SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 31, 1998
APAC TELESERVICES, INC.
(Exact name of registrant as specified in charter)
Illinois 0-26786 36-2777140
(State or other jurisdiction (Commission (IRS Employer
of incorporation) file number) Identification No.)
One Parkway North Center, Suite 510, Deerfield, IL 60015
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code 847/374-4980
N/A
(Former name or former address, if changed since last report)
Item 5. OTHER EVENTS
On August 31, 1998, Registrant issued a press release, a copy of which
is attached as Exhibit 99.1 to this Form 8-K and incorporated herein by
reference.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
Exhibit No. Description of Document
(99.1) Press release dated August 31, 1998, issued by the
Registrant.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: September 1, 1998 APAC TELESERVICES, INC.
By: /s/ John I. Abernethy
John I. Abernethy
Chief Financial Officer
INVESTOR CONTACT:
Thomas W. Eberhardt
Director of Investor Relations
847-374-1949
FOR IMMEDIATE RELEASE:
APAC ANNOUNCES STOCK REPURCHASE PLAN
Deerfield, Ill. (August 31, 1998) -- APAC TeleServices, Inc. (NASDAQ: APAC), a
premier provider of outsourced customer service and sales, today announced that
its Board of Directors has authorized the repurchase of up to 2.5 million shares
or about 5% of its outstanding common stock. The stock repurchases will be made
in the open market, or privately negotiated transactions, depending on market
conditions.
"We believe that the current stock price is greatly undervalued and does not
reflect the Company's future prospects", stated Theodore G. Schwartz, Chairman
and Chief Executive Officer of APAC. "The share repurchase program expresses
our confidence in the Company and underscores the commitment of management to
enhancing long-term shareholder value."
Headquartered in the Chicago suburb of Deerfield, Illinois, APAC operates 90
customer contact centers with more than 25,000 employees in 19 states. Founded
in 1973, APAC seeks to optimize the value of its clients' customer relationships
by improving customer service, increasing sales, leveraging technology and
managing change for corporate growth. The company's Web site address is
www.apacteleservices.com.
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