CEO Commentary

Kathryn Marinello, Chairman and Chief Executive Officer of Stream, said, “We are pleased to report our fourth consecutive quarter of increased revenue and Adjusted EBITDA when compared to the same quarter in the prior year. We continue to see strong demand for our services as demonstrated by the 6% growth in year-over-year revenue for the quarter. As a result of our belief in continued customer demand for our services, this quarter we invested approximately $17 million to build out our facilities and enhance our infrastructure. Our efforts to improve our operational performance by optimizing our cost structure and motivating and rewarding our employees are again yielding results as this quarter we realized positive Income From Operations versus Losses from Operations in prior periods.”

Third Quarter 2011 Financial Highlights

• Revenue for the quarter ended September 30, 2011 was $208 million, an increase of $11 million, or 6%, from the same period last year. The growth in revenue was due to a combination of new clients won in 2010 and 2011, expansion with existing clients and approximately $5 million due to fluctuations in currency exchange rates. During the first nine months of 2011, Stream has signed an estimated $136 million, on an annualized basis once fully ramped, of revenue with both new and existing clients.
• Gross profit increased approximately $2 million, or 2%, over the prior year third quarter. The Gross Profit percentage was 41% for 2011 and 42% for 2010 as a result of incurring approximately $4 million more than the prior period in unpaid training costs related to the launch of new programs. We also incurred approximately $1 million for an agent bonus program in the third quarter 2011, which was not in effect the third quarter 2010.
• Income From Operations Excluding Severance, restructuring and other charges, net for the quarter ended September 30, 2011 was $3 million versus $1 million for the same period in 2010. The improvement reflects higher gross profit earned on the increased revenue and a relative decline in Selling, General and Administrative expenses from 33.5% of revenue for the third quarter 2010 to 31.8% of revenue for the third quarter of 2011. This improvement is largely the result of our profit improvement programs in 2011. For the first nine-months of 2011, Income (Loss) From Operations Excluding Severance, restructuring and other charges was income of $10 million, an increase of $17 million from the comparable loss of $7 million in the prior year period.
• Net loss was $10 million and $28 million for the three and nine months ended September 30, 2011 versus a net loss of $13 million and $45 million for the same periods in 2010.
• Cash flow from operating activities for the third quarter 2011 was $5 million, a decrease of $5 million from the prior year period largely due to severance payments of $4 million made in the quarter. Days Sales Outstanding improved from 78 days at September 30, 2010 to 69 days at September 30, 2011.
• Free Cash Flow (operating cash flow less additions to equipment and fixtures and new capital lease financing) for the third quarter was outflows of $12 million and for the nine months ended September 30, 2011 was inflows of $12 million. The third quarter’s Free Cash Flow reflects an increase in capital expenditures to expand capacity and payment of severance costs.
• Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) was $20 million for the third quarter of 2011, an increase of $1 million from the third quarter of 2010 ($19 million.) On a year-over-year constant currency basis, our Adjusted EBITDA would have been higher by approximately $1 million had there been no change in global currency rates.

Americas Region

Revenue generated from our Americas region, which includes the United States, Canada, the Philippines, India, Costa Rica, Nicaragua, the Dominican Republic, El Salvador and China, was $149 million and $449 million for the three and nine months ended September 30, 2011 ($146 million and $425 million for the same periods in the prior year, respectively).

Gross profit generated by the Americas region was $64 million and $196 million for the three and nine months ended September 30, 2011 ($63 million and $182 million for the same periods in prior year). The gross margin percentage for the three and nine months ended September 30, 2011 was 43% and 44% (43% for the both periods in the prior year).

EMEA Region

Revenue generated from our EMEA region, which includes Europe, the Middle East and Africa, for the three and nine months ended September 30, 2011 was $59 million and $178 million, respectively ($51 million and $152 million for the same periods in the prior year).

Gross profit generated by the EMEA region for the three and nine months ended September 30, 2011 was $21 million and $62 million, with a gross margin of 36% and 35%, respectively ($21 million and $58 million with a gross margin percentage of 40% and 38%, respectively, for the same periods in the prior year).

