StarTek, Inc. (NYSE:SRT) Q1 2020 Earnings Conference Call - Final Transcript

Jun 10, 2020 • 05:00 pm ET

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StarTek, Inc. (NYSE:SRT) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon, everyone, and thank you for participating in today's conference call to discuss Startek's financial results for the quarter ended March 31, 2020. Joining us today are Startek's Chairman and CEO, Aparup Sengupta; the company's President, Rajiv Ahuja; and the company's CFO, Ramesh Kamath. Following their remarks, we'll open the call for your questions.

Before we continue, we would like to remind all participants that the discussion today may contain certain statements, which are forward-looking in nature, pursuant to the safe harbor provisions of the federal securities laws. These statements are based on information currently available to us, and are subject to various risks and uncertainties that could cause actual results to differ materially. StarTek advises all those listening to this call to review the latest 10-Q and 10-K posted on its website for a summary of these risks and uncertainties. StarTek does not undertake the responsibility to update any forward-looking statements.

Further, the discussion today may include some non-GAAP measures. In accordance with Regulation G, the company has reconciled these amounts back to the closest GAAP-based measurement. The reconciliations can be found in the earnings release on the Investors section of their website.

I would like to remind everyone that a webcast replay of today's call will be available via the Investors section of the company's website at www.startek.com.

Now I would like to turn the call over to Startek's Executive Chairman and Global CEO, Aparup Sengupta. Sir, please proceed.

Executive
Aparup Sengupta

Thank you very much indeed, Latif. Good afternoon, everyone, and thank you all for joining. I would first like to acknowledge that we remain in uncertain and rapidly changing times as we navigate the COVID-19 pandemic. We extend our deepest sympathies to the families around the world who are dealing with the health and economic consequences of this tragic circumstances. The world we live in today is not the same as we operated during the early months of 2020. So we will keep our initial comments on the first quarter brief and will dedicate most of our time to discussing the current state of the business and what we are doing in response to COVID-19.

Since the onset of the pandemic, our top priority has continued to be our employees' health and safety, while providing ongoing support for our clients. Late March and early April were the most challenging periods for our business as the sudden government mandated lockdowns immediately impacted our operations. During this period, we were operating with a fraction of our global workforce, with the impacts from the pandemic varying by geography.

However, I can proudly say that we have since taken very effective measures to partially offset the impact of this unprecedented challenge faced by the world. A key component of our response has been the implementation of our business continuity planning. We enabled many employees to work from home after obtaining necessary client approvals and we took a people first approach to ensuring that our delivery campuses could operate under proper social distancing and