Sitel Corp. Continues to Wiggle

Aug.10.06 | About: SITEL Corp. (SWW)

Sitel Corporation (SWW) issues new financial statements and attempts to provide information. But the press release is also full of legalese and obfuscation about how they have to wait on the SEC and the IRS for rulings on this and that. This gives the Board wiggle room but they do want you to drink their Cool-Aid.

The press release leads with strong positive statements about recent financials and then slides into comments about how they think it’s all fixed. They do comment that they feel that the board is in the clear.

Is the investor OK? The numbers that they have released are still subject to review by management and the Board. Just a little too much wiggle room for my taste.

SWW 1-yr chart:

SWW 1-yr chart