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TTEC Announces Second Quarter 2018 Financial Results

 
Second Quarter 2018
Signs $140 Million in New Business
Revenue was $349.9 Million ($345.9 Million Non-GAAP AHFS/WD)
Operating Income was $13.5 Million or 3.9 Percent of Revenue ($15.3 Million or 4.4 Percent Non-GAAP AHFS/WD)
Fully Diluted EPS was 12 Cents (EPS was 22 Cents Non-GAAP)
Updates Outlook for Full Year 2018
 

DENVER, Aug. 7, 2018 /PRNewswire/ -- TTEC Holdings, Inc. (NASDAQ: TTEC), a leading global customer experience technology and services provider focused on the design, implementation and delivery of transformative solutions for many of the world's most iconic and disruptive brands, today announced financial results for the second quarter ended June 30, 2018.

"The market for digital customer engagement technology and services is experiencing unprecedented demand," commented Ken Tuchman, chairman and chief executive officer. "With our outcome-based, end-to-end customer experience technology and services platform we are actively taking advantage of this immense digital opportunity. Our growing pipeline across the business and the highest quarterly bookings in over 10 years demonstrate that our value proposition is resonating and taking hold with this rapidly expanding market."

Tuchman continued, "Based on our current and estimated 2018 new business volumes and backlog, we now anticipate a noteworthy uptick in our organic growth in 2019. However, given a short list of unanticipated temporary challenges in our Customer Management Services segment that are specific to 2018, we are resetting our outlook for 2018. We are confident these factors will be cleared this year and, based on Customer Management Services' estimated bookings and current momentum in our Customer Growth, Technology and Strategy segments, we project we will be back on track in 2019."

Tuchman concluded, "As we look to the second half of the year, we are focused on executing the conversion of our new business pipeline and delivering on our growing revenue backlog. Our demand engine is operating on all cylinders, our pipeline and backlog are robust, our consulting, technology and analytics capabilities are gaining traction, and our operational platform is scaling to support the demand."

SECOND QUARTER 2018 FINANCIAL HIGHLIGHTS

Revenue        

  • Second quarter 2018 GAAP revenue decreased 1.0 percent to $349.9 million compared to $353.4 million in the prior year period.
  • Non-GAAP AHFS/WD revenue decreased 0.4 percent to $345.9 million over the prior year period.
  • ASC 606 had a $2.4 million positive impact on revenue in the second quarter 2018.

Income from Operations

  • Second quarter 2018 GAAP income from operations was $13.5 million, or 3.9 percent of revenue, compared to $21.6 million, or 6.1 percent of revenue in the second quarter 2017.
  • Non-GAAP AHFS/WD income from operations, excluding $1.0 million in restructuring, was $15.3 million or 4.4 percent of adjusted revenue versus 7.3 percent in the prior year.
  • ASC 606 had a $1.6 million positive impact on income from operations in the second quarter 2018.

Adjusted EBITDA        

  • Non-GAAP Adjusted EBITDA was $35.4 million, or 10.1 percent of revenue, compared to $45.4 million, or 12.8 percent of revenue in the second quarter 2017.

Earnings Per Share

  • Second quarter 2018 GAAP fully diluted earnings per share attributable to TTEC shareholders was $0.12 compared to $0.32 in the same period last year.
  • Non-GAAP fully diluted earnings per share was $0.22 compared to $0.40 in the prior year.

Bookings

  • During the second quarter 2018, TTEC signed an estimated $140 million in annualized contract value from new and expanded client relationships. The second quarter bookings mix was diversified across segments, verticals, and geographies.

GAAP metrics are presented in accordance with Generally Accepted Accounting Principles, including the impact from TTEC's January 1, 2018 adoption of Accounting Standards Codification (ASC) 606 "Revenue from Contracts with Customers" using the modified retrospective method.

Non-GAAP AHFS/WD (excluding assets held for sale and wind-down) - As reflected in the attached reconciliation table, the definition of Non-GAAP AHFS/WD excludes from revenue and operating income (i) assets held for sale and wind-down, and (ii) impairment, restructuring and integration charges.

Non-GAAP Adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) – As reflected in the attached reconciliation table.

