ICT GROUP Signs 5-Year Customer Service Contract with PETRO; To Provide Customer and Product Support Services for Home Heating Oil Consumers
(EMAILWIRE.COM, May 21, 2003 ) NEWTOWN, Pa.-- ICT GROUP, INC. (NASDAQ: ICTG), a leading global provider of customer relationship management (CRM) solutions, announced today that it has signed a
5-year contract with PETRO, the largest home heating oil company in the U.S. and subsidiary of Star-Gas Partners, L.P. (NYSE: SGU and SGH).
The contract is expected to generate approximately $15-$20 million, over the course of a 5-year period.
According to Angelo Catania, President of PETRO, "Part of our ongoing Business Process Redesign Improvement Program, we expect this arrangement to allow us to focus on our own core competencies while continuing to strengthen our unique position in the highly fragmented heating oil industry. Additionally, leveraging ICT GROUP's nearly 20
years' customer care expertise and use of the latest CRM technologies available, this outsourced solution enables us to deliver the highest level of service and customer sensitivity possible while further reducing our costs and improving our overall operating efficiency."
Under the terms of the agreement, a dedicated group of up to 140 customer service representatives (CSRs) will be handling a variety of billing, service, sales/conversion and delivery inquiries, working together with PETRO's in-house contact center staff for more complex, customer-sensitive calls, when necessary.
ICT GROUP will also be providing business process consulting services for PETRO's in-house operation, helping to streamline existing call handling processes and enhance service performance and efficiency.
"We are pleased that PETRO has chosen us as their customer support services provider," said John J. Brennan, Chairman and Chief Executive Officer of ICT GROUP. "This agreement further bolsters our CRM services business and is consistent with the projected increased demand we have seen from clients looking to reduce costs and improve
overall service by using a global provider of outsourced customer care services."
ICT GROUP's use of the latest CRM technologies as well as its scalable service offering and flexible staffing models will allow PETRO to more efficiently respond to the seasonal call volume fluctuations and other unanticipated peaks in consumer demand
experienced in the home heating oil business.
Additionally, ICT GROUP will be implementing an automated interactive voice response (IVR) solution as part of this program, to help further streamline the call handling process while at the same time providing PETRO customers with more immediate, self-help options for their heating oil service, delivery and support needs.
ABOUT PETRO:
PETRO is a subsidiary of Star Gas Partners, L.P., (NYSE: SGU and SGH), a leading distributor of home heating oil, propane and deregulated natural gas and electricity. The Partnership is the nation's largest retail distributor of home heating oil and the
nation's seventh largest retail propane distributor.
Star, through its wholly owned subsidiary Total Gas & Electric, also sells natural gas and electricity in the Northeast, Mid-Atlantic and Florida.
ABOUT ICT GROUP:
ICT GROUP, headquartered in Newtown, Pa., is a leading global provider of integrated customer relationship management (CRM) solutions. The Company helps clients identify, acquire, retain, service, measure and maximize the lifetime value of their customer relationships.
The Company manages CRM service operations in the U.S., Europe, Canada, Australia, Mexico, the Caribbean and the Philippines from which it supports domestic and multinational corporations and institutions, primarily in the financial, insurance, telecommunications, healthcare, information technology, media and energy services industries.
ICT GROUP also offers a full suite of hosted CRM solutions, for use by clients at their own in-house facility or on a co-sourced basis in conjunction with ICT GROUP's fully compatible Web-enabled customer service operations. To learn more about ICT GROUP, visit the Company's website at www.ictgroup.com.
IMPORTANT CAUTIONARY INFORMATION REGARDING FORWARD-LOOKING STATEMENTS:
This press release contains certain forward-looking statements, such as the amount of revenue expected to be generated from the PETRO contract over a 5-year period and the potential number of service representatives expected to service the PETRO contract. The
forward-looking statements involve assumptions and are subject to substantial risks and uncertainties.
