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About Us
StarTek, Inc. (NYSE: SRT) is a leading provider of high value business process outsourcing services to the communications industry. Since 1987 we have partnered with our clients to solve strategic business challenges so that fast-moving businesses can improve customer retention, increase revenue and reduce costs through an improved customer experience. These robust solutions leverage industry knowledge, best business practices, highly skilled agents, proven operational excellence and flexible technology. Our comprehensive service suite includes customer care, sales support, complex order processing, accounts receivable management, technical support and other industry-specific processes. Headquartered in Denver, Colorado, StarTek provides these services from 19 operational facilities in the US and Canada. For more information visit the Company’s website at www.StarTek.com or contact us at
800-541-1130.
History
We were founded in 1987. At that time, our business was centered around supply chain management services, which grew to include packaging, fulfillment, marketing support and logistics services. This business platform was later sold in December 2005. After our initial public offering in 1997, we began operating contact center services, which primarily focused on customer care and grew to include sales support, complex order processing, accounts receivable management, technical support and other industry-specific processes. Our business today is in providing these high-end customer service offerings to clients in the communications industry through the effective deployment of our people and our technology.
2006 Financial and Operational Highlights
2006 Revenues: $237.6 million (a 9.8% increase over 2005)
2006 Net income: $5.8 million
Diluted shares outstanding as of 12/31/06: 14.7 million
2006 Capital expenditures, net of proceeds: $19.8 million
2005 Cash provided by operating activities: $18.9 million
Total assets as of 12/31/05: $155.7 million
Opened three new call centers
Approximately 8,300 employees (as of December 31, 2006)
Principal Growth Strategy
We seek to become a market leader in providing high-value services to clients in the communications industry. Our approach is to develop relationships with our clients that are partnering and collaborative in nature and create industry-based solutions to meet our clients’ business needs. To be a leader in the market, our strategy is to:
grow our existing client base by deepening and broadening our relationships,
add new clients in the communications segment and continue to diversify our client base,
improve the profitability of our business through operational improvements and securing
higher margin business,
add new services to broaden our offerings to the communication segment and
make prudent acquisitions to expand our business scale and service offerings.
StarTek Principles
Listen before dispensing wisdom.
Demand and maintain integrity.
Stay optimistic.
Be objective and seek fact based information before making decisions.
Insist on accountability from yourself and others for responsibilities and commitments.
Achieve success through teamwork.
Earn respect and be respectful of others.
Practice the principles.
Dividend Policy
In January 2007, our board of directors announced it would not declare a quarterly dividend on our common stock in the first quarter of 2007, nor did it expect to pay dividends in the foreseeable future. The move was made in order to invest available cash in growth initiatives. We had been paying quarterly dividends since August 2003.