-- Decreasing the leased space at its headquarters facility
-- Eliminating a number of administrative positions
-- Reducing Service Line overhead
These cost reduction actions are expected to reduce costs by approximately
$600 thousand in the fourth quarter as compared to the third quarter, and
approximately $3.0 million on an annual basis. eLoyalty will use the cash
generated by these cost reductions to improve its financial performance and
to hire additional Behavioral Analytics™ business development resources.
About eLoyalty
eLoyalty helps its customers achieve breakthrough results with
revolutionary analytics and advanced technologies that drive continuous
business improvement. With a long track record of delivering proven
solutions for many of the Fortune 1000, eLoyalty's offerings include the
Behavioral Analytics™ Service, Integrated Contact Solutions and
Consulting Services, each of which enables focused business transformation.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including
statements regarding anticipated financial results and other matters that
are not strictly historical in nature. These forward-looking statements
are based on current management expectations, forecasts and assumptions,
and are subject to risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by the forward-looking
statements. The risks, uncertainties and other factors that might cause
such a difference include those described under "Forward-Looking
Statements" and "Risk Factors" in eLoyalty's Form 10-K, Form 10-Q and other
filings with the U.S. Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on forward-looking statements. They
reflect opinions, assumptions and estimates only as of the date they are
made, and eLoyalty Corporation undertakes no obligation to publicly update
or revise any of these forward-looking statements, whether as a result of
new information, future events or circumstances or otherwise.
Contact Information: Contact: eLoyalty Corporation Chris Min Vice President and Chief Financial Officer (847) 582-7222