APAC Customer Services Reports Q4 EPS of $0.12 vs. $0.11

APAC Customer Services, Inc. APAC today reported financial results for its fourth fiscal quarter. Revenue for the 13-week 2010 fourth quarter rose 1.1% to $86.4 million from $85.5 million in the 14-week 2009 fourth quarter. Gross profit for the 2010 fourth quarter was $16.8 million, or 19.4%, compared to $17.2 million, or 20.1%, in the prior-year period. The Company reported net income of $6.3 million, or $0.12 per diluted share, compared to net income of $33.1 million, or $0.61 per diluted share, in the prior-year quarter. Results for the 2009 quarter included $23.8 million in income tax benefits due to the reversal of the valuation allowance that had been recorded against the company's deferred tax assets. Fourth-quarter 2010 adjusted EBITDA was $11.7 million compared to $12.5 million in the 2009 fourth quarter.