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CHELMSFORD, MA / ACCESS Newswire / March 17, 2025 / Harte Hanks, Inc. (NASDAQ:HHS), a leading global customer experience company focused on bringing companies closer to customers for over 100 years, today announced financial results for the fourth quarter and full year ended December 31, 2024.
Revenue for the fourth quarter and full year of 2024 was $47.1 million and $185.2 million compared to $49.5 million and $191.5 million for the same periods of 2023 or a decrease of 4.8% and 3.3%, respectively. EBITDA for the fourth quarter and full year of 2024 was a negative $0.3 million and positive $6.5 million compared to a negative $1.1 million and positive $7.6 million for the same periods in 2023. The 2024 EBITDA loss included noncash items, $1.6 million of goodwill impairment and $1.5 million of intangible asset impairment, in the fourth quarter associated with the write-down of the InsideOut acquisition. The Company ended the year with $9.9 million in cash, zero debt, and a fully terminated Pension Plan I, positioning it for future growth in 2025 and beyond.
The Company continued to make significant progress on Project Elevate, a strategic initiative aimed at optimizing