West (WSTC) 8-K West Corporation Reports Second Quarter 2008 Results Company Updates 2008 Guidance

Exhibit 99.1

West Corporation	AT THE COMPANY:
11808 Miracle Hills Drive	David Pleiss
Omaha, NE 68154	Investor Relations
	(402) 963-1500
	dmpleiss@west.com

West Corporation Reports Second Quarter 2008 Results
Company Updates 2008 Guidance

OMAHA, NE, July 23, 2008 –West Corporation, a leading provider of outsourced communication solutions, today announced its second quarter 2008 results.

Financial Summary (unaudited)

(Dollars in millions)

	Three Months Ended									Six Months Ended
	June 30,									June 30,
							Percent									Percent
	2008			2007			Change			2008			2007			Change
Revenue	$	551.4		$	520.2			6.0	%	$	1,077.2		$	1,028.8			4.7	%
Adjusted EBITDA1	$	147.9		$	146.9			0.7	%	$	286.2		$	292.3			-2.1	%
Adjusted EBITDA Margin		26.8	%		28.2	%					26.6	%		28.4	%
Adjusted EBITDA Excl. Interest Income1	$	147.3		$	143.3			2.8	%	$	284.5		$	285.4			-0.3	%
Cash Flow from Operations	$	46.6		$	45.3			2.9	%	$	70.7		$	127.2			-44.4	%

¹ See Reconciliation of Financial Measures below.

1

Consolidated Operating Results

For the second quarter ended June 30, 2008, revenues were $551.4 million compared to $520.2 million for the same quarter last year, an increase of 6.0 percent. Revenue from acquired entities² was $34.6 million during the second quarter, including $26.0 million from Genesys.

During the quarter, the Company recorded a $19.8 million reduction in revenue in its Receivables Management segment from an allowance for impairment of purchased accounts receivable which were acquired prior to January 1, 2008. The Company believes this impairment was due to reduced second quarter liquidation rates resulting from weaker economic conditions for consumers which resulted in a collection environment that was more difficult than expected. This impairment charge results in a 300 basis point reduction in consolidated second quarter operating margin. In addition, minority interest was reduced by $4.2 million to account for the minority owner’s share of this impairment.

Excluding the $19.8 million revenue impairment charge, consolidated revenue would have been $571.2 million. Organic growth before the impairment charge was 3.2 percent for the quarter.

2008 Guidance

As a result of the impairment charge in the Receivables Management segment, the Company now anticipates the following results for the year ending December 31, 2008. This guidance assumes no additional acquisitions or changes in the current operating environment and excludes unrealized synergies from the Genesys acquisition.

	May 22	Revised
In Millions	Guidance3	Guidance
Revenue	$2,328 — $2,370	$2,300 — $2,340
Adjusted EBITDA	$608 — $635	$608 — $635
Cash Flow from Operations	$235 — $265	$235 — $265
Capital Expenditures	$105 — $123	$105 — $123

Balance Sheet and Liquidity

At June 30, 2008, West Corporation had cash and cash equivalents totaling $54.9 million and working capital of $46.1 million. Adjusted EBITDA for the second quarter was $147.9 million, or 26.8 percent of revenue. A reconciliation of Adjusted EBITDA to cash flow from operating activities is presented below.

2	Acquired entities include Omnium Worldwide, Inc. (acquired in May 2007) in the Receivables Management segment, HBF Communications (acquired in April 2008) in the Communications Services segment and Genesys (acquired in May 2008) in the Conferencing Services segment.
3	As issued by the Company on May 22, 2008 after completing the acquisition of Genesys.

2

During the quarter, the Company invested $26.0 million in capital expenditures primarily for information technology systems, software and equipment.

Conference Call

The Company will hold a conference call to discuss these topics on Thursday, July 24, 2008 at 11:00 AM Eastern Time (10:00 AM Central Time). Investors may access the call by visiting the Financials section of the West Corporation website at www.west.com and clicking on the Webcast link. A replay of the call will be available on the Company’s website at www.west.com.

About West Corporation

West Corporation is a leading provider of outsourced communication solutions to many of the world’s largest companies, organizations and government agencies. West helps its clients communicate effectively, maximize the value of their customer relationships and drive greater profitability from every interaction. The Company’s integrated suite of customized solutions includes customer acquisition, customer care, automated voice services, emergency communications, conferencing and accounts receivable management services.

Founded in 1986 and headquartered in Omaha, Nebraska, West has a team of 39,000 employees based in North America, Europe and Asia. For more information, please visit www.west.com.

