Despite Falling Dollar, APAC Turns Around Loss
APAC Customer Services Inc. generated $61.7 million during fourth-quarter 2007, up from $56.1 million a year earlier. The company reported a net loss of $1.9 million, compared with a net loss of $24 million a year earlier.
For the year, the Deerfield, IL-based customer care services firm recorded $224.7 million, up a tick from $224.3 million in 2006. APAC’s net income was $5.1 million, a turnaround from the $30.5 million net loss it experienced in 2006.
While APAC’s business services vertical and offshore revenue increased, these gains were offset by declines in domestic healthcare business, and the loss of a large telecommunications client during the first half of 2006, according to the company’s financial release.
Additionally, building cost overruns for a new facility in the Philippines and stiffer competition for the local labor force, combined with unfavorable changes in exchange rates, took their toll on APAC’s fortunes.
