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Startek, Inc. (NYSE: SRT), a leader in customer experience management solutions, will conduct a conference call on May 10, 2021, at 5:00 p.m. Eastern time to discuss its financial results for the first quarter, which ended on March 31, 2021. A press release will precede the call. Attendees can join via toll-free at (844) 239-5283 or internationally at (574) 990-1022 using Conference ID: 4684167. A replay will be available post-call until May 17, 2021.
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.
