PeopleSupport income grows to $32.2M in 2007

MANILA, Philippines- Profit at call center operator PeopleSupport Inc. reached $32.2 million or $1.37 per diluted share in 2007, from $14.2 million, or $0.72 per diluted share in 2006, due to more efficient operations and increased productivity, the company said. In a statement posted on its website, Nasdaq-listed PeopleSupport, which has the Philippines as its base of operations, said 2006 revenues rose 28 percent year-on-year to $140.6 million. "Net income was strong at $32.2 million for the year due to operational efficiency and productivity gains. Operations are running well, IT is highly scalable and fault tolerant, our sales pipeline is the strongest in our history, our sales team has nearly doubled in size, and we established a sales and marketing presence in Europe," said Lance Rosenzweig, PeopleSupport chief operating officer. Rosenzweig also noted that strong revenue growth was recorded despite the departure of its client Vonage, a leading provider of VoIP telephone service. The official also reported that it plans to sell both land in Manila and existing peso-denominated forward contracts. This, he said, would generate over $25 million in pre-tax cash for the company. The firm also announced that it has received board approval for its second $25 million dollar stock repurchase program. - GMANews.TV