Selling, General and Administrative Expense

Selling, general and administrative expenses, which includes non-agent service center costs, was $66 million (31.8% of revenue) during the three months ended September 30, 2011 and $66 million (33.5% of revenue ) during the same period in 2010. This percentage decrease is a result of management focus on cost controls, including the impact of reductions in our workforce earlier in 2011.

Liquidity and Capital Resources

At September 30, 2011, cash and cash equivalents, excluding restricted cash, was $21 million, up from $18 million at December 31, 2010. The balance on the revolving line of credit was $28 million at September 30, 2011 versus $25 million at December 31, 2010. At September 30, 2011, the Company had in excess of $46 million of availability which could be drawn at any time under its revolving line of credit.

Stream will hold a conference call for investors on November 3, 2011 at 9:00 AM EDT. Investors can participate by calling 800-288-8961 or 612-332-0345 (for callers outside the US).

About Stream Global Services:

Stream Global Services is a leading global business process outsource (BPO) service provider specializing in customer relationship management services including sales, customer care and technical support for Fortune 1000 companies. Stream is a trusted partner to some of the world’s leading technology, computing, telecommunications, retail, entertainment/media, and financial services companies. Stream’s service programs are delivered through a set of standardized best practices and sophisticated technologies by a highly skilled multilingual workforce of over 30,000 employees capable of supporting over 35 languages across 50 locations in 23 countries. Stream strives to expand its global presence and service offerings to increase revenue, improve operational efficiencies and drive brand loyalty for its clients. To learn more about the company and its complete service offering, please visit www.stream.com.

Safe Harbor

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including forward-looking statements regarding our business expectations and objectives. These statements are neither promises nor guarantees, but involve risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including, without limitation, risks relating to the Company’s ability to maintain and win additional client business, continue to maintain its operating performance and margin expansion, continue to have sufficient capital to grow and maintain its business, retain the Company’s management team and effectively operate a global franchise across multiple jurisdictions plus other risks detailed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including those discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010.

Stream does not intend, and disclaims any obligation, to update any forward-looking information contained in this release, even if its estimates change.

The required reconciliations and other disclosures for all non-GAAP measures used by the Company are set forth in a schedule attached to this press release and in the Current Report on Form 8-K furnished to the SEC on the date hereof.

Non-GAAP Financial Information

This release contains non-GAAP financial measures. These non-GAAP financial measures, which are used as measures of Stream’s performance or liquidity, should be considered in addition to, not as a substitute for, measures of Stream’s financial performance or liquidity prepared in accordance with GAAP. Non-GAAP financial measures may be defined differently from time to time and may be defined differently than similar terms used by other companies, and accordingly, care should be exercised in understanding how Stream defines non-GAAP financial measures in this release.

Stream’s management uses the non-GAAP financial measures in the accompanying schedules to gain an understanding of Stream’s comparative operating performance (when comparing such results with previous periods) and future prospects and excludes certain items from its internal financial statements for purposes of its internal budgets and financial goals. These non-GAAP financial measures are used by Stream’s management in their financial and operating decision-making because management believes they reflect Stream’s ongoing business in a manner that allows meaningful period-to-period comparisons. Stream’s management believes that these non-GAAP financial measures provide useful information to investors and others in (a) understanding and evaluating Stream’s current operating performance and future prospects in the same manner as management does, if they so choose, and (b) in comparing in a consistent manner Stream’s current financial results with its past financial results.

All of the foregoing non-GAAP financial measures have limitations. Specifically, the non-GAAP financial measures that exclude certain items do not include all items of income and expense that affect Stream’s operations. Further, these non-GAAP financial measures are not prepared in accordance with GAAP, may not be comparable to non-GAAP financial measures used by other companies and do not reflect any benefit that such items may confer on Stream. Management compensates for these limitations by also considering Stream’s financial results in accordance with GAAP.

To conform with industry practice, Stream is presenting realized gains (losses) on foreign exchange cash flow hedges as a component of the hedged item, Direct Costs. The prior year results reflect this reclassification as follows.

