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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 finalized its agreement with Wipro, LLC to repurchase all outstanding Series A Convertible Preferred Shares. The total cash payment for the repurchase amounted to $9,926,000, alongside the issuance of 100,000 shares of Harte Hanks common stock. This transaction, which was completed on December 2, 2022, eliminates the dilutive impact of the Preferred Shares and removes restrictions on capital usage. CEO Brian Linscott emphasizes that this move reinforces the company's commitment to enhancing shareholder value.
Harte Hanks Inc. (NASDAQ:HHS) has successfully acquired InsideOut Solutions, LLC for $7.5 million in cash and stock. This acquisition positions Harte Hanks to enhance its sales optimization capabilities, enabling it to provide improved demand generation programs. The deal adds 136 employees and a new office in Florida, expanding its North American presence. CEO Brian Linscott highlighted that this acquisition is expected to yield short-term revenue growth and project a 3-4x EBITDA valuation due to anticipated cost synergies.
Harte Hanks (NASDAQ:HHS), a global leader in customer experience, announced its CEO, Brian Linscott, will present at the 11th Annual Discovery One-on-One Investor Conference on December 1, 2022, in New York City. The company also plans to hold one-on-one meetings with investors throughout the event. Interested parties can register for the conference and schedule meetings via the provided online link. Harte Hanks is dedicated to delivering CX strategy, analytics, and program execution, boasting partnerships with major brands like Bank of America and Ford.
Harte Hanks, Inc. (NASDAQ:HHS) reported third quarter 2022 financial results, revealing an 8.7% revenue increase to $53.9 million from $49.6 million the previous year. Despite an operating income decline of 10.7% to $3.8 million, net income rose to $7.2 million, bolstered by $2.5 million from selling unused IP addresses. Fulfillment & Logistics Services saw a significant growth of 55.6%, while Marketing Services and Customer Care revenues fell by 11.6% and 12.1%, respectively. The company aims for continued growth and profitability moving into 2023.
Harte Hanks, Inc. (NASDAQ:HHS) will report its Q3 2022 financial results after market close on November 10, 2022. A conference call will follow at 4:30 p.m. ET to discuss the results. Interested parties can access the call via a webcast or by dialing in. A replay will be available until November 24, 2022. The company specializes in customer experience, utilizing data-driven analytics to enhance client engagement. Harte Hanks serves major brands like Bank of America and Pfizer with a workforce of over 2,500 employees globally.
Harte Hanks (NASDAQ: HHS) will present at the Reuters Strategic Marketing Conference on October 21-22, 2022, discussing 'Gen Z & The Rise of Digital Commerce'. Dan Rubin, Chief Analytics Officer, will share insights on engaging Gen Z through data-driven marketing strategies that enhance e-commerce experiences. The conference aims to equip marketing leaders with tools for modern engagement. Additionally, Harte Hanks will exhibit at the Customer Service and Experience Conference from October 18-19, featuring notable brands like UPS and IHG Hotels.
Harte Hanks Inc. (Nasdaq:HHS) announced an expanded partnership with FEVO, a social-commerce technology company, on September 15, 2022. This partnership makes Harte Hanks the exclusive customer experience (CX) partner for FEVO, building on previous successful collaborations. Harte Hanks will provide services such as client support, ticket fulfillment, and back-office support to enhance FEVO's customer engagement. This strategic alliance emphasizes Harte Hanks' commitment to delivering best-in-class customer care, as both companies seek to capitalize on FEVO's impressive growth from 2021.
Harte Hanks (Nasdaq:HHS) has been chosen by Quiet Platforms, a subsidiary of American Eagle Outfitters (NYSE:AEO), as their preferred 'Middle Mile' logistics manager. This partnership entails Harte Hanks managing the shipping of parcels over distances ranging from 600 to 2,000 miles. Quiet Platforms aims to enhance its customer service and operational efficiency through this collaboration, leveraging Harte Hanks' logistics expertise. The platform currently supports numerous brands, reflecting its growth within the logistics sector.
Harte Hanks reported its Q2 2022 financial results, showing a revenue decrease of 1.4% to $48.6 million despite a 24.3% growth in Fulfillment & Logistics Services. Operating income surged 179.5% to $4.0 million, and EBITDA improved to $4.6 million from $2.1 million year-over-year. Net income dropped to $4.5 million from $10.6 million, affected by a prior-year non-recurring gain from PPP loan extinguishment. The company announced plans to repurchase all outstanding Preferred Stock, enhancing shareholder value.
Harte Hanks (NASDAQ:HHS) announced plans to report its Q2 2022 financial results on August 11, 2022, after market closure. A conference call will follow at 4:30 p.m. ET to discuss these results. Interested parties can access the call via a webcast or by dialing in at specified numbers. Harte Hanks, a global leader in customer experience, has a rich history of nearly 100 years, providing analytics and insights to clients worldwide. Their client roster includes major brands like IBM and FedEx.
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