Harte-Hanks Inc. has reported a first quarter revenue drop of more than 7% as a result of a decline in direct marketing.
Revenues were $214.9 million, down from $232.1 million one year ago. Net income fell to $20.3 million from $21.3 million last year.
“The accelerating revenue decline in direct marketing throughout 2001 will make the earnings comparisons in the first half of 2002 relatively more difficult than in the second half of the year,” CEO Richard Hochhauser said in a statement. “While we have seen some flattening of the revenue declines and will be facing easier revenue comparisons as we go through the year, we are not yet seeing noticeable increased spending by our direct marketing clients.
Harte-Hanks is based in New York.
