QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2014

QUARTERLY FINANCIAL DATA (UNAUDITED) [ABSTRACT]

QUARTERLY FINANCIAL DATA (UNAUDITED)

(26)QUARTERLY FINANCIAL DATA (UNAUDITED)

The following tables present certain quarterly financial data for the year ended December 31, 2014 (inthousands except per share amounts).

				First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenue				$	302,221	$	295,490	$	305,900	$	338,170
Cost of services					213,787		212,315		220,244		240,146
Selling, general and administrative					50,367		47,802		49,847		50,537
Depreciation and amortization					13,170		14,089		13,893		15,386
Restructuring charges, net					540		617		593		1,600
Impairment losses					-		-		-		373
	Income from operations				24,357		20,667		21,323		30,128
		Other income (expense)			(178)		2,880		(856)		2,138
		Provision for income taxes			(2,876)		(5,417)		(5,778)		(8,971)
		Non-controlling interest			(1,085)		(1,268)		(1,442)		(1,329)
			Net income attributable to TeleTech stockholders	$	20,218	$	16,862	$	13,247	$	21,966
Weighted average shares outstanding
	Basic				50,045		49,351		49,093		48,714
	Diluted				50,973		50,111		49,940		49,514
Net income per share attributable to TeleTech stockholders
	Basic			$	0.40	$	0.34	$	0.27	$	0.45
	Diluted			$	0.40	$	0.34	$	0.27	$	0.44

Included in Other income (expense) in the second and the fourth quarters area $4.0 million benefit and a net $2.7 million benefit related to fair value adjustments to the contingent consideration related to revised estimates of the performance against the targets for four of the Company's acquisitions.

Included in the Provision for Income Taxes is a $0.2 million benefit in the first quarter, a $0.2 million benefit in the second quarter, a $0.2 million benefit in the third quarter and a $0.6 million benefit in the fourth quarter related to restructuring charges. Also included are a $0.6 million of benefit in the first quarter and $0.2 million of expense in the third quarter related to changes in valuation allowances. Additionally, in the second quarter there was $1.6 million of expense, $0.7 million of expense in the third quarter and $1.6 million of expense in the fourth quarter related to changes in the value of future contingent payments. Finally, there was $1.2 million of benefit in the first quarter related to the closing of a statute of limitations and $1.3 million of expense in the third quarter related to the Netherlands audit.

The following tables present certain quarterly financial data for the year ended December 31, 2013 (inthousands except per share amounts).

				First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenue				$	288,383	$	289,692	$	296,995	$	318,087
Cost of services					208,232		208,809		208,648		220,942
Selling, general and administrative					45,747		46,168		50,165		51,343
Depreciation and amortization					10,555		11,263		11,463		12,783
Restructuring charges, net					851		2,572		758		254
Impairment losses					-		1,205		-		-
	Income from operations				22,998		19,675		25,961		32,765
		Other income (expense)			(2,004)		(3,099)		(434)		(3,793)
		(Provision for) benefit from income taxes			(2,391)		(3,854)		(6,358)		(7,995)
		Non-controlling interest			(642)		(407)		(1,526)		(1,508)
			Net income attributable to TeleTech stockholders	$	17,961	$	12,315	$	17,643	$	19,469
Weighted average shares outstanding
	Basic				52,347		51,861		50,732		50,439
	Diluted				53,217		52,628		51,678		51,465
Net income per share attributable to TeleTech stockholders
	Basic			$	0.34	$	0.24	$	0.35	$	0.39
	Diluted			$	0.34	$	0.23	$	0.34	$	0.38

Included in Other income (expense) in the second quarter is a $3.7 million charge related to the deconsolidation of our subsidiary in Kuwait, and in the fourth quarter is a $1.9 million charge related to a fair value adjustment to the contingent consideration for three of the Company's acquisitions.

Included in the (Provision) benefit for Income Taxes is a $0.2 million benefit in the first quarter, a $1.2 million benefit in the second quarter, a $0.3 million benefit in the third quarter and a $0.1 million benefit in the fourth quarter related to restructuring charges. Also included are a $0.9 million of benefit in the first quarter, $0.3 million of expense in the second quarter, $0.4 million of expense in the third quarter and a $2.0 million of expense in the fourth quarter related to changes in valuation allowances. Additionally, there was a $0.6 million benefit in the first quarter, $0.5 million of benefit in the second quarter, $0.3 million of expense in the third quarter, and a $0.7 million of benefit in the fourth quarter related to return to provision adjustments.