Direct marketing services agency Harte-Hanks posted a 4.6% year-over-year increase in revenue for the third quarter of 2006, but said earnings declined almost that much from the same quarter last year.
For Q3 2006, the San-Antonio-based firm reported net income of $27.6 million on sales of $294.7 million. For the same quarter in 2005, the company posted net income of $28.8 million on sales of $281 million.
Harte-Hanks CEO Richard Hochhauser said the quarterly results showed the impact of a stock-based compensation expense of $1.9 million in 2006. In a release, he pointed out that direct marketing revenue for the quarter was $174.1 million, up 3.1% from the same period last year, and that although operating income was down $1.1 million or 4.2%, that figure would have been flat without the stock-option expense.
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