Harte-Hanks, Inc. (NYSE: HHS) reported third quarter 2012 diluted earnings per share of $0.14 on revenues of $195.8 million. These results compare to diluted earnings per share of $0.19 on $212.8 million in revenues for the third quarter of 2011. Operating income was down to US$ 16,212 million or 21.7%.
For the three months ended September 30, 2012, the company generated free cash flow (defined below) of $11.3 million, a decrease from $12.8 million in the prior year’s third quarter. Capital expenditures for the quarter were $2.9 million compared to $5.0 million in the prior year’s third quarter.
Commenting on the third quarter performance, Chairman, President and Chief Executive Officer Larry Franklin said, “We have made enormous progress in restructuring our Direct Marketing business over the past three months. Many short-term actions affecting the way we will be organized have been announced and are being implemented and will be reflected in the 2013 plans we are currently developing. Some of the changes and initiatives will take longer to fully implement and our financial performance will not reflect the benefits from those changes for several quarters. Shoppers’ performance was disappointing, turning in its worst performance of the year. While declines were widespread, they were particularly pronounced in real estate.”
About Harte-Hanks(R): Harte-Hanks(R) is a worldwide direct and targeted marketing company that provides multichannel direct and digital marketing services and shopper advertising opportunities to a wide range of local, regional, national and international consumer and business-to-business marketers.
Source: Zecco Holdings