Exhibit 99.1
[WEST CORPORATION LOGO]
West Corporation AT THE COMPANY:
11808 Miracle Hills Drive Carol Padon
Omaha, NE 68154 Investor Relations
(402) 963-1500
West Corporation Announces Updated Financial Guidance &
Management Change
OMAHA, NE, September 12, 2002 - West Corporation (NASDAQ: WSTC), a leading
provider of integrated customer contact solutions focused on helping Fortune
1000 companies acquire, manage, retain and grow their customer relationships,
today announced updated 2002 financial guidance. The company expects third
quarter revenues in the range of $202 - 205 million leading to net income of
approximately $13.6 - 13.9 million and diluted earnings per share of
approximately $0.20. For the full year 2002, the company expects revenues of
$828 - $833 million and net income of $75 - $77 million.
"Our expected results for the third quarter have been lowered. This is primarily
the result of two factors," stated Thomas B. Barker, President and Chief
Executive Officer. "First, we have experienced higher than anticipated costs
related to bad debt. Second, during August some of our clients changed their
plans resulting in reduced call volume in the third quarter."
The company also announced that Paul Mendlik has been named as the company's new
Chief Financial Officer. He joins West Corporation with more than 25 years of
experience with Deloitte & Touche. Mr. Mendlik has been a partner with Deloitte
since 1984 and has served as the regional partner overseeing the audit and
assurance practice.
"We are fortunate to have a seasoned executive of Paul's caliber joining West
Corporation," stated Barker. "We believe his in-depth knowledge of our company
will help us achieve our corporate goals and permit a quick and smooth
transition."
Mr. Mendlik replaces Michael Micek, who has served as West Corporation's CFO &
Treasurer since 1990 and will remain as a consultant to the company going
forward.
Conference Call
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The company will hold a conference call to discuss these matters on September
13th at 10:00 AM Central Time. Investors may access the call by dialing
1-888-412-9257 with the conference ID: 5695664. If you are unable to participate
during the live conference call, a replay of the call will be available two
hours following the conference at 800-642-1687, for one week until September 20,
2002.
About West Corporation
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West Corporation is a leading provider of integrated customer contact solutions
focused on helping Fortune 1000 companies acquire, manage, retain and grow their
customer relationships.
West's customized solutions include large volume agent based transaction
processing, interactive voice response, Web-enabled customer contact solutions
and business-to-business marketing services. The company's operational strength
and proprietary technology enables it to develop long-term partnerships with its
clients and drive greater value from each customer interaction.
Founded in 1986 and headquartered in Omaha, Nebraska, West has a team of
approximately 24,000 employees, occupying thirty-five state-of-the-art contact
centers and eight interactive automated voice and data processing centers across
North America and India.
For more information, please visit www.west.com.
Statements which are not historical facts contained in this release are
forward-looking statements that involve risks and uncertainties. Such risks and
uncertainties include, but are not limited to: planned expansion of operating
facilities; labor market conditions; mergers, acquisitions, or joint ventures,
including their execution; customer concentrations; technological innovation;
and general economic conditions. Further information regarding the factors that
could cause actual results to differ from expected or projected results can be
found in documents filed by the Company with the United States Securities and
Exchange Commission (the "SEC").
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