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) March 30, 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 March 30, 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 March 30, 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: March 31, 1998 APAC TELESERVICES, INC.
By: /s/ John I. Abernethy
John I. Abernethy
Chief Financial Officer
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
INVESTOR CONTACT:
Thomas W. Eberhardt
Director, Treasury Operations
374-1949
MEDIA CONTACT:
Daniel Bauer
Vice President
(847) 374-1943
APAC EXPECTS REVENUES AND EARNINGS
TO BE SLIGHTLY BELOW ESTIMATES
(Deerfield, IL - March 30, 1998) - APAC TeleServices, Inc. (NASDAQ: APAC),
a leading provider of outsourced customer service and sales, stated today that
revenues and earnings for its first quarter of 1998 will be slightly below
estimates due to timing of client initiatives. Revenues are expected to be
approximately $91 million compared to prior estimates of $95 million, and
earnings of $0.10 - $0.11 per share are anticipated as compared to previous
estimates of $0.14 per share.
The company explains that these timing differences and delays in the
implementation of client programs resulted in lower revenue and earnings
estimates for the first quarter, but expects to recapture these volumes
throughout the remainder of 1998.
"Our business prospects are very strong," stated Theodore G. Schwartz, APAC
chairman and chief executive officer. "I am very bullish on our current
business prospects and the expected positive impact of our major business and
client initiatives."
Headquartered in the Chicago suburb of Deerfield, Ill., APAC operates 68
customer contact centers and has more than 14,000 employees in 14 states. The
company seeks to optimize the value of its clients' customer relationships by
improving customer service, increasing sales, leveraging technology and managing
change for corporate growth. Clients include some of the best-managed, most
highly respected corporations in America. These organizations represent a wide
range of industries including business and consumer products, financial
services, insurance, delivery, retail, technology, telecommunications and
utilities. The company's Web site address is www.apacteleservices.com.
Statements contained herein regarding APAC's expected growth, prospective
business opportunities and future expansion plans are forward-looking statements
that involve substantial risks and uncertainties. In accordance with the
Private Securities Litigation Reform Act of 1995, following are important
factors that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements: There can be no
assurance that APAC will be able to maintain or accelerate its growth rate,
effectively manage its rapid growth or maintain its profitability. There also
can be no assurance that APAC can build out facilities in a timely and economic
manner. In the future, APAC may experience excess peak period capacity when it
opens a new customer contact center or terminates or completes a large client
program. APAC's agreements with its clients generally do not ensure that APAC
will generate a specific level of net revenue, do not designate APAC as the
client's exclusive service provider, and many are terminable by the client on
relatively short notice. In addition, the amount of net revenue APAC generates
from a particular client generally is dependent upon customers' interest in, and
use of, the client's products or services. Readers are encouraged to review the
section captioned "Information Regarding Forward-Looking Statements" on Form 10-
K in APAC's Annual Report for the year ended Dec. 29, 1996, which describes
other important factors that may impact APAC's business, results of operations
and financial condition.
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