Harte-Hanks Roughed Up in Second Quarter
Harte-Hanks Inc. generated $290.1 million during its second quarter, down from the $298.4 million it realized in second quarter 2006. The company’s net income plummeted from $30.2 million a year ago to $22.9 million during the quarter ended June 30.
“Our second quarter performance was poor,” said CEO Richard Hochhauser, in a statement.
Indeed, among its various segments direct marketing did comparatively well by mostly holding its own. This segment’s operating revenue rose ever-so-slightly from $173.8 million during second-quarter 2006 to $174.5 million. In contrast, revenue from shoppers fell from $124.6 million to $115.7 million.
Harte-Hanks reiterated plans to reduce its shopper circulation by 600,000 at the end of the quarter.
Among various verticals, Harte-Hanks saw double-digit revenue growth in high tech/telecom from second-quarter 2006’s revenue levels; single-digit growth from pharma healthcare; and flatness in its retail segment. Financial services had a double-digit drop, due in part to a contract termination.