Contacts

The notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The notes are being offered only to qualified institutional buyers under Rule 144A and outside the United States in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer or sale would be unlawful.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, including, but not limited to, statements regarding the planned offering by the Company of senior secured notes due 2014. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties related to the market conditions, execution of the Company’s planned offering of the senior secured notes due 2015 and other risks and uncertainties as set forth under the caption “Risk Factors” in the Company’s most recent annual or quarterly report filed with the SEC, which factors are incorporated herein by reference. Stream wishes to caution the reader that these factors are among the factors that could cause actual results to differ materially from the expectations described in the forward-looking statements. Stream also cautions the reader that undue reliance should not be placed on any of the forward-looking statements, which speak only as of the date of this release. The company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this release or to reflect actual outcomes.

    MEDIA CONTACT:
    Sally W. Comollo
    Stream Global Services
    Sally.comollo@stream.com
    +1 781-304-1847

SOURCE Stream Global Services, Inc.

http://www.stream.com

Stream global services just recently joined work operations with the multi national company Etelecare global solutions.

http://www.miskovic.net/gallery/v/Belgrade/

, a evo i jedne odabrane:

Pošto se u narednom periodu dešavalo mnogo stvari a da bi ih sada redom opisivao trebalo bi mi jako puno vremena kog nemam jednostavno ćemo zaboraviti poslednjih 12 meseci.

Uskoro novi članci (tekstovi) i druge gluposti koje ljudi stavljaju obično i neobično na svoje blogove.

Autor: Aleksandar Genis

SVAKI SE RAZUMNI STVOR DOSAĐUJE - PUŠKIN
Nemoguće ih je ne primetiti, teško ih je izbeći, ne mogu se zaboraviti. Ne opažajući jedno drugo, s obnevidelim očima, u sablasnom, nečujnom duetu, kruže trgovima i ulicama planete, samotno se njišući. Tajni ritam diktira im oko vrata obavijena srebrnkasta amajlija, razmetljivog imena aj-Pod.
- Kada je Sony - piše u svojim memoarima osnivač kompanije Akio Morita - lansirao prve plejere, uz njih su išla i dva para slušalica.
“Muzika za dvoje” smatrana je romantičnim izumom, kao tango ili baldahin. Revolucija je počela kada je jedan par slušalica postao suvišan. Mašinica koja peva postaje besprekorna zamena za ljubav i prijateljstvo, usput rešivši i problem usamljenosti. Pobeda tehnologije krunisana je ekspanzijom prenosivosti. Sada nas dokolica nikada ne napušta: telefon je postao mobilni, kompjuter - džepni, bioskop - prenosivi, muzika - sveprisutna, baš kao vazduh. Biće da smo strašno nepoverljivi prema svojoj duši, kada se plašimo da je ostavimo samu.
Odavno pobedivši dosadu u četiri zida, progres ju je dokrajčio u pleneru. Odista, gde sada da se dosađujemo? Na nebu? U zemlji? U metrou? Možda još samo pod vodom. Ali, i u tuš nam se uselio vodootporni prijemnik, pa nam emituje vesti dok se sapunamo.
Šta je u tome loše? I zašto je dosada dobra?
Povedeni za realnom televizijom, britanski producenti su jednu londonsku porodicu uselili na tri meseca u viktorijansku kuću, opremljenu po poslednjoj reči nauke i tehnike iz 1900. godine. Nesrećne dobrovoljce je, daleko više od loženja vatre i ručnog pranja, mučila strašna dosada. Pre svega jednog veka živeli smo još u stanju aktiva, sami sebi pribavljajući zabavu, kao divljač u lovu. Ne mogavši da se zadovolje dokolicom domaće izrade (razgovor, recitovanje i muziciranje), naši savremenici su pobegli u sadašnjost - nisu izdržali susret sa dosadnom prošlošću.
Razumem ih, pogotovo kad se setim svog ranog detinjstva, koje se poklapalo sa viktorijanskim periodom sovjetske vlasti. Najdosadnije mi je bilo pre polaska u školu, a posle je postalo strašno.

