Harte-Hanks Income Plummets 48% in Quarter
Harte-Hanks Inc. posted net income of $14.3 million for the fourth quarter, a 48% decrease from net income of $27.5 million in the prior year.
The San Antonio company reported revenue of $269.6 million for the quarter ended Dec. 31, an 11% decrease from revenue of $303 million last year.
The firm posted direct marketing revenue of $188.9 million for the quarter, an 8.1% decrease from $205.5 million in the prior year.
In addition, the company reported =that shopper advertising revenue fell 17.2% in the fourth quarter, to $80.8 million.
“It is not surprising the fourth quarter was one of the most difficult periods our company has faced in recent times,” said Larry Franklin, in a statement. “The fourth-quarter financial market events dramatically influenced business and consumer confidence and resulted in an immediate impact on our Direct Marketing revenue.”
