TeleTech Feels Revenue Pinch as Dollar Strengthens
TeleTech Holdings Inc. reported $326 million in revenues in the fourth quarter from its international teleservices call center operations, a decrease of $45.6 million compared to the fourth quarter of 2007.
The company attributed 80% of this decline to the strengthening value of the U.S. dollar exchange rate, relative to the currencies of certain of its foreign subsidiaries.
Overall, it reported $1.4 billion record revenues for the fiscal year 2008, an increase of 2.2% over the prior year.
During 2009, TeleTech is projecting its revenues in Asia-Pacific countries, Brazil, Spain and the United Kingdom will be further adversely affected by a strengthening in the value of the U.S. dollar.
TeleTech operates call centers in 17 countries with roughly 39,900 workstations.