Whenever possible, forward-looking statements are preceded by, followed by or include the words "believes," "expects," "anticipates" or similar expressions, which speak only as of the date the statement is made. ICT GROUP assumes no obligation to update any such
forward-looking statements.
For such statements, ICT GROUP claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
Actual events or results of operations, cash flows and financial condition of ICT GROUP may differ materially from those discussed in the forward-looking statements as a result of various factors, including without limitation, those discussed in ICT GROUP's annual
report on Form 10-K for the year ended December 31, 2002, and other documents, such as reports on Form 8-K and other reports on Form 10-Q filed by ICT GROUP with the Securities and Exchange Commission.
Although ICT GROUP believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Important factors that could cause actual results to differ materially from ICT GROUP's expectations, or that could materially and adversely affect ICT GROUP's financial condition, may include, but are not limited to the following, many of which are outside ICT GROUP's control: demand for ICT GROUP's services, the cost to defend or settle
litigation against ICT GROUP, judgments, orders, rulings and other developments in litigation against ICT GROUP, unanticipated labor difficulties, ICT GROUP's capital and financing needs, ICT GROUP's ability to integrate acquired businesses, customer demand for a client's product, the client's budgets and plans, interest rates and other conditions affecting the client's industry, unanticipated contract or technical difficulties, identifying and opening planned contact centers within timeframes necessary to meet client demands,
reliance on strategic partners, industry and government regulation, reliance on telecommunications and computer technology, general and local economic conditions, and competitive pressures in ICT GROUP's industry.
These factors, as well as others, such as conditions in the securities markets and actual or perceived results or developments affecting companies in our industry, could affect the trading price of our common stock.
CONTACT: ICT GROUP, INC., Newtown
Media Contact:
Berns Communications Group, LLC
Michael McMullan, 212/994-4660
mmcmullan@bcg-pr.com
or
Investor Contact:
Brod Group
Betsy Brod, 212/750-5800
bbrod@brodgroup.com
or
Jonathan Schaffer, 212/750-5800
jschaffer@brodgroup.com
or
PETRO
Media Contact:
Jaffoni & Colins, Inc.
Robert Rinderman, 212/835-8500
SGU@jcir.com
5-year contract with PETRO, the largest home heating oil company in the U.S. and subsidiary of Star-Gas Partners, L.P. (NYSE: SGU and SGH).
The contract is expected to generate approximately $15-$20 million, over the course of a 5-year period.
According to Angelo Catania, President of PETRO, "Part of our ongoing Business Process Redesign Improvement Program, we expect this arrangement to allow us to focus on our own core competencies while continuing to strengthen our unique position in the highly fragmented heating oil industry. Additionally, leveraging ICT GROUP's nearly 20
years' customer care expertise and use of the latest CRM technologies available, this outsourced solution enables us to deliver the highest level of service and customer sensitivity possible while further reducing our costs and improving our overall operating efficiency."
Under the terms of the agreement, a dedicated group of up to 140 customer service representatives (CSRs) will be handling a variety of billing, service, sales/conversion and delivery inquiries, working together with PETRO's in-house contact center staff for more complex, customer-sensitive calls, when necessary.
ICT GROUP will also be providing business process consulting services for PETRO's in-house operation, helping to streamline existing call handling processes and enhance service performance and efficiency.
"We are pleased that PETRO has chosen us as their customer support services provider," said John J. Brennan, Chairman and Chief Executive Officer of ICT GROUP. "This agreement further bolsters our CRM services business and is consistent with the projected increased demand we have seen from clients looking to reduce costs and improve
overall service by using a global provider of outsourced customer care services."
ICT GROUP's use of the latest CRM technologies as well as its scalable service offering and flexible staffing models will allow PETRO to more efficiently respond to the seasonal call volume fluctuations and other unanticipated peaks in consumer demand
experienced in the home heating oil business.
Additionally, ICT GROUP will be implementing an automated interactive voice response (IVR) solution as part of this program, to help further streamline the call handling process while at the same time providing PETRO customers with more immediate, self-help options for their heating oil service, delivery and support needs.
