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): November 8, 2007
TeleTech Holdings, Inc.
(Exact name of registrant as specified in its charter)
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| Delaware
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001-11919
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84-1291044 |
(State of
Incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.) |
9197 S. Peoria Street, Englewood, Colorado 80112
(Address of principal executive offices, including Zip Code)
Telephone Number: (303) 397-8100
(Registrant’s telephone number, including area code)
(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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)) |
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| Item 2.02. |
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Results of Operation and Financial Condition |
The following information is being “furnished” in accordance with General Instruction of Form 8-K
and shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of
1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor
shall it be deemed incorporated by reference to any filing under the Securities Act of 1933, as
amended or the Exchange Act.
On
November 8, 2007, TeleTech Holdings, Inc. (“TeleTech”) issued a press release announcing
preliminary financial and operating results for the quarter ended September 30, 2007. On November
9, 2007, TeleTech also held a conference call, which was open to the public, to discuss these
results. A copy of this press release is attached hereto as Exhibit 99.1 and hereby incorporated
by reference.
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| Item 4.02. |
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Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or
Completed Interim Review. |
(a)
On November 8, 2007, TeleTech issued a press release announcing that its Audit Committee has been
conducting a review of the Company’s accounting for
equity-based compensation practices. The review is
being conducted with the assistance of outside legal counsel and accounting experts and will
cover equity grants for the period from 1999 through 2007.
Based on
the work conducted to date, TeleTech presently believes that it will be required to incur
additional non-cash compensation expense for prior periods and that restatement of previous interim and
annual financial statements for the periods 1999 through 2007 is likely. Accordingly, TeleTech’s
management and the Audit Committee concluded on November 8, 2007 that TeleTech’s financial
statements for the periods 1999 through 2006 and the first and second quarters of 2007 and all
earnings and press releases and similar communications issued by the Company relating to all annual
and quarterly periods subsequent to December 31, 1998 should not be relied upon. Because
the review has not been concluded, the amount of additional non-cash
compensation expense and the resulting tax impact cannot be determined.
The Audit Committee and management have discussed the matters disclosed in this filing with
PriceWaterhouseCoopers LLP, the Company’s independent registered public accounting firm for 2007
who began with a review of the Company’s financial statements for the second quarter of 2007 and
Ernst & Young LLP, the Company’s independent registered public accounting firm from 2002 through
the first quarter of 2007.
The
Company’s press release on November 8, 2007 with respect to this matter, a copy of which is
attached as Exhibit 99.1 hereto, is incorporated herein by reference.
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| Item 9.01. |
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Financial Statements and Exhibits. |
(c) Exhibits
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| Exhibit No. |
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Description |
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99.1
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Press Release issued by TeleTech
Holdings, Inc., dated November 8, 2007. |