Shares of StarTek Inc. (SRT) Soaring in the Mid-Day Wednesday Session
Shares of StarTek Inc. (NYSE: SRT), a provider of business process outsourcing services, are seeing a huge rally in today’s trading.
At last check, the penny stock of SRT was trading 39.01% higher at $2.53, with volume up from daily average of 21,086 to 376,876.
SRT shares are soaring in today’s trading after the company reported its first-quarter 2012 financial results. For the first quarter ended March 31, 2012, the company reported revenue of $50.9 million. Adjusted EBITDA for the quarter was $1.2 million.
SRT’s gross margin for the quarter rose from 7.7% in the previous quarter to 10.5% in the first quarter.
Chad Carlson, President and CEO of StarTek, said that SRT grew its client revenues, greatly improved DSO through better process management and is on track with its roadmap initiatives, which will bring further G&A savings into the second half of the year.
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