ABOUT PETRO:
PETRO is a subsidiary of Star Gas Partners, L.P., (NYSE: SGU and SGH), a leading distributor of home heating oil, propane and deregulated natural gas and electricity. The Partnership is the nation's largest retail distributor of home heating oil and the
nation's seventh largest retail propane distributor.
Star, through its wholly owned subsidiary Total Gas & Electric, also sells natural gas and electricity in the Northeast, Mid-Atlantic and Florida.
ABOUT ICT GROUP:
ICT GROUP, headquartered in Newtown, Pa., is a leading global provider of integrated customer relationship management (CRM) solutions. The Company helps clients identify, acquire, retain, service, measure and maximize the lifetime value of their customer relationships.
The Company manages CRM service operations in the U.S., Europe, Canada, Australia, Mexico, the Caribbean and the Philippines from which it supports domestic and multinational corporations and institutions, primarily in the financial, insurance, telecommunications, healthcare, information technology, media and energy services industries.
ICT GROUP also offers a full suite of hosted CRM solutions, for use by clients at their own in-house facility or on a co-sourced basis in conjunction with ICT GROUP's fully compatible Web-enabled customer service operations. To learn more about ICT GROUP, visit the Company's website at www.ictgroup.com.
IMPORTANT CAUTIONARY INFORMATION REGARDING FORWARD-LOOKING STATEMENTS:
This press release contains certain forward-looking statements, such as the amount of revenue expected to be generated from the PETRO contract over a 5-year period and the potential number of service representatives expected to service the PETRO contract. The
forward-looking statements involve assumptions and are subject to substantial risks and uncertainties.
Whenever possible, forward-looking statements are preceded by, followed by or include the words "believes," "expects," "anticipates" or similar expressions, which speak only as of the date the statement is made. ICT GROUP assumes no obligation to update any such
forward-looking statements.
For such statements, ICT GROUP claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
Actual events or results of operations, cash flows and financial condition of ICT GROUP may differ materially from those discussed in the forward-looking statements as a result of various factors, including without limitation, those discussed in ICT GROUP's annual
report on Form 10-K for the year ended December 31, 2002, and other documents, such as reports on Form 8-K and other reports on Form 10-Q filed by ICT GROUP with the Securities and Exchange Commission.
Although ICT GROUP believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Important factors that could cause actual results to differ materially from ICT GROUP's expectations, or that could materially and adversely affect ICT GROUP's financial condition, may include, but are not limited to the following, many of which are outside ICT GROUP's control: demand for ICT GROUP's services, the cost to defend or settle
litigation against ICT GROUP, judgments, orders, rulings and other developments in litigation against ICT GROUP, unanticipated labor difficulties, ICT GROUP's capital and financing needs, ICT GROUP's ability to integrate acquired businesses, customer demand for a client's product, the client's budgets and plans, interest rates and other conditions affecting the client's industry, unanticipated contract or technical difficulties, identifying and opening planned contact centers within timeframes necessary to meet client demands,
reliance on strategic partners, industry and government regulation, reliance on telecommunications and computer technology, general and local economic conditions, and competitive pressures in ICT GROUP's industry.
These factors, as well as others, such as conditions in the securities markets and actual or perceived results or developments affecting companies in our industry, could affect the trading price of our common stock.
CONTACT: ICT GROUP, INC., Newtown
Media Contact:
Berns Communications Group, LLC
Michael McMullan, 212/994-4660
mmcmullan@bcg-pr.com
or
Investor Contact:
Brod Group
Betsy Brod, 212/750-5800
bbrod@brodgroup.com
or
Jonathan Schaffer, 212/750-5800
jschaffer@brodgroup.com
or
PETRO
Media Contact:
Jaffoni & Colins, Inc.
Robert Rinderman, 212/835-8500
SGU@jcir.com
Contact Information:
ICT GROUP, Inc.
Joseph Nchor
Tel:
Email us
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ICT GROUP, Inc.
Joseph Nchor
Tel:
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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