UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 10-K/A

(Amendment No. 1)

 

(Mark One)

 

x      ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2011

 

or

 

o       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from         to

 

Commission file number 1-12793

 

 

StarTek, Inc.

(Exact name of registrant as specified in its charter)

 

 

(303) 262-4500

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

Securities registered pursuant to Section 12(g) of the Act:  None

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes o  No x

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  Yes o  No x

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes x  No o

 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. o

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.  (Check one):

 

 

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes o  No x

 

As of February 15, 2012, 15,267,407 shares of common stock were outstanding. The aggregate market value of common stock held by non-affiliates of the registrant on June 30, 2011 was $38.3 million, based upon the closing price of the registrant’s common stock as quoted on the New York Stock Exchange composite tape on such date. Shares of common stock held by each executive officer and director and by certain persons who owned more than 5% of the outstanding common stock as of such date who likely are affiliates have been excluded, as such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes.

 

DOCUMENTS INCORPORATED BY REFERENCE

 

Part III incorporates certain information by reference from the registrant’s proxy statement to be delivered in connection with its 2012 annual meeting of stockholders.  With the exception of certain portions of the proxy statement specifically incorporated herein by reference, the proxy statement is not deemed to be filed as part of this Form 10-K.

 

 

 

EXPLANATORY NOTE

 

This Amendment No. 1 to the Annual Report on Form 10-K/A (“Amendment No. 1”) is filed for the sole purpose of correcting a typographical error in the Properties table included under Item 2 of Part I that appeared in the Annual Report on Form 10-K for the year ended December 31, 2011 that was filed by StarTek, Inc. with the Securities and Exchange Commission on March 9, 2012 (the “Original Filing”).  The reference in the Properties table to footnote (g) was inadvertently included at the end of the row for the 35,000 square foot property located in Greeley, Colorado when it should have been included at the end of the row for the 88,000 square foot property located in Greeley, Colorado.  This correction is reflected in the Properties table included in this Amendment No. 1.

 

Except as described above, no other changes have been made to the Original Filing, and this Amendment No. 1 does not otherwise amend, update or change the financial statements or disclosures in the Original Filing.

 

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Part I

 

ITEM 2.  PROPERTIES

 

As of December 31, 2011, we owned or leased the following facilities, containing in the aggregate approximately 1.1 million square feet:

 

Properties		Year Opened		Approximate Square Feet		Leased or Owned
U.S. Facilities
Greeley, Colorado		1998		35,000		Company Owned
Laramie, Wyoming		1998		22,000		Company Owned (c)
Grand Junction, Colorado		1999		46,350		Leased
Greeley, Colorado		1999		88,000		Company Owned (g)
Enid, Oklahoma		2000		47,500		Company Owned
Grand Junction, Colorado		2000		54,500		Leased (h)
Decatur, Illinois		2003		37,500		Leased
Lynchburg, Virginia		2004		38,600		Leased
Collinsville, Virginia		2004		49,250		Leased (f)
Denver, Colorado		2004		23,000		Leased (a)
Victoria, Texas		2008		54,100		Leased (d)
Mansfield, Ohio		2008		31,000		Leased
Jonesboro, Arkansas		2008		65,400		Leased
Canadian Facilities
Kingston, Ontario		2001		49,000		Company Owned
Cornwall, Ontario		2001		22,100		Leased
Regina, Saskatchewan		2003		62,000		Leased (b)
Thunder Bay, Ontario		2006		33,000		Leased (e)
Philippine Facilities
Makati City, Philippines		2008		78,000		Leased
Ortigas, Philippines		2010		159,000		Leased
Costa Rica Facility
Heredia, Costa Rica		2010		37,000		Leased
Honduras Facility
San Pedro Sula, Honduras		2011		39,100		Leased

 

(a)  Company headquarters, which houses executive and administrative employees.

 

(b)  Our Regina, Saskatchewan facility ceased operations in February 2009.

 

(c)  Our Laramie, Wyoming facility ceased operations in January 2010 and is listed as held for sale in our Consolidated Balance Sheets.

 

(d)  Our Victoria, Texas facility ceased operations in January 2010 and is currently being sublet through the remaining lease term.

 

(e)  Our Thunder Bay, Ontario facility ceased operations in March 2010 and is currently being sublet through the remaining lease term.

 

(f)  Our Collinsville, Virginia facility ceased operations in February 2012 and the lease expired in February 2012.

 

(g)  Our Greeley, Colorado facility ceased operations in December 2010 and is listed as held for sale in our Consolidated Balance Sheets.

 

(h)  Our Grand Junction, Colorado facility ramped down operations in December 2010.

 

Substantially all of our facility space can be used to support any of our business process outsourced services. We believe our existing facilities are adequate for our current operations. We intend to maintain efficient levels of excess capacity to enable us to readily provide for needs of new clients and increasing needs of existing clients.  We hold unencumbered, fee simple title to our company-owned facilities.

 

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SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Form 10-K/A to be signed on its behalf by the undersigned thereunto duly authorized.

 

STARTEK, INC.
(REGISTRANT)
By:	/s/ CHAD A. CARLSON		Date: May 31, 2012
	Chad A. Carlson
	President and Chief Executive Officer
	(Principal Executive Officer)
By:	/s/ LISA A. WEAVER		Date: May 31, 2012
	Lisa A. Weaver
	Senior Vice President, Chief
	Financial Officer and Treasurer
	(Principal Financial and Accounting Officer)

 

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STARTEK, INC.

INDEX OF EXHIBITS

 

Exhibit				Incorporated Herein by Reference
No.		Exhibit Description		Form		Exhibit		Filing Date
31.1*		Certification of Chad A. Carlson pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*		Certification of Lisa A. Weaver pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

*      Filed with this Form 10-K.

 

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