Sitel Corp., Baltimore, reported net income of $1.1 million on revenue of $154.5 million for the fourth quarter ended Dec. 31, 1998, compared with a net loss of $11 million on revenue of $141.7 million for the same period last year.
For the year, the company reported a net loss of $1.1 million on revenue of $586.3 million, compared to net income of $2.8 million on revenue of $491.5 million in 1997.
“While we have made progress since the second quarter of 1998, we believe we are still a quarter or two away from seeing the full impact of the new business we have won and the cost reductions we have implemented,” Phil Clough, Sitel’s president and CEO, said in a statement. “Near term results are also being affected by anticipated results in our US Telecommunications Group which continues under pressure due to lower marketing budgets related to mergers and regulatory issues preventing the start of new competitive initiatives by our clients.”
Sitel provides services for customer-relationship management.
