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TELETECH'S PROFIT, SALES CONTINUE TO DECLINE

Teletech Holdings continues to see weak business conditions at its call centers, with sales falling 3.9 percent amid excess capacity, the Denver-based company said.

Teletech operates a call center in Niagara Falls with about 450 workers. It cut about 400 jobs in May after seeing a drop in work for Verizon.

Sales for the quarter fell $9 million to $222.8 million, as client programs wound down in the general economic downturn.

Profits were $6.2 million, down from $13.3 million a year ago.

Cancellation of Verizon work led to a $10.3 million payment. The phone company scratched plans for a customer service call center it had contracted for in 1998, Teletech said.

Earlier this month, Teletech sold $75 million of 7- and 10-year unsecured notes to pay down a revolving line of credit.

"We believe our ability to raise long-term debt in this constrained capital environment is a strong endorsement of our market position," Chief Financial Officer Margot O'Dell said in a statement.

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