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Startek, Inc. (NYSE: SRT) will hold a conference call on March 10, 2022, at 5:00 p.m. Eastern time to discuss its fourth quarter and full year financial results for the year ended December 31, 2021. Results will be announced in advance of the call. Interested parties can join by calling the provided numbers. A replay will be available until March 17, 2022. Startek is a global provider of customer experience solutions serving over 200 clients across various industries, focusing on enhancing customer interactions and digital transformation.
Startek (NYSE: SRT) has announced the appointment of Nishit Shah as Global CFO and Jayanta Lahiri as Global CIO, completing its executive team. Shah, with 23 years of experience, aims to enhance financial operations and accelerate growth. He previously worked at Birlasoft, implementing automation in financial reporting. Lahiri, with over 30 years in digital transformation, will focus on IT security and agility. Both executives will report directly to CEO Bharat Rao, who emphasized the importance of their roles in driving innovation in omnichannel customer experience.
Startek (NYSE: SRT) has announced Bharat Rao's promotion to Global CEO, effective immediately, as he transitions from his role as president. Rao, with over 30 years of experience in the outsourcing industry, aims to enhance Startek's digital-first customer experience (CX) strategies. Ronald Gillette has joined as Strategic Advisor and Head of Business Transformation, focusing on optimizing CX delivery. Rao's leadership is expected to drive innovation and growth in Startek's offerings, ensuring a robust market position in the competitive CX landscape.
Startek (NYSE:SRT) has been awarded the 2021 Americas New Product Innovation Award by Frost & Sullivan for its innovative customer experience (CX) outsourcing services. The award acknowledges Startek's integration of AI and digital solutions to enhance CX while ensuring the availability of human agents for complex interactions. The Startek Cloud platform enables secure, flexible work environments, significantly improving customer retention and driving revenue growth. This recognition reflects Startek's commitment to leveraging technology for superior customer outcomes.
On January 25, 2022, Frost & Sullivan recognized Startek (NYSE: SRT) with the 2021 Americas New Product Innovation Award for its customer experience outsourcing services. This award highlights Startek's innovative approach, integrating live agent interactions with digital solutions. Startek Cloud enhances operational flexibility, allowing agents to work securely from various locations, ensuring data privacy and compliance. The award underscores Startek's commitment to leveraging AI and automation to improve customer outcomes and drive growth.
The board of directors of Startek (NYSE: SRT) has formed a special committee to evaluate a non-binding acquisition proposal from CSP Management Limited. The offer, dated December 20, 2021, proposes to buy the remaining shares of Startek at $5.40 per share, with CSP already owning approximately 55.3% of outstanding shares. Legal counsel has been engaged, and no decisions on the proposal have yet been made. Shareholders are cautioned that a definitive offer may not materialize.
Startek (NYSE: SRT) has been awarded by Enterprise Asia’s International Innovation Awards for its advancements in cloud and digital technologies, enhancing customer experience amid the COVID-19 pandemic. The award recognizes Startek’s innovative solutions in the Service and Solution category. The company’s next-gen Startek Cloud platform integrates AI and teleworking capabilities, promoting business continuity. Startek’s hybrid omnichannel solutions leverage intelligent automation and analytics, catering to over 200 clients across diverse industries.
Startek (NYSE: SRT) has announced key leadership appointments, naming Abhinandan Jain as Chief Digital Officer and Rebecca Gautrey as Chief Marketing Officer. These additions aim to enhance the company's digital innovation and marketing strategies, aligning with its goal to transform customer experience (CX) through advanced technology. Jain brings extensive experience from Servion, while Gautrey has a strong track record in brand management. Both leaders are expected to drive growth and deliver innovative solutions in the rapidly evolving CX landscape.
Startek, Inc. (NYSE:SRT) reported Q3 2021 net revenue of $172.8 million, a 6% year-over-year increase from $162.7 million. However, gross profit decreased to $21.5 million (down 3%) with a gross margin of 12.5%, affected by labor shortages and a cybersecurity event. Net income fell to $0.1 million (EPS of $0.00, down 79%). Adjusted EBITDA rose slightly to $15.9 million. The company strengthened its management team with new appointments, aiming for continued growth in key verticals.
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