STRONG BALANCE SHEET CONTINUES TO FUND OPERATIONS, DIVIDENDS, AND INVESTMENTS

  • As of June 30, 2018, TTEC had cash and cash equivalents of $71.3 million and debt of $309.3 million, resulting in a net debt position of $238.0 million. This compares to a net debt position of $195.4 million in the prior year period.
  • As of June 30, 2018, TTEC had approximately $395 million of additional borrowing capacity available under its revolving credit facility versus $385 million in the prior year period.
  • Cash flow from operations in the second quarter 2018 was $37.3 million compared to $50.5 million in the second quarter 2017
  • Capital expenditures in the second quarter 2018 were $9.4 million compared to $17.6 million in the second quarter 2017.
  • Paid a $12.4 million dividend, or 27-cents per share, on April 12, 2018 to shareholders of record as of March 30, 2018. The dividend represented an approximate 23 percent increase over the distribution paid in April 2017.

SEGMENT REPORTING & COMMENTARY

TTEC reports financial results for the following four business segments: Customer Management Services (CMS), Customer Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS).  Financial highlights for the segments are provided below.

Customer Management Services (CMS) – Customer Experience Delivery Solutions

  • CMS second quarter 2018 GAAP revenue declined 2.5 percent to $262.2 million compared to $269.1 million in the year ago quarter. Income from operations was $3.8 million or 1.4 percent of revenue compared to $14.1 million or 5.2 percent of revenue in the prior year.
  • Non-GAAP income from operations was $4.8 million or 1.8 percent of revenue. This compares to $17.7 million or 6.6 percent of revenue in the prior year.
  • ASC 606 had a $2.4 million and $1.6 million positive impact on revenue and income from operations, respectively.

Customer Growth Services (CGS) – Digitally-Enabled Revenue Growth Solutions

  • CGS second quarter 2018 GAAP revenue increased 8.4 percent to $35.1 million compared to $32.4 million in the year ago quarter. Income from operations was $3.0 million or 8.4 percent of revenue compared to $2.3 million or 7.2 percent of revenue in the prior year.
  • Non-GAAP AHFS/WD revenue increased 12.3 percent to $35.1 million over the year ago period and income from operations was $2.9 million or 8.4 percent of adjusted revenue. This compares to $2.4 million or 7.6 percent of adjusted revenue in the prior year.

Customer Technology Services (CTS) – Hosted and Managed Technology Solutions

  • CTS second quarter 2018 GAAP revenue declined 2.8 percent to $33.8 million compared to $34.8 million in the year ago quarter. Income from operations was $5.6 million or 16.5 percent of revenue compared to $3.8 million or 11.0 percent of revenue in the prior year.
  • Non-GAAP AHFS/WD revenue increased 5.7 percent to $33.8 million over the year ago period and income from operations was $5.6 million or 16.5 percent of adjusted revenue. This compares to $3.7 million or 11.6 percent of adjusted revenue in the prior year.

Customer Strategy Services (CSS) – Customer Experience Strategy and Data Analytics Solutions

  • CSS second quarter 2018 GAAP revenue increased 8.8 percent to $18.7 million from $17.2 million in the year ago quarter. Income from operations was $1.2 million or 6.4 percent of revenue compared to $1.4 million or 8.0 percent of revenue in the prior year.
  • Non-GAAP AHFS/WD revenue declined 2.5 percent to $14.7 million over the year ago period and income from operations was $2.0 million or 13.5 percent of adjusted revenue. This compares to operating income of $1.7 million or 11.3 percent of revenue in the prior year.

BUSINESS OUTLOOK

"The first half of 2018 was marked by a number of strategic accomplishments," commented Regina Paolillo, chief financial and administrative officer at TTEC. "Most notably, our growing pipeline is converting into larger and more transformative bookings across geographies, industries, and our emerging digital capabilities. We are also seeing further pipeline growth in the second half of the year with significant early new business signings in the third quarter."

Paolillo continued, "While we met our consolidated second quarter revenue target, our profitability fell short of our plan due to unanticipated short-term challenges in our customer management business. At the same time our value changing customer strategy, technology and growth businesses performed at or above plan. Our updated full-year 2018 outlook is a function of these challenges. We are keenly focused on growing our pipeline, bookings, and backlog, setting the stage for improved revenue growth and profitability in 2019. Our view is that these challenges will be resolved in 2018 enabling us to increase our revenue growth rate and expand our Adjusted EBITDA and operating income margins early in 2019."

