Narayan AmmachchiSpanish call center operator Atento has reported a 70% increase in net income, largely due to the strong performance of the company’s units in the Americas, particularly Brazil.
“Net income was US$8.0 million in the third quarter of 2014, compared to $4.7 million for the same quarter of the previous year, an increase of 70.2 percent,” stated the BPO firm in a press release.
This is the first public announcement of quarterly results by the BPO provider after it listed in the New York Stock Exchange last month.
For the third quarter of 2014, revenue for the Brazil region was $307.7 million, an increase of 5% compared to the $293.0 million from the same quarter of the previous year. Overall, revenue for the Americas region increased more than 9%.
“Our performance in the Brazil region highlights the value proposition of Atento as a fully independent company,” Atento stated. The company added that its profits in the Americas region had helped it offset “the reduction in EMEA (Europe, the Middle East and Africa).”
Aside from Brazil, Atento also has delivery centers in Argentina, Peru, Chile, Colombia, El Salvador, Guatemala, Panama and Uruguay.
The company’s global revenue for the third quarter was $589.6 million, an increase of more than $9 million from the same quarter of last year.
For Atento, much of the income comes from the Spanish telecom giant Telefonica. In fact, Atento was founded as the customer service unit of Telefonica. Today, it is owned by the Boston, MA-based private equity firm Bain Capital Partners LLC.
Atento says that it has continued to “successfully diversify” its client base in the quarter, with non-Telefonica revenue accounting for 54% of total revenue.
According to the press release, its units in Mexico, Colombia, Chile and Peru are making good profits and winning many new clients. Customer care service dominates its offerings, although the company provides several other back-office services including CRM, recovery and sales.
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