Forward Looking Statements

This press release contains forward looking statements. Forward-looking statements can be identified by the use of words such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “continue” or similar terminology. These statements reflect only West’s current expectations and are not guarantees of future performance or results. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include the ability to integrate or achieve the objectives of our recent acquisitions, West’s ability to complete future acquisitions, competition in West’s highly competitive industries, extensive regulation in many of West’s markets, West’s ability to recover on its charged-off consumer receivables, capacity utilization of West’s contact centers, the cost and reliability of voice and data services, availability of key personnel and employees, the cost of labor and turnover rates, the political, economic and other conditions in countries where West operates, the loss of any key clients, West’s ability to purchase, and finance the acquisition of, charged-off receivable portfolios on acceptable terms and in sufficient amounts, the nature of West’s forward flow contracts, the non-exclusive nature of West’s client contracts and the absence of revenue commitments, the possibility of an emergency interruption to West’s data and contact centers, acts of terrorism or war, security or privacy breaches of West’s systems and databases, West’s

3

ability to protect proprietary information or technology, West’s ability to continue to keep pace with technological developments, the cost of pending and future litigation and other risk factors described in documents filed by the company with the United States Securities and Exchange Commission including West’s annual report on Form 10-K for the year ended December 31, 2007 and quarterly report on Form 10-Q for the quarter ended March 31, 2008. These forward-looking statements speak only as of the date on which the statements were made. West undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

4

WEST CORPORATION
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited, in thousands except selected operating data)

	Three Months Ended June 30,									Six Months Ended June 30,
	2008			2007			% Change			2008			2007			% Change
Revenue	$	551,433		$	520,186			6.0	%	$	1,077,188		$	1,028,819			4.7	%
Cost of services		251,143			224,306			12.0	%		501,703			443,291			13.2	%
Selling, general and administrative expenses		219,090			206,305			6.2	%		425,218			399,368			6.5	%
Operating income		81,200			89,575			-9.3	%		150,267			186,160			-19.3	%
Interest expense		70,204			83,465			-15.9	%		144,363			163,655			-11.8	%
Other expense (income), net		(483	)		(4,178	)		-88.4	%		(917	)		(8,108	)		-88.7	%
Income before tax		11,479			10,288			11.6	%		6,821			30,613			-77.7	%
Income tax expense		4,737			3,519			34.6	%		3,998			10,927			-63.4	%
Minority Interest		(987	)		4,257			-123.2	%		(3,702	)		8,155			-145.4	%
Net income	$	7,729		$	2,512			207.7	%	$	6,525		$	11,531			-43.4	%
SELECTED SEGMENT DATA:
Revenue:
Communication Services	$	272,442		$	264,303			3.1	%	$	552,775		$	536,970			2.9	%
Conferencing		230,069			183,651			25.3	%		425,713			359,817			18.3	%
Receivables Management		50,337			73,658			-31.7	%		101,453			134,781			-24.7	%
Inter segment eliminations		(1,415	)		(1,426	)		-0.8	%		(2,753	)		(2,749	)		0.1	%
Total	$	551,433		$	520,186			6.0	%	$	1,077,188		$	1,028,819			4.7	%
Depreciation & Amortization:
Communication Services	$	18,399		$	22,809			-19.3	%	$	37,237		$	42,921			-13.2	%
Conferencing		18,674			16,438			13.6	%		35,151			31,640			11.1	%
Receivables Management		5,510			5,516			-0.1	%		12,400			8,033			54.4	%
Total	$	42,583		$	44,763			-4.9	%	$	84,788		$	82,594			2.7	%
Operating Income:
Communication Services	$	32,823		$	29,002			13.2	%	$	63,375		$	65,300			-2.9	%
Conferencing		58,326			46,896			24.4	%		109,558			93,594			17.1	%
Receivables Management		(9,949	)		13,677			-172.7	%		(22,666	)		27,266			-183.1	%
Total	$	81,200		$	89,575			-9.3	%	$	150,267		$	186,160			-19.3	%
Operating Margin:
Communication Services		12.0	%		11.0	%		9.1	%		11.5	%		12.2	%		-5.7	%
Conferencing		25.4	%		25.5	%		-0.4	%		25.7	%		26.0	%		-1.2	%
Receivables Management		-19.8	%		18.6	%		-206.5	%		-22.3	%		20.2	%		-210.4	%
Total		14.7	%		17.2	%		-14.5	%		13.9	%		18.1	%		-23.2	%
SELECTED OPERATING DATA ($M):
Share-based compensation expense recognized		0.4			0.3
Cash flow from operations		46.6			45.3
Revolving line of credit		25.0			—
Term loan facility		2,498.1			2,388.4
Multi-currency revolving credit facility		76.5			—
Senior notes		650.0			650.0
Senior subordinated notes		450.0			450.0

