DALLAS, Sept. 30 /PRNewswire-FirstCall/ -- SOURCECORP, Incorporated
(Nasdaq: SRCP), a leading provider of business process outsourcing solutions
and specialized high value consulting services, announced it has amended its
revolving credit facility. The $100 million facility, which contains a
provision permitting it to be increased to $150 million, has a maturity date
of September 29, 2008, subject to extension. The credit agreement is with
Bank of America, N.A. as administrative agent, SunTrust Bank, and JPMorgan
Chase Bank, N.A. The amended credit agreement reduces the facility size from
$237.5 million, and incorporates improved pricing, terms and conditions.
Mr. Ed H. Bowman, Jr., President and CEO, commented, "I'm pleased that
we've been able to structure a new credit facility that is economically more
attractive to SOURCECORP. With our strong cash flow and declining debt
levels, we believe this facility is adequate for our needs."
About SOURCECORP(R)
SOURCECORP, Incorporated provides business process outsourcing solutions
and specialized high value consulting services to clients throughout the
U.S. SOURCECORP focuses on business processes in information-intensive
industries including commercial, financial, government, healthcare, and legal.
Headquartered in Dallas, the Company serves clients throughout the United
States through a network of locations in the U.S., Mexico and India.
SOURCECORP is a component of both the S&P SmallCap 600 Index and the
Russell 2000 Index. The Company has been cited among the Top 100 Hot Growth
Companies by BusinessWeek magazine (2001). SOURCECORP has also been
recognized twice by Forbes magazine as one of the 200 Best Small Companies
(1998, 1999), based on return equity, sales growth, and EPS growth, and by
FORTUNE magazine as one of America's 100 Fastest Growing Public Companies
(1999). For more information about SOURCECORP's solutions, including case-
study examples, visit the SOURCECORP website at http://www.sourcecorp.com
The statements in this press release, which are not historical fact, are
forward-looking statements that involve risks and uncertainties, which could
cause actual results to differ materially from such forward-looking
statements. These forward-looking statements include, but are not limited to,
any financial estimates, projections, and estimates of future contract values
included in this press release. The aforementioned risks and uncertainties
include, without limitation, the risks of integrating our operating companies,
of the timing and magnitude of technological advances, of the occurrences of a
diminution in our existing customers' needs for our services, of a change in
the amount companies outsource business processes, of the impact to margins
resulting from a change in revenue mix as well as the risks detailed
in SOURCECORP's filings with the Securities and Exchange Commission, including
without limitation, those detailed under the heading "Risk Factors" in the
Company's most recent annual report on Form 10-K. SOURCECORP disclaims any
intention or obligation to revise any forward-looking statements, including
financial estimates, whether as a result of new information, future events, or
otherwise, except as required by law.
SOURCE SOURCECORP
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Related links:
http://www.sourcecorp.com
CONTACT:
Barry L. Edwards, Executive Vice President
and Chief Financial Officer of SOURCECORP, +1-214-740-6690, or
barryedwards@srcp.com
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