REKLO BI SE DA JEDNO ISKLJUČUJE DRUGO:

- Kad si gladan - poverio mi se jedan njujorški beskućnik - već nije dosadno.
U mladosti sam se, ipak, najviše bojao dosade. Pogotovo kad bih stao u red za predavanje praznih flaša. Bojažljivog li očekivanja praznika, koji je u svakom trenutku mogla da prekine tabla: “Nema kaucije”.
- I ne treba! - viknuli bismo danas.
- Ali ne juče! - odbrusiće vam sedi veteran čekanja u redovima.
OK. Zaboravljeno je, oprošteno, prevaziđeno. Zataškano, kako su tada govorili, da ipak malo pojasne. Druga je stvar, što sad više ne mogu da razumem zašto sam ih se, tih redova, toliko plašio? Uprtog pogleda u leđa ispred nas, kao u neki zid, dobijali smo besplatnu lekciju meditacije. Omogućivši nam da se krećemo stojeći u mestu, red nas je blago, kao Buda, uveravao da se ono odista važno dostiže ili svugde ili nigde.
Još nesvestan toga, osim zembilja svuda sam nosio tadašnji IPOD - knjižicu, koja staje u džep. (Uzgred budi rečeno, ekonomisanje prostorom me je i dovelo do poezije - od nje je dovoljno sasvim malo a dugo traje.) Ipak, čitati tamo gde stigneš isto je kao jesti šta bilo: puke kalorije, nepodesne i za um i za telo.
Da uvažavam dosadu naučio sam tek onda, kada sam se uverio da i rad i dokolica predstavljaju neurozu. A dosada, treća hipostaza duha, predstavlja predohranu psihičkog zdravlja. Čovek koji se dosađuje više vidi, čuje i razume. Dosada stimuliše sećanje, podstiče emocije, napreže živce. Na umetnika deluje razbuđujuće, poput elektrošoka.
Ali da bi neko upoznao dosadu, mora izbegavati iskušenja, najbolje - koristeći noge. Zaboravivši na telefon i očistivši se od ostale elektronske prlježi, volim da skitam šumom - sve dok mi ne dosadi. Tada dolazi ono najzanimljivije. Za autora je dosada - predstvaralačko raspoloženje, jednako uzbudljivo kao i ono predinfarktno.
Poput svake praznine, dosada je izazov svemiru, koji žuri da ispuni brešu koju je ona napravila. Kad nemamo šta da radimo, uranjamo u čistilište svesti, u kome se sami od sebe, kao miševi od vlage, rađaju misli i likovi. Tražeći izlaz, oni nas draže i podbadaju, dok se mi opiremo, koliko nam to lenjost dopušta. Pisati treba samo onda kada se više nema kud od dosade. U tome je njena blagodat: ona sebe prinosi kao žrtvu nadahnuću.
… Šopenhauer je govorio da životinje ne poznaju dosadu, Brodski je dosadu smatrao neizbežnom, Niče je u njoj video izvor filozofije, a ja mislim da je kasno za zabrinutost.
Šteta, jer dosada je aristokratska, treba je zaslužiti od prirode, kao govor ili uspravni hod. Odvikavši se od upotrebe ovog preimućstva, vraćamo se na prethodni - proleterski - stupanj evolucije. Umesto dosade, on nam nudi iluziju potpune zaposlenosti.
Kako reče jedan pametni cinik, primorani smo da ubijemo slobodno vreme, da ono ne bi ubilo nas.
Njujork, april 2006

Vise o Vasil Hadzimanov Band-u na :

http://www.vhband.com

Njen poslednji album EXODUS prodat je u preko 1 000 000 primeraka a najnoviji album se očekuje početkom 2006. godine.

Njen sledeći singl sakaranbo izdat decembra 2003. godine bio je na 12. mestu najbolje prodavanih singlova u 2004. Singl je najbolju poziciju imao kada je ušao u prvih 5 Top singlova i kao takav je ostao na listi čak 82 nedelje.
Marta 2004. godine izašao je njen prvi album - LOVE PUNCH, i odmah je zauzeo 3. mesto na Oricon top listi. Samo u prvoj nedelji prodat je u 320 000 kopija.

Ai je nastavila sa izdavanjem singlova a novembra 2004. godine izašao je novi album LOVE JAM
koji je nastavio uspešno kotiranje prethodnog albuma.
LOVE COOK njen poslednji album, izašao je 14.12.2005. i već u prvoj nedelji prodat je u 335 000 kopija.

Poslednji singl koji je izdala, Planetarium, 20.09.2005. zauzima glavno mesto u akcionoj drami Hana Yori Dango.

Obavezno poslušajte jednu od sledećih pesama sa novog albuma LOVE COOK.

Cherish
Birthday song
Smily