Condensed Balance Sheets

	June 30,			December 31,			%
	2008			2007			Change
Current assets:
Cash and cash equivalents	$	54,942		$	141,947			-61.3	%
Trust cash		12,058			10,358			16.4	%
Accounts receivable, net		350,774			289,480			21.2	%
Portfolio receivables, current		51,620			77,909			-33.7	%
Deferred income taxes receivable		20,548			33,718			-39.1	%
Other current assets		69,219			44,463			55.7	%
Total current assets		559,161			597,875			-6.5	%
Net property and equipment		324,931			298,645			8.8	%
Portfolio receivables, net		119,391			132,233			-9.7	%
Goodwill		1,563,811			1,329,978			17.6	%
Other assets		600,816			487,759			23.2	%
Total assets	$	3,168,110		$	2,846,490			11.3	%
Current liabilities	$	513,037		$	410,080			25.1	%
Long Term Obligations		3,699,581			3,495,529			5.8	%
Other liabilities		145,987			138,297			5.6	%
Total liabilities		4,358,605			4,043,906			7.8	%
Minority interest		6,694			12,937			-48.3	%
Class L common stock		1,093,500			1,029,782			6.2	%
Stockholders’ deficit		(2,290,689	)		(2,240,135	)		2.3	%
Total liabilities and stockholders’ deficit	$	3,168,110		$	2,846,490			11.3	%

5

Reconciliation of Financial Measures

The common definition of EBITDA is “Earnings Before Interest Expense, Taxes, Depreciation and Amortization.” In evaluating liquidity, we use earnings before interest expense, share based compensation, taxes, depreciation and amortization, minority interest, non-recurring litigation settlement costs, other non-cash reserves, transaction costs and after acquisition synergies and excluding unrestricted subsidiaries, or “Adjusted EBITDA.” We also use “Adjusted EBITDA Excluding Interest Income,” which we define as earnings before interest expense and non-recurring interest income, share based compensation, taxes, depreciation and amortization, minority interest, non-recurring litigation settlement costs, other non-cash reserves, transaction costs and after acquisition synergies and excluding unrestricted subsidiaries. EBITDA, Adjusted EBITDA and Adjusted EBITDA Excluding Interest Income are not measures of financial performance or liquidity under generally accepted accounting principles (“GAAP”). EBITDA, Adjusted EBITDA and Adjusted EBITDA Excluding Interest Income should not be considered in isolation or as a substitute for net income, cash flow from operations or other income or cash flow data prepared in accordance with GAAP. Adjusted EBITDA and Adjusted EBITDA Excluding Interest Income, as presented, may not be comparable to similarly titled measures of other companies. Adjusted EBITDA and Adjusted EBITDA Excluding Interest Income are presented as we understand certain investors use them as one measure of our historical ability to service debt. Adjusted EBITDA is also used in our debt covenants, although the precise adjustments used to calculate Adjusted EBITDA included in our credit facility and indentures vary in certain respects among such agreements and from those presented below. Set forth below is a reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDA Excluding Interest Income to cash flow from operations.

Amounts in thousands	Three Months Ended June 30,						Six Months Ended June 30,
	2008			2007			2008			2007
Cash flow from operating activities	$	46,633		$	45,255		$	70,655		$	127,183
Income tax expense		4,737			3,519			3,998			10,927
Deferred income tax (expense) benefit		(463	)		4,008			3,696			(2,682	)
Interest expense		70,204			83,465			144,363			163,655
Allowance for impairment of purchased accounts receivable		(19,836	)		—			(44,076	)		—
Minority interest in earnings, net of distributions		3,002			(565	)		7,645			(285	)
Provision for share based compensation		(357	)		(319	)		(669	)		(629	)
Debt amortization		(3,940	)		(3,657	)		(7,561	)		(7,408	)
Other		(59	)		(5	)		29			432
Changes in operating assets and liabilities, net of business acquisitions		25,332			2,559			61,594			(22,485	)
EBITDA		125,253			134,260			239,674			268,708
Minority interest		(987	)		4,257			(3,702	)		8,155
Provision for share based compensation		357			319			669			629
Recapitalization costs		1,113			4,443			2,113			8,575
Acquisition synergies		2,599			2,475			2,977			4,237
Site closures		(273	)		—			(273	)		—
Portfolio impairment		19,836			—			44,076			—
Asset impairment		—			—			739			—
Acquisition costs		—			—			(26	)		—
Vertical Alliance Adjustment		—			1,113			—			1,948
Adjusted EBITDA	$	147,898		$	146,867		$	286,247		$	292,252
Interest income		551			3,570			1,791			6,832
Adjusted EBITDA Excluding Interest Income	$	147,347		$	143,297		$	284,456		$	285,420

6