Harte-Hanks (HHS) Misses Q3 EPS by 8c
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Harte-Hanks (NYSE: HHS) reported Q3 EPS of ($0.05), $0.08 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $97.4 million versus the consensus estimate of $115.6 million.
Commenting on performance, Chief Executive Officer Karen Puckett said, "During the quarter we continued to implement our expense reduction program and are starting to see evidence of those efforts, in the face of ongoing revenue pressure. While our revenue performance was disappointing during the third quarter, we continue to see the rate of client losses stabilize and we are beginning to see some proof points in our turnaround such as recent sales success, improving client satisfaction and stabilization of our database business. We are pleased with the success 3Q Digital and Harte Hanks Consulting are having winning larger clients as these businesses leverage our broader range of services and cross-sell into the Harte Hanks client base. We remain focused on reducing expenses while also stabilizing revenues. During the third quarter we substantially completed our previously announced efforts to eliminate $25 million of expenses from the business.
"We announced in June our intention to explore strategic alternatives for Trillium Software. The process is progressing, and we continue to expect to have further news by year end."
For earnings history and earnings-related data on Harte-Hanks (HHS) click here.
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