Full year 2018 guidance, which includes the adoption of ASC 606, but excludes AHFS/WD, is updated as follows:

  • Revenue – Revenue estimated to increase 2.3 to 3.0 percent between $1.490 and $1.500 billion compared to $1.505 and $1.525 billion previously provided guidance.
  • Adjusted EBITDA Margin(1) – Adjusted EBITDA margin estimated between 12.8 and 13.2 percent, compared to 13.9 and 14.2 percent previously provided guidance.
  • Operating Income Margin – Operating income margin estimated between 7.4 and 7.8 percent compared to 8.7 and 8.9 percent previously provided guidance.
  • Capital Expenditures – Capital expenditures are unchanged, estimated at 3.8 percent of revenue, of which approximately 70 percent is growth oriented.

(1) Calculation methodology as shown in the attached reconciliation table.

About TTEC 

TTEC Holdings, Inc. (NASDAQ: TTEC) is a leading global customer experience technology and services provider focused on the design, implementation and delivery of transformative customer experience for many of the world's most iconic and disruptive brands. The Company delivers outcome-based customer engagement solutions through TTEC Digital, its digital consultancy that designs and builds human centric, tech-enabled, insight-driven customer experience solutions for clients and TTEC Engage, its delivery center of excellence, that operates customer acquisition, care, growth and digital trust and safety services. Founded in 1982, the Company's 47,800 employees operate on six continents across the globe and live by a set of customer-focused values that guide relationships with clients, their customers, and each other. To learn more about how TTEC is bringing humanity to the customer experience, visit www.ttec.com.

NON-GAAP FINANCIAL MEASURES

This press release contains a discussion of certain non-GAAP financial measures that the Company includes to allow investors and analysts to measure, analyze and compare its financial condition and results of operations in a meaningful and consistent manner. A reconciliation of these non-GAAP financial measures can be found in the tables accompanying this press release.

FORWARD-LOOKING STATEMENTS

This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TTEC Holding, Inc.'s management and are subject to significant risks and uncertainties. Actual results may differ from what is expressed in the forward-looking statements. Factors that could cause TTEC's results to differ materially from those described in the forward-looking statements can be found in TTEC's Annual Report on Form 10-K for the year ended December 31, 2017, which has been filed with the U.S. Securities and Exchange Commission (the "SEC") and is available on TTEC's website www.ttec.com, and on the SEC's public website at www.sec.gov. TTEC Holdings, Inc. does not undertake to update any forward-looking statements.

Investor Relations Contact

Paul Miller

+1.303.397.8641

Public Relations Contact

Olivia Griner

+1.303.397.8999

Address

9197 South Peoria Street

Englewood, CO 80112

Contact

ttec.com

+1.800.835.3832

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(unaudited)

                 
                 
   

Three months ended

 

Six months ended

   

 June 30,

 

 June 30,

   

2018

 

2017

 

2018

 

2017

                 

Revenue

$349,853

 

$353,429

 

$725,102

 

$691,706

                 

Operating Expenses:

             
 

Cost of services

274,260

 

268,004

 

557,630

 

521,902

 

Selling, general and administrative

44,245

 

43,985

 

91,290

 

87,205

 

Depreciation and amortization

16,811

 

16,258

 

34,735

 

30,758

 

Restructuring and integration charges, net

1,034

 

3,593

 

1,883

 

3,762

 

Impairment losses

-

 

-

 

1,120

 

-

         Total operating expenses

336,350

 

331,840

 

686,658

 

643,627

                 

Income From Operations

13,503

 

21,589

 

38,444

 

48,079

                 
 

Other income (expense)

(6,553)

 

(4,198)

 

(23,460)

 

(5,130)

                 

Income Before Income Taxes

6,950

 

17,391

 

14,984

 

42,949

                 
 

Provision for income taxes

(653)

 

(1,597)

 

(2,755)

 

(6,988)

                 

Net Income

6,297

 

15,794

 

12,229

 

35,961

                 
 

Net income attributable to noncontrolling interest

(779)

 

(1,100)

 

(2,120)

 

(2,022)

                 

Net Income Attributable to TTEC Stockholders

$    5,518

 

