The announcement of the financial results from a company generally leads to a move in its stock one way or another but the Harte Hanks Inc (OTCMKTS:HRTH) stock traded in a range on Thursday.
Market Reaction
On Thursday, HRTH stock jumped 2% at $7.21 with more than 1.6k shares, compared to its average volume of 9.2k shares. The stock has moved within a range of $7.15 – 7.30 after opening trade at $7.20.
Earnings Recap
The company announced its financial results for the third fiscal quarter that ended on September 30, 2021 yesterday. Ahead of the opening of the markets today, it might be a good idea to take a closer look at some of the key highlights. Harte Hanks managed to generate revenues of as much as $49.6 million for the quarter and that reflected an improvement of 4% from the $47.7 million that it had generated in the prior year period.
On the other hand, the diluted earnings per share for the quarter came in at $0.52 per share and that was a significant improvement on the $0.27 per diluted share that Harte Hanks had recorded in the prior year period. Last but certainly not the least, the company managed to generated net income of $4.4 million and that was again a major highlight since in the prior year period, Harte Hanks had suffered a net loss of as much as $1.6 million.
Key Quote
Harte Hanks CEO, Brian Linscott, commented: “The new and refocused Harte Hanks delivered revenue growth and improved performance in each of our business segments with a $6.0 million positive swing in net income. Today, Harte Hanks is strategically well-positioned, offering compelling value to a growing roster of top-tier customers designed to enable sustained profitability. We remain focused on executing margin improvement initiatives across all segments. Looking into next year, we anticipate positive net income for the full year.”
