ICT Group to add 500 more seats
to Philippine operations
itmatters.com.ph - May03, 2006
Nasdaq-listed ICT Group, Inc. is set to add 500 more seats in its
Philippine operation before the year ends on continuing business
"In the Philippines, we added 300 workstations in the first quarter
for a total of 1,910 workstations and expect to add at least 500
more this year," ICT Group chairman and chief executive John J.
Brennan said in its first quarter report. The 300 seats
mentioned by Mr. Brennan are housed in the com-pany’s newly-opened
5,000-square meter office building inside the Riverbanks Center in
Marikina City. This is expected to have up to 800 seats in operation
within the second half.
The facility used to be a factory of
Universal Textile Mills, Inc., part of the 14-hectare property that
the developer, Riverbanks Develop-ment Corp., bought from the
textile company. "Since we last reported, we have captured
services business from new clients in the healthcare, energy,
business services and telecommunications sectors, which we expect to
start in the second and third quarters of the year," Mr. Brennan
said. Aside from its facility in Marikina, ICT also operates
two sites, one in Makati City and another in Ortigas Center, which
began opera-tion in April 2003 and in July 2004, respectively.
All the three sites support clients
based in the US, United Kingdom, Canada and Australia. The company
targets its Philippine operation to account for over 25% of its
global production by the fourth quarter, an increase from 17% in the
same period last year.
Abroad, Mr. Brennan said the company
is also planning to open its first facility in India this May for
its US clients and open another facility in Costa Rica in July to
service customers from North America and Europe.
For the first quarter, ICT Group reported $113.1 million in
revenues, 20% higher than the $94.0 million posted in the same
period last year.
First quarter net income was $2.8 million, or $0.21 per diluted
share, compared to $1.1 million, or $0.08 per diluted share during
the same period last year.
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