$  14,694

 

$  10,109

 

$  33,939

                 

Net Income Per Share Attributable to TTEC Stockholders

             
                 
 

Basic

$     0.12

 

$     0.32

 

$     0.22

 

$     0.74

                 
 

Diluted

$     0.12

 

$     0.32

 

$     0.22

 

$     0.73

                 
                 

Income From Operations Margin

3.9%

 

6.1%

 

5.3%

 

7.0%

Net Income Attributable to TTEC Stockholders Margin

1.6%

 

4.2%

 

1.4%

 

4.9%

Effective Tax Rate

9.4%

 

9.2%

 

18.4%

 

16.3%

                 
                 

Weighted Average Shares Outstanding

             

  Basic

46,016

 

45,662

 

45,944

 

45,805

  Diluted

46,401

 

46,150

 

46,424

 

46,224

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

SEGMENT INFORMATION

(In thousands)

(unaudited)

               
               
 

Three months ended

 

Six months ended

 

 June 30,

 

 June 30,

 

2018

 

2017

 

2018

 

2017

               

Revenue:

             

Customer Management Services

$262,213

 

$269,056

 

$554,854

 

$521,135

Customer Growth Services

35,140

 

32,403

 

67,680

 

66,061

Customer Technology Services

33,816

 

34,798

 

69,024

 

70,491

Customer Strategy Services

18,684

 

17,172

 

33,544

 

34,019

Total

$349,853

 

$353,429

 

$725,102

 

$691,706

               

Income From Operations:

             

Customer Management Services

$    3,773

 

$  14,075

 

$  21,988

 

$  34,671

Customer Growth Services

2,966

 

2,321

 

4,346

 

4,731

Customer Technology Services

5,566

 

3,819

 

10,410

 

6,876

Customer Strategy Services

1,198

 

1,374

 

1,700

 

1,801

Total

$  13,503

 

$  21,589

 

$  38,444

 

$  48,079

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands)

(unaudited)

       
 

 June 30,

 

 December 31, 

 

2018

 

2017

       
       

ASSETS

     

Current assets:

     

   Cash and cash equivalents

$  71,260

 

$           74,437

   Accounts receivable, net

315,756

 

385,751

   Other current assets

84,336

 

74,767

   Assets held for sale

9,163

 

7,835

      Total current assets

480,515

 

542,790

       

Property and equipment, net

156,210

 

163,297

Other assets

351,805

 

372,649

       

Total assets

$988,530

 

$      1,078,736

       

LIABILITIES AND EQUITY

     

Total current liabilities

$198,460

 

$         200,456

Liabilities held for sale

3,788

 

1,322

Other long-term liabilities

454,618

 

514,113

Total equity

331,664

 

362,845

       

Total liabilities and equity

$988,530

 

$      1,078,736

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION

(In thousands, except per share data)

(unaudited)

                 
   

Three months ended

 

Six months ended

   

 June 30,

 

 June 30,

   

2018

 

2017

 

2018

 

2017

                 
                 

Reconciliation of Adjusted EBITDA:

               
                 

Net Income

 **

$    6,297

 

$  15,794

 

$  12,229

 

$  35,961

   Interest income

 

(1,471)

 

(695)

 

(2,539)

 

(1,121)

   Interest expense

 

7,765

 

2,912

 

14,224

 

5,230

   Provision for income taxes

 

653

 

1,597

 

2,755

 

6,988

   Depreciation and amortization

 

16,811

 

16,258

 

34,735

 

30,758

   Asset impairment, restructuring and integration charges

 

1,034

 

3,593

 

3,003

 

3,762

   Impairment of equity investment

 

-

 

-

 

15,632

 

-

   Gain on sale of business unit

 

(271)

 

(30)

 

(1,065)

 

(30)

   Estimated loss of assets held for sale

 

2,000

 

3,178

 

2,000

 

3,178

   Gain on bargain purchase of acquisition

 

-

 

-

 

(685)

 

-

   Equity-based compensation expenses

 

2,574

 

2,795

 

6,183

 

4,836

                 

 Adjusted EBITDA

 

$  35,392

 

$  45,402

 

$  86,472

 

$  89,562

                 
                 

Reconciliation of Free Cash Flow:

               
                 

Cash Flow From Operating Activities:

               

   Net income

 **

$    6,297

 

$  15,794

 

$  12,229

 

$  35,961

   Adjustments to reconcile net income to net cash provided by operating activities:

               

          Depreciation and amortization

 

16,811

 

16,258

 

34,735

 

30,758

          Other

 

14,211

 

18,471

 

57,742

 

58,736

   Net cash provided by operating activities

 

37,319

 

50,523

 

104,706

 

125,455

                 

Less - Total Capital Expenditures

 

9,375

 

17,554

 

16,883

 

29,589

                 

Free Cash Flow

 

$  27,944

 

$  32,969

 

$  87,823

 

$  95,866

                 
                 

Reconciliation of Non-GAAP Income from Operations:

               
                 

Income from Operations

 **

$  13,503

 

$  21,589

 

$  38,444

 

$  48,079

Restructuring and integration charges, net

 

1,034

 

3,593

 

1,883

 

3,762

Impairment losses

 

-

 

-

 

1,120

 

-

                 

Non-GAAP Income from Operations

 

$  14,537

 

$  25,182

 

$  41,447

 

$  51,841

                 

Non-GAAP Income from Operations Margin

 

4.2%

 

7.1%

 

5.7%

 

7.5%

                 
                 

Reconciliation of Non-GAAP EPS:

               
                 

Net Income

 **

$    6,297

 

$  15,794

 

$  12,229

 

$  35,961

Add:  Asset impairment, restructuring and integration charges, net of related taxes

 

800

 

2,165

 

2,164

 

2,282

Add:  Estimated loss on assets held for sale, net of related taxes

 

2,000

 

1,907

 

2,000

 

1,907

Add:  Interest charge related to future purchase of remaining 30% for Motif acquisition

 

3,062

 

-

 

4,987

 

-

Add:  Impairment of equity investment, net of related taxes

 

-

 

-

 

11,411

 

-

Less:  Gain on sale of business unit

 

(198)

 

(18)

 

(778)

 

(18)

Less:  Gain on bargain purchase of acquisition

 

-

 

-

 

(500)

 

-

Add:  Changes in valuation allowance, returns to provision adjustments and other

 

(1,681)

 

(1,363)

 

(1,758)

 

(1,399)

                 

 Non-GAAP Net Income

 

$  10,280

 

$  18,485

 

$  29,755

 

$  38,733

                 

    Diluted shares outstanding

 

46,401

 

46,150

 

46,424

 

46,224

                 

 Non-GAAP EPS

 

$0.22

 

$0.40

 

$0.64

 

$0.84

 

 ** The numbers above include the adoption of ASC 606 and include the following second quarter and YTD 2018 amounts :

           Second Quarter 2018 Revenue :  + $2.4 million,     YTD 2018 Revenue :  $14.9 million

           Second Quarter 2018 Operating Income :  + $1.6 million,     YTD 2018 Operating Income :   $7.9 million

           Second Quarter 2018 Net Income :  + $1.2 million,    YTD 2018 Net Income :    $5.7 million

 

TTEC Holdings, Inc.

Non-GAAP AHFS/WD Reconciliation & Year-over-Year (YoY) Growth Rate Comparison

U.S. Dollars in Thousands

                         

SECOND QUARTER

                   

(three months end, June 30, 2018)

                   
                         

Revenue

 

Operating Income

TTEC Digital

GAAP
Revenue

Revenue
Contribution
from AHFS/WD

Non-GAAP
Revenue
(excluding
AHFS/WD)

 

TTEC Digital

GAAP
Operating
Income

Non-GAAP
Operating
Income
Adjustments

Non-GAAP
Operating
Income

Operating
Income
Contribution
from AHFS/WD

Non-GAAP
Operating
Income
(excluding
AHFS/WD)

CTS

 

$    33,816

$               -

$     33,816

 

CTS

 

$      5,566

$              -

$      5,566

$              (20)

$       5,586

 

YoY Growth Rate:

-2.8%

 

5.7%

   

Operating Margin:

16.5%

 

16.5%

 

16.5%

CSS

 

$    18,684

$          3,997

$     14,687

 

CSS

 

$      1,198

$              -

$      1,198

$            (785)

$       1,983

 

YoY Growth Rate:

8.8%

 

-2.5%

   

Operating Margin:

6.4%

 

6.4%

 

13.5%

                         

TTEC Engage

 

TTEC Engage

CMS

 

$  262,213

$               -

$   262,213

 

CMS

 

$      3,773

$         1,038

$      4,811

$               -

$       4,811

 

YoY Growth Rate:

-2.5%

 

-2.5%

   

Operating Margin:

1.4%

 

1.8%

 

1.8%

CGS

 

$    35,140

$               -

$     35,140

 

CGS

 

$      2,966

$              (4)

$      2,962

$               15

$       2,947

 

YoY Growth Rate:

8.4%

 

12.3%

   

Operating Margin:

8.4%

 

8.4%

 

8.4%

                         

Company (Consolidated)

$  349,853

$          3,997

$   345,856

 

Company

$    13,503

$         1,034

$     14,537

$            (790)

$     15,327

 

YoY Growth Rate:

-1.0%

 

-0.4%

   

Operating Margin:

3.9%

 

4.2%

 

4.4%

                         

Segments Defined: CMS (Customer Management Services), CGS (Customer Growth Services), CTS (Customer Technology Services), CSS (Customer Strategy Services)

 

Non-GAAP AHFS/WD Defined: Excludes from revenue and operating income i) assets held for sale and wind-down, and ii) impairment, restructuring and integration charges.

                         
                         

Non-GAAP AHFS/WD Reconciliation & Year-over-Year (YoY) Growth Rate Comparison

U.S. Dollars in Thousands

                         

YEAR-TO-DATE

                   

(six months end, June 30, 2018)

                   
                         

Revenue

 

Operating Income

TTEC Digital

GAAP
Revenue

Revenue
Contribution
from AHFS/WD

Non-GAAP
Revenue (excluding
AHFS/WD)

 

TTEC Digital

GAAP
Operating
Income

Non-GAAP
Operating
Income
Adjustments

Non-GAAP
Operating
Income

Operating
Income
Contribution
from AHFS/WD

Non-GAAP
Operating
Income
(excluding
AHFS/WD)

CTS

 

$    69,024

$               -

$     69,024

 

CTS

 

$    10,410

$              -

$     10,410

$              (21)

$     10,431

 

YoY Growth Rate:

-2.1%

 

8.3%

   

Operating Margin:

15.1%

 

15.1%

 

15.1%

CSS

 

$    33,544

$          5,605

$     27,939

 

CSS

 

$      1,700

$              51

$      1,751

$         (1,249)

$       3,000

 

YoY Growth Rate:

-1.4%

 

-5.4%

   

Operating Margin:

5.1%

 

5.2%

 

10.7%

                         

TTEC Engage

 

TTEC Engage

CMS

 

$  554,854

$               -

$   554,854

 

CMS

 

$    21,988

$         2,311

$     24,299

$               -

$     24,299

 

YoY Growth Rate:

6.5%

 

6.5%

   

Operating Margin:

4.0%

 

4.4%

 

4.4%

CGS

 

$    67,680

$                 1

$     67,679

 

CGS

 

$      4,346

$            641

$      4,987

$              (10)

$       4,997

 

YoY Growth Rate:

2.5%

 

6.1%

   

Operating Margin:

6.4%

 

7.4%

 

7.4%

                         

Company (Consolidated)

$  725,102

$          5,606

$   719,496

 

Company

$    38,444

$         3,003

$     41,447

$         (1,280)

$     42,727

 

YoY Growth Rate:

4.8%

 

6.1%

   

Operating Margin:

5.3%

 

5.7%

 

5.9%

                         

Segments Defined: CMS (Customer Management Services), CGS (Customer Growth Services), CTS (Customer Technology Services), CSS (Customer Strategy Services)

 

Non-GAAP AHFS/WD Defined: Excludes from revenue and operating income i) assets held for sale and wind-down, and ii) impairment, restructuring and integration charges.

SPOTLIGHT

NEWS & EVENTS
CONTACT US

9197 South Peoria Street
Englewood, CO, U.S.A
80112-5833

Phone for general inquiries

US: +1.800.835.3832
INT: +1.303.397.8100

Phone for services information

US: +1.877.206.8119
INT: +1.480.389.1436

 
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