**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)

 

| **Delaware**                               | ** ** | **84-1370538**      |
|--------------------------------------------|------------|---------------------|
| (State or other jurisdiction of            |       | (I.R.S. employer    |
| incorporation or organization)             |       | Identification No.) |
| ** **                                 | ** ** |                |
| **44 Cook Street, 4****th**** Floor** | ** ** |                |
| **Denver, Colorado**                       | * *   | **80206**           |
| (Address of principal executive offices)   |       | (Zip code)          |

 

**(303) 262-4500**

(Registrant’s telephone number, including area code)

 

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

 

| **Title of Each Class** | ** ** | **Name of Each Exchange on Which Registered** |
|----------------------------------------|------------|-----------------------------------------------------------------------------|
| Common Stock, $.01 par value           |       | New York Stock Exchange, Inc.                                          |

 

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):

 

| Large accelerated filer o                     |   | Accelerated filer o         |
|-----------------------------------------------|--------|-----------------------------|
|                                          |   |                        |
| Non-accelerated filer x                       |   | Smaller reporting company o |
| (Do not check if a smaller reporting company) |   |                        |

 

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.

 

2

----

 

**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.

 

3

----

 

**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) |   |

 

4

----

** **

**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.

 

5

----