Welcome to our dedicated page for StarTek news (Ticker: SRT), a resource for investors and traders seeking the latest updates and insights on StarTek stock.
Startek, Inc. (NYSE: SRT), a global leader in customer experience solutions for 35+ years, maintains this comprehensive news hub for tracking corporate developments and strategic initiatives. Investors and industry observers will find verified updates on financial performance, operational milestones, and market positioning within the competitive BPO sector.
This resource centralizes essential information including earnings reports, partnership announcements, and recognition like Startek's recent designation as a Major Contender in Everest Group's APAC CXM assessment. Stay informed about transformative events such as the pending $217 million acquisition by Capital Square Partners and its implications for corporate structure.
Discover updates across key operational areas: customer service innovations through AI-driven platforms, healthcare-specific solutions via Startek Health, and global expansion efforts across 12 countries. The page also features strategic collaborations enhancing digital transformation in sectors like energy distribution.
Bookmark this page for ongoing access to Startek's verified corporate communications, financial disclosures, and industry analysis. Check regularly for updates reflecting the company's evolving position in the $350+ billion global customer experience management market.
Startek (NYSE: SRT), a leader in customer experience management, launched a vaccination clinic at its BPO campus in Farmington, MO, on April 10, 2021. This initiative, in collaboration with the Saint Francois County Health Department and the Missouri National Guard, aims to enhance COVID-19 vaccine accessibility for the community. The company remains committed to corporate social responsibility, actively supporting local health efforts and exploring the potential for additional vaccination sites based on community needs. Startek operates over 40,000 CX experts across 46 campuses globally.
Startek, Inc. (SRT) reported Q4 2020 net revenue of $174.5 million, up from $171.6 million year-over-year, driven by strong seasonal demand. Gross profit rose to $30.9 million with a gross margin of 17.7%. However, the company reported a net loss of $7.6 million, partially due to a $13.2 million goodwill impairment. For the full year, net revenue was $640.2 million, down from $657.9 million in 2019, with a significant net loss of $39.0 million. Startek completed a $185 million debt refinancing to enhance liquidity and support growth initiatives.
Startek, Inc. (NYSE: SRT), a leader in customer experience management, will hold a conference call on March 15, 2021, at 5:00 p.m. ET to discuss its Q4 and full-year 2020 financial results. The press release with the financial results will be issued prior to the call. Participants can dial in using the toll-free number (844) 239-5283 or the international number (574) 990-1022. A replay will be available post-conference until March 22, 2021. Startek provides tech-enabled business process management solutions and serves over 250 clients across diverse industries.
Startek (NYSE: SRT) announced the appointment of Vikash Sureka as the new Global Chief Financial Officer (CFO), starting February 25, 2021. He succeeds Ramesh Kamath, who will now serve as Senior Advisor for M&A and Strategy. Vikash brings 25 years of finance experience, having previously served as CFO at IBS Software, where he improved various finance functions. Executive Chairman Aparup Sengupta expressed confidence in Vikash's ability to drive profitable growth and implement effective financial controls, especially during this pivotal time for the company.
StarTek, a global customer experience management provider, announced a strategic investment of $30 million in CSS Corp, an IT services company. This investment gives StarTek an indirect beneficial interest of about 26% in CSS and an option to acquire a controlling stake. CSS, which has a strong recurring revenue model and operates across five continents, focuses on technology-centric support services. StarTek's CEO emphasized that this partnership will accelerate their digital service adoption and enhance margin potential.
Startek, Inc. (NYSE: SRT) announced a successful refinancing of $185 million in senior debt, consisting of a $165 million term loan and a $20 million revolving credit facility. The new debt features a principal repayment moratorium for 21 months and an interest rate set at LIBOR plus 450 basis points, contingent on the company's consolidated net leverage ratio. This refinancing, underwritten by ING Bank N.V. and DBS Bank Ltd., aims to enhance liquidity and provide operational flexibility, allowing Startek to pursue growth opportunities effectively.
Startek, Inc. (NYSE:SRT) reported its third-quarter financial results for 2020, revealing a net revenue of $162.7 million, a slight decrease from $164.6 million in Q3 2019. Gross profit fell to $22.9 million with a gross margin of 14.1%. Despite the drop, net income improved to $0.4 million compared to a loss of $2.8 million in the prior year. Adjusted EBITDA rose 16.8% to $15.6 million. The company noted operational improvements and a focus on digital initiatives, preparing for future revenue growth amidst ongoing challenges from the pandemic.
FAQ
What is the market cap of StarTek (SRT)?
