UNITED STATES
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 24, 2020
TTEC Holdings, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-11919 | 84-1291044 |
| (State or other jurisdiction | (Commission file | (IRS Employer |
| of incorporation) | number) | Identification Number) |
9197 S. Peoria Street, Englewood, CO 80112-5833
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: 303-397-8100
Not Applicable
(Former name or former address if changed since last report)
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): | |
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common stock of TTEC Holdings, Inc., $0.01 par value per share |
TTEC | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 7.01. Regulation FD Disclosure.
On March 4, 2020, TTEC Holdings, Inc. (“TTEC”) issued a press release announcing its financial results for its fourth quarter and fiscal year ended December 31, 2019, and its outlook for 2020, including revenue. Based on the rapidly evolving developments surrounding the coronavirus/COVID-19 outbreak around the world and various government-led virus containment measures, including in some of the countries where TTEC does business, TTEC has decided to withdraw its 2020 guidance at this time. TTEC will provide more information about the company’s views on its business outlook during its first quarter earnings call.
On March 24, 2020, TTEC issued a press release relating to the company’s 2020 guidance in light of coronavirus/COVID-19 outbreak. A copy of the press release is attached hereto as Exhibit 99.1.
The information furnished under this Item 7.01, including the press release, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release Updating TTEC’s 2020 Outlook and COVID-19 Impacts |
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TTEC Holdings, Inc. | ||
| (Registrant) | ||
| Date: March 24, 2020 | By: | /s/ Regina M. Paolillo |
|
Regina M. Paolillo Chief Financial Officer | ||
| 2 |
Exhibit 99.1
TTEC Provides Financial Outlook Update due to Impact of COVID-19
Withdraws guidance for 2020 due to increased uncertainty related to impact of COVID-19
Maintains a strong liquidity position and healthy balance sheet
DENVER, March 24, 2020 – TTEC Holdings, Inc. (NASDAQ: TTEC), a leading digital global customer experience technology and services company focused on the design, implementation and delivery of transformative solutions for many of the world’s most iconic and disruptive brands, today announced the following business update.
TTEC’s priority is the health and safety of its employees, clients’ service, and support of communities where it operates during these rapidly changing and unprecedented times. TTEC began preparing for the potential consequences of coronavirus/COVID-19 outbreak over two months ago. The company continues to serve its clients’ evolving needs through proactively leveraging its global contact center technology infrastructure and ensuring that its employees and clients have the access, tools, and technology they require to continue working safely and efficiently.
The company’s approach to @home work and business continuity support has been built over many decades, and includes helping clients establish and execute contingency plans across their operations with rapid deployment of scaled @home resources, on-demand remote capacity, and virtual technology solutions that help reduce risk and provide frontline assistance during this crisis.
Recent government-imposed restrictions around the world have significantly impacted businesses and their workforces. Certain TTEC operating centers have been affected by local lockdowns and restrictions on facilities access. Others may be impacted as the coronavirus/COVID-19 spreads. Given the overall uncertainty and fluidity of the current global pandemic response, coupled with how various government-imposed limitations may translate into client service delivery constraints, TTEC is withdrawing the guidance provided on March 4, 2020. TTEC continues to be highly engaged with new and existing clients leveraging its technology solutions and service capabilities to help its clients and their customers in this time of need. The company will provide more detailed analysis in conjunction with its first quarter 2020 earnings report.
TTEC continues to maintain a strong liquidity position and healthy balance sheet.
About TTEC
TTEC Holdings, Inc. (NASDAQ: TTEC) is a leading global customer experience technology and services company 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, fraud prevention and detection, and content moderation services. Founded in 1982, the Company's 49,500 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
|
Investor Relations Contact Paul Miller +1.303.397.8641 |
Public Relations Contact Nick Cerise +1.303.397.8331 |
Address 9197 South Peoria Street Englewood, CO 80112 |
Contact ttec.com +1.800.835.3832 |
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. Specifically, we would like for you to focus on risks related to our strategy execution, our ability to innovate and introduce technologies that are sufficiently disruptive to allow us to maintain and grow our market share, cybersecurity risk and risks inherent to our equity structure. Actual results may differ from what is expressed in the forward-looking statements. Risk 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, 2019, 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.
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|
Investor Relations Contact Paul Miller +1.303.397.8641 |
Public Relations Contact Nick Cerise +1.303.397.8331 |
Address 9197 South Peoria Street Englewood, CO 80112 |
Contact ttec.com +1.800.835.3832 |