The Company reported $0.10 diluted earnings per share in the fourth quarter, $0.09 from continuing operations, on revenues of $114 million.
For the year, highlights included:
Consolidated revenues were $464 million, an increase of 9% over fiscal 1999
Operating Income increased 60% and was 7.8% of revenues in 2000 compared to 5.3% in 1999
Net Income was $17.2 million, an increase of 204% over fiscal 1999
Earnings per Diluted Share were $0.34, an increase of 183% over $0.12 of fiscal 1999
Earnings on a cash flow basis from continuing operations, or earnings before interest, taxes, depreciation and amortization (EBITDA), were $1.32 per diluted share, up 11% from 1999 fiscal year
Major investments were made in infrastructure and technology that have laid the foundation for growth and expansion
Continued strengthening of the balance sheet: Cash up to $41 million, Total Debt down to $105 million and Net Debt reduced by $50 million in 2000
Our fiscal 2000 performance reflects the results of our disciplined organizational focus and transformation strategies to position the Company for growth and expansion, said Peter M. Leger, President and Chief Executive Officer of APAC Customer Services. We broadened our market reach as a CRM/eCRM solutions provider with the launch of our comprehensive platform incorporating our consultative diagnostic toolkit, CRM design modules, system integration strategies, interaction center operations, our best in breed multi-channel technology, e.PAC(SM) and our web personalization software, Interactive Marketer(SM). In addition, our verticalized organization structure is totally focused on providing value-added industry specific solutions to sectors including communications, banking/brokerage, insurance and healthcare, and business services as well as sectors like travel and entertainment, automotive and retail. Our focus for 2001 will continue to be on driving growth in both revenue and profits as well as operational and financial improvements to enhance shareholder value.
For the fiscal year, the Company reported revenues increased 11% in its Customer Acquisition business, increased 4% in its Customer Care business and totaled $8 million from its new CustomerAssistance.com eCRM business. For the fourth quarter the Company reported consolidated revenues flat compared to the fourth quarter of fiscal 1999. Fourth quarter revenues increased 5% in the Customer Acquisition business, primarily from increased volume from existing clients, and declined 8% in the Customer Care business, primarily due to the elimination of under-performing contracts. CustomerAssistance.com generated over $4 million in revenue in the fourth quarter. On a sequential basis, consolidated revenue was 1% higher than the third quarter of fiscal 2000. Customer Acquisition declined 2% and Customer Care declined 1%. Offsetting both of these quarter-to-quarter reductions was an increase in revenue from CustomerAssistance.com, which reported $4.3 million in revenue in the fourth quarter, an increase of $2.4 million from the third quarter.
