SmarTalk(SM) TeleServices, Inc. (Nasdaq: SMTK) announced today that it is in the process of phasing out its 30-minute prepaid calling card product in all Office Depot stores nationwide and replacing it with a special 60-minute package. At the same time, the Company has introduced a new 240-minute card at selected Office Depot stores and will soon make it available to all SmarTalk retailers. The Company also plans on launching an upscale 500-minute Executive Voice/FAX Mailbox Calling Card in June. The Company believes that the higher-value cards should result in an increase in usage and revenue.
“The new higher-value cards are in response to demonstrated consumer interest in larger-minute denominations,” stated SmarTalk Chairman and CEO, Robert H. Lorsch. “In fact, when customers add more minutes to their card by recharging, the lowest number of minutes now offered is 100, and we’ve seen increasing demand for even higher, 500-minute recharges.”
SmarTalk manufactures and distributes prepaid long-distance calling cards in addition to other telecommunications products and services sold at retail. In addition to Office Depot, the Company currently maintains distribution agreements with retailers representing nearly 9,000 storefronts, including The Good Guys, Staples, Service Merchandise, Best Buy, Jewel/Osco Combo Stores, Osco Drug, Sav-On Drug, OfficeMax, Bradlees, Marshall Field’s, Robinsons-May, Builders Square and Venture Stores, among others. Based in Los Angeles, SmarTalk is a member of the Telecommunications Resellers Association and the Consumer Electronics Marketing Association.