Wednesday, July 28, 2004

PeopleSupport Estimates Offering Price

Los Angeles-based PeopleSupport has estimated an offering price for its IPO between $10 and $12 a share, and said that it is offering 4,545,455 shares of stock, according to an S-1 filed yesterday. PeopleSupport provides offshore customer management outsourcing in the Phillipines, providing call centers based in that country to handle calls from the travel and hospitality, technology, retail, and other industries. According to the company, its biggest customers are Expedia, Network Solutions, and EarthLink, which acocunt for 88% of their 2003 revenue. The company has been approved to trade on the Nasdaq as PSPT. PeopleSupport had earnings of $7.9M on revenues of $30M in 2003.