Startek reports quarterly financial results

Startek, Inc. (NYSE:SRT), a global provider of customer experience management solutions, is reporting financial results for the quarter ended June 30, 2019, the company said.

The results presented for the quarter ended June 30, 2019 and March 31, 2019 include both Startek and Aegis financial results. As a result of the reverse acquisition accounting for the Startek and Aegis business combination on July 20, 2018, the results presented for the quarter ended June 30, 2018 include only Aegis financial results.

Total revenue for the quarter was USD 160.6 million compared to USD 161.1 million in the quarter ended March 31, 2019, and was up 45% compared to USD 110.2 million in the quarter ended June 30, 2018.

Gross profit for the quarter increased to USD 27.6 million compared to USD 27.2 million in the quarter ended March 31, 2019, and was up 63% compared to USD 16.9 million in the quarter ended June 30, 2018.

Gross margin increased 30 basis points to 17.2% during the quarter compared to 16.9% in the quarter ended March 31, 2019, and increased 190 basis points compared to 15.3% in the quarter ended June 30, 2018.

Selling, general and administrative (SG&A) expenses were USD 24.9 million compared to USD 24.1 million in the quarter ended March 31, 2019, and USD 15.3 million in the year-ago quarter. As a percentage of revenue, SG&A was 15.5% compared to 14.9% in the quarter ended March 31, 2019 and 13.8% in the year-ago quarter.

Net loss attributable to Startek shareholders for the quarter was USD 3.6 million or USD (0.10) per share, compared to a net loss of USD 3.3 million or USD (0.09) per share in the quarter ended March 31, 2019, and a net loss of USD 3.7 million or USD (0.18) per share in the year-ago quarter.

Adjusted EBITDA* for the quarter increased to USD 11.0 million compared to USD 10.9 million in the quarter ended March 31, 2019. Adjusted EBITDA for the year-ago quarter was USD 6.4 million.

Startek is a global provider of business process outsourcing solutions. The company provides customer experience management, back office and technology services to corporations around the world across a range of industries. To learn more about Startek´s global solutions, visit www.startek.com.