UPDATE 1-TeleTech Q4 EPS trails Street by a cent

* Q4 shr $0.31 vs est $0.32

* Q4 revenue $280.8 mln vs est $280.7 mln

* Expects sequential rev growth from Q2 of 2010

* Says comfortable with Wall Street's 2010 rev estimate

Feb 22 (Reuters) - Call-center operator TeleTech Holdings Inc's (TTEC.O) fourth-quarter earnings missed market expectations by a cent, partly due to lower volumes as its clients faced reduced demand for their products and services.

The company, however, expects sequential revenue growth starting from the second quarter of 2010. It is comfortable with the consensus numbers for 2010 revenue and operating margin expectation.

Analysts are expecting 2010 revenue of $1.16 billion.

While volumes across much of TeleTech's base business are continuing to stabilize, there are still certain clients who continue to experience softness in their business, the company said.

Net income attributable to TeleTech shareholders for the fourth quarter was $20 million, or 31 cents a share, compared with $14.1 million, or 22 cents a share, a year ago.

Revenue fell over 13 percent to $280.8 million.

Analysts were expecting the company to earn 32 cents a share, on revenue of $280.6 million, according to Thomson Reuters I/B/E/S.

In a separate statement, the company said its board increased the funding available for share repurchases by $25 million to about $51 million.

TeleTech shares closed at $19.34 Monday on Nasdaq. (Reporting by Deepti Govind in Bangalore; Editing by Ratul Ray Chaudhuri)