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QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2011
QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract] |
QUARTERLY FINANCIAL DATA (UNAUDITED) | (24) QUARTERLY FINANCIAL DATA (UNAUDITED) The following tables present certain quarterly financial data for the year ended December 31, 2011 (amounts in thousands except per share amounts).
|  |  |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Revenue | $ | 280,979 |  | $ | 293,636 |  | $ | 304,235 |  | $ | 300,538
Cost of services |  | 199,121 |  |  | 210,358 |  |  | 220,795 |  |  | 218,088
Selling, general and administrative |  | 47,801 |  |  | 47,283 |  |  | 43,445 |  |  | 50,273
Depreciation and amortization |  | 11,598 |  |  | 11,423 |  |  | 11,807 |  |  | 10,061
Restructuring charges, net |  | 739 |  |  | (57) |  |  | 1,616 |  |  | 1,353
Impairment losses |  | 230 |  |  | - |  |  | - |  |  | -
| Income from operations |  | 21,490 |  |  | 24,629 |  |  | 26,572 |  |  | 20,763
|  | Other income (expense) |  | (270) |  |  | (1,276) |  |  | (633) |  |  | 279
|  | (Provision) benefit for income taxes |  | (9,849) |  |  | (129) |  |  | 496 |  |  | (3,797)
|  | Non-controlling interest |  | (898) |  |  | (1,007) |  |  | (1,064) |  |  | (1,132)
|  |  | Net income attributable to TeleTech stockholders | $ | 10,473 |  | $ | 22,217 |  | $ | 25,371 |  | $ | 16,113
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |
| Basic |  | 57,190 |  |  | 56,713 |  |  | 56,476 |  |  | 56,309
| Diluted |  | 58,797 |  |  | 57,974 |  |  | 57,748 |  |  | 57,500
Net income per share attributable to TeleTech stockholders |  |  |  |  |  |  |  |  |
| Basic | $ | 0.18 |  | $ | 0.39 |  | $ | 0.45 |  | $ | 0.29
| Diluted | $ | 0.18 |  | $ | 0.38 |  | $ | 0.44 |  | $ | 0.28
Included in Cost of services and selling, general and administrative expenses in the third quarter is a $2.8 million reduction for variable incentive compensation. Included in the Provision for Income Taxes for the first and fourth quarter is an increase of $9.0 million and a decrease of $0.4 million respectively related to the adverse decision by the Canadian Revenue Agency (“CRA”) in regards to the Company's attempt to recover taxes paid to Canada with respect to the years 2001 and 2002. Also included in the Provision for income t axes in the first, second and third quarter is a reduction in expense related to the mediated settlement reached with the IRS concerning tax refund claims of $2.9 million, $5.7 million and $3.0 million respectively. Also included in the third quarter is a $1.4 million benefit related to the Company's 2010 foreign earnings repatriation. The following tables present certain quarterly financial data for the year ended December 31, 2010 (amounts in thousands except per share amounts).
|  |  |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Revenue | $ | 271,526 |  | $ | 271,927 |  | $ | 271,005 |  | $ | 280,448
Cost of services |  | 194,618 |  |  | 198,194 |  |  | 193,996 |  |  | 202,889
Selling, general and administrative |  | 43,408 |  |  | 39,741 |  |  | 40,572 |  |  | 42,091
Depreciation and amortization |  | 12,724 |  |  | 12,946 |  |  | 12,452 |  |  | 12,096
Restructuring charges, net |  | 1,469 |  |  | 1,304 |  |  | 3,579 |  |  | 7,124
Impairment losses |  | - |  |  | 679 |  |  | 327 |  |  | 952
| Income from operations |  | 19,307 |  |  | 19,063 |  |  | 20,079 |  |  | 15,296
|  | Other income (expense) |  | (211) |  |  | 332 |  |  | 7,295 |  |  | 808
|  | Provision for income taxes |  | (5,054) |  |  | (5,071) |  |  | (7,586) |  |  | (10,720)
|  | Non-controlling interest |  | (755) |  |  | (922) |  |  | (1,118) |  |  | (869)
|  |  | Net income attributable to TeleTech stockholders | $ | 13,287 |  | $ | 13,402 |  | $ | 18,670 |  | $ | 4,515
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |
| Basic |  | 61,877 |  |  | 61,117 |  |  | 59,808 |  |  | 58,690
| Diluted |  | 63,483 |  |  | 62,317 |  |  | 61,028 |  |  | 60,369
Net income per share attributable to TeleTech stockholders |  |  |  |  |  |  |  |  |
| Basic | $ | 0.21 |  | $ | 0.22 |  | $ | 0.31 |  | $ | 0.08
| Diluted | $ | 0.21 |  | $ | 0.22 |  | $ | 0.31 |  | $ | 0.07
Included in Revenue for the first quarter is a $2.0 million reduction for disputed service delivery issues which occurred in 2009. Included in Selling, general and administrative for the second and fourth quarters, respectively, is a decrease of $0.3 million and $1.1 million due to change in estimates relating to self-insurance liabilities. Included in Other income (expense) for the third quarter is a $5.9 million gain related to the settlement of a Newgen legal claim. Included in Provision for income taxes for the third quarter is a $2.3 million expense related to the gain described above. Included in the Provision for income taxes for the fourth quarter is a $5.6 million expense related repatriation of foreign earnings previously considered permanently invested outside the U.S., an increase of $2.5 million in the U.S. deferred tax liability related to foreign tax assets that can no longer offset taxable income in more than one jurisdiction, an increase of $6.6 million in the deferred tax valuation allowance of which $3.7 million is related to certain European markets, and a $2.3 million expense related to our legal settlement included in Other income (expense) and $0.7 million in other items, offset by a $4.0 million benefit related to foreign tax planning strategies associated with the International operations.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
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