APAC Customer Services Announces Second
Quarter 2010 Results
l 2Q revenue increases 17.2%
l 2Q net income of $0.10 per diluted share
l Ends 2Q with $45.4 million in cash and no outstanding borrowings
l Reaffirms guidance for 2010
August 11, 2010 04:18 PM Eastern Daylight Time
BANNOCKBURN, Ill.--(EON: Enhanced Online News)--APAC Customer Services, Inc. (Nasdaq: APAC), a
leader in global outsourced services and solutions, today reported financial results for its second fiscal quarter ended
July 4, 2010.
Revenue for the 2010 second quarter rose 17.2% to $77.4 million from $66.0 million in the 2009 second quarter.
Gross profit for the 2010 second quarter was $16.4 million, or 21.2%, compared to $15.4 million, or 23.3%, in the
prior-year period. The Company reported net income of $5.3 million, or $0.10 per diluted share, compared to net
income of $7.7 million, or $0.14 per diluted share, in the prior-year quarter. Results for the quarter include $2.8
million in income tax expense versus $0.1 million in the 2009 period, when the Company did not record any federal
income tax due to its net operating loss carryforward and other tax credits. Second quarter 2010 EBITDA was
$11.1 million compared to $10.8 million in the 2009 second quarter.
Interim CEO Art DiBari commented, “We are delighted that the APAC team has turned in another solid quarter,
posting double digit revenue growth and strong bottom line results. This is especially rewarding in light of the
challenges that many businesses are facing in the current economy. Our strategy is yielding the consistent
performance we planned for, and we continue to work hard to maintain that position.”
Senior Vice President and CFO Andrew Szafran added, “Based upon APAC’s performance in the first half of this
year and the opportunities we see ahead of us, we are reiterating the full-year guidance we provided previously. We
continue to expect full year revenue to be in the range of $320 million to $330 million and EPS to be in the range of