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Harte-Hanks, Inc. (NASDAQ: HHS) is a prominent global customer experience company dedicated to enhancing customer engagement through comprehensive CX strategy, data-driven analytics, and actionable insights. Headquartered in Chelmsford, Massachusetts, Harte Hanks operates with a workforce of over 2,500 employees across the Americas, Europe, and Asia Pacific. The company operates through three primary business segments: Marketing Services, Customer Care, and Fulfillment & Logistics Services.
Established over a century ago, Harte Hanks has consistently delivered results for clients worldwide by moving decision-makers beyond mere awareness to transactions and brand loyalty. The company’s notable clients include global brands such as Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, Ford, FedEx, Midea, Sony, and IBM.
In recent developments, Harte Hanks has demonstrated resilience and adaptability in a challenging economic environment. For the second quarter of 2023, the company reported revenues of $47.8 million, with the Customer Care segment experiencing growth that largely offset declines in other segments. However, a less favorable revenue mix led to a decrease in operating income to $1.7 million from $4.0 million in the same period of the previous year. Despite these challenges, Harte Hanks maintained a solid financial position with $13.4 million in cash and no outstanding debt as of June 30, 2023.
Kirk Davis, who became CEO in mid-2023, highlighted the importance of aligning the company’s cost structure and enhancing sales productivity. Key initiatives include a new partnership with a reputable business development company and the acquisition of InsideOut in December 2022, aimed at expanding lead generation capabilities. The company also executed its stock repurchase plan, buying back approximately 315,000 shares.
Recent leadership appointments, including Kelly Waller as Senior Vice President of Sales and Marketing and Ron Lee as Senior Vice President of Sales Services, underscore Harte Hanks’ commitment to revitalizing its growth strategy. The company’s transformative plan, dubbed “Elevate,” aims to enhance revenue growth, profitability, and operational efficiency. The plan includes collaborations with the Kearney consulting firm and a focus on leveraging data assets and technology to drive modern solutions for clients.
Financially, Harte Hanks reported a net income of $0.6 million for the second quarter of 2023, despite economic pressures and reduced client budgets. For the full year 2023, the company reported revenues of $191.5 million and ended the year with $18.4 million in cash. The extension of a $25 million credit line with Texas Capital Bank into 2025 further enhances Harte Hanks’ financial flexibility.
Harte Hanks continues to demonstrate a commitment to innovation and customer-centric solutions. As the company advances into its second century, it remains focused on driving sustainable, profitable growth through strategic sales initiatives, operational improvements, and a relentless commitment to customer satisfaction.
Harte Hanks (NASDAQ:HHS) has announced a collaboration with Reddy, an AI-powered contact center coaching and training platform. The partnership aims to enhance Harte Hanks' global call center operations through improved agent onboarding, automated training, and feedback systems.
Reddy's platform offers simulation training, copilot technology for real-time agent assistance, and call monitoring capabilities. Early implementation shows positive trends in agent and customer satisfaction rates. The collaboration focuses on using AI to enhance agent performance rather than replace human workers, targeting more personalized customer interactions and improved client results.
Harte Hanks reported Q3 2024 financial results with total revenues of $47.6 million, up 1.1% from Q3 2023. Operating income was $1.9 million, down from $2.9 million year-over-year. Net income was $0.1 million ($0.02 per share), compared to $0.6 million ($0.09 per share) in Q3 2023. The company expects low to mid-single-digit revenue contraction in Q4 due to program changes by some customers. Customer Care and Sales Services segments showed growth, while Fulfillment & Logistics and Marketing Services segments declined. The company ended Q3 with $5.9 million in cash and no outstanding debt.
Harte Hanks (NASDAQ:HHS) has scheduled its third quarter 2024 financial results release for November 14, 2024, after market close. The company will host a conference call and webcast at 4:30 p.m. EDT the same day to discuss the results. Investors can join via webcast or by dialing 888-506-0062 (US) or 973-528-0011 (international) using access code 687861. A replay will be available through November 28, 2024, accessible by dialing (877) 481-4010 (US) or (919) 882-2331 (international) with passcode 51436.
Harte Hanks (NASDAQ:HHS) has announced a leadership transition in its sales organization. Jason Chapman has been appointed as Interim Global Head of Sales and Marketing, replacing Kelly Waller, who is stepping down due to personal reasons. Chapman, with experience from companies like Bain & Company and SAP SE, brings expertise in driving business transformation and leading global go-to-market teams.
CEO Kirk Davis praised Waller's contributions, noting her role in reshaping the sales organization, fostering a customer-centric approach, and significantly growing the sales pipeline. Chapman expressed enthusiasm for building on these accomplishments and accelerating sustainable growth. The transition comes as Harte Hanks enters the final stretch of 2024 from a position of strength.
Harte Hanks (NASDAQ:HHS) has announced a collaboration with Outreach, a leading execution platform for intelligent revenue workflows. This partnership aims to deliver enhanced turnkey sales solutions by integrating their strengths in customer relationship management and end-user experiences. Harte Hanks will incorporate Outreach's platform into its Demand Generation in a Box product to improve client sales efforts.
The collaboration includes joint marketing initiatives and co-branded campaigns to reach a wider audience. Outreach's AI-powered platform, built on extensive sales data, helps revenue teams design, measure, and improve seller workflows. This partnership is expected to provide Harte Hanks with a competitive edge in delivering strategic expertise and cutting-edge technology for sales success.
Harte Hanks (NASDAQ:HHS) has appointed Sharona Sankar-King as its new Chief Customer and Data Officer. Sankar-King, joining from Bain & Company, brings extensive experience in customer engagement, marketing, and data analytics. She will be based in New York, reporting directly to CEO Kirk Davis.
Sankar-King's expertise includes leveraging data assets, expanding client relationships, and developing new solutions for growth. Her background spans consulting, customer success management, and advanced analytics across various industries. She has co-authored a Harvard Business Review article on Generative AI approaches and is recognized for helping companies implement AI strategies.
Prior to Bain, Sankar-King held leadership positions at BBDO, MEC (Wavemaker), Experian, and other prominent firms. She holds a Master of Applied Statistics from Columbia University and a Bachelor of Science in Psychology from Pennsylvania State University.
Harte Hanks (NASDAQ:HHS) reported Q2 2024 results, showing a 5.7% decrease in total revenues to $45.0 million compared to Q2 2023. The company ended the quarter with a cash balance of $11.0 million and no debt. Operating income was $1.4 million, down from $1.7 million in the same quarter last year. Harte Hanks recorded a net loss of $27.8 million, or $3.84 per share, primarily due to $38.2 million in pension termination charges.
Key highlights include the appointment of Sharona Sankar-King as Chief Customer and Data Officer, completion of sales transformation in April, and progress on cost-saving initiatives from Project Elevate. The company's Sales Services segment saw a 92.2% increase in revenue, while Customer Care and Marketing Services segments experienced declines.
Harte Hanks (NASDAQ:HHS), a global customer experience company, has announced it will release its second quarter 2024 financial results on August 8, 2024, after market close. The company will host a conference call and live webcast to discuss these results at 4:30 p.m. EDT on the same day. Interested parties can access the webcast online or join the conference call by dialing specific numbers for U.S. and international participants. A replay of the call will be available until August 22, 2024. This announcement provides investors and analysts with the opportunity to review Harte Hanks' financial performance and engage with company management.
Harte Hanks (NASDAQ:HHS), a global customer experience firm, announced it has finalized the termination of its Qualified Pension Plan I, effective August 2024. On June 18, 2024, the company signed formal commitment letters with Nationwide to provide pension benefits to its Plan I members. Harte Hanks made a one-time $6.1 million contribution and transferred $71.9 million of Plan I assets to Nationwide by June 24, 2024. This move will eliminate Harte Hanks' pension payment obligations from August 2024, improving cash flow and streamlining its balance sheet. David Garrison, CFO of Harte Hanks, emphasized the benefits of this partnership with Nationwide, highlighting their commitment to superior customer service.
Harte Hanks (NASDAQ:HHS), a century-old leader in customer experience solutions, has launched 'Demand Generation In a Box', a turnkey suite aimed at small and medium businesses. This all-in-one service combines data, sales, and marketing to generate high-quality leads and opportunities. The Essentials package starts at $10,000 and includes data, weekly reporting, campaign strategy, and digital prospecting. The offering is part of Harte Hanks' Elevate program to diversify products and expand its customer base. Demand Generation In a Box integrates seamlessly with existing processes and promises to launch campaigns within six weeks. The product will debut at the ENABLE360 event in London on June 25, 2024.
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