TeleTech shares fall, 4th-quarter profit misses Street estimates

TeleTech shares fall, 4Q profit misses Street view

ENGLEWOOD, Colo. — Shares of TeleTech Holdings Inc. fell Tuesday after the call center operator reported fourth-quarter earnings that fell short of Wall Street’s expectations.

Late Monday, the company said it earned $20 million, or 31 cents per share, compared with $14.1 million, or 22 cents per share, in the prior year’s quarter.

Revenue fell to 14 percent to $280.8 million from $326 million.

Analysts were expecting a profit of 32 cents per share and revenue of $280.7 million, according to Thomson Reuters.

For the year, TeleTech earned $71.8 million, or $1.12 per share. That compares with $73.7 million, or $1.06 per share, in 2008. Revenue fell to $1.17 billion from $1.4 billion.

Looking ahead, TeleTech said it’s comfortable with analysts’ forecast of its 2010 revenue, which came in at $1.16 billion.

TeleTech also said its board expanded its stock buyback plan by $25 million. That’s in addition to $26 million still available under the prior authorization for share buybacks set in September.

Shares of TeleTech, based in Englewood, Colo., fell 92 cents, or 4.8 percent, to $18.42 in afternoon trading.