TeleSpectrum Worldwide Inc., King of Prussia, PA, had fourth-quarter revenue of $43 million, down 4% from 44.8 million in fourth-quarter 1997. In fourth-quarter 1998 the company had net income of $3.6 million versus a net loss of $149.3 million for fourth-quarter 1997, largely due to a non-cash charge of $139.1 million for “goodwill impairment” stemming from acquisitions made in August 1996.
For the year the company had net revenue of $167.4 million, down from $178.9 million in 1997. TeleSpectrum’s net loss was reduced from $160.5 million to $6.5 million.
The year and quarter ended Dec. 31.
The company also reported that its inbound customer care businesses, which represented 29% of total revenue in the fourth quarter, grew 12% during the quarter. Outbound revenue decreased 8% from the third quarter, with the bulk of that drop occurring around the December holiday period.
TeleSpectrum Worldwide Inc. provides direct marketing and customer care services, including inbound and outbound telemarketing, inbound customer service, interactive voice response, customer care consulting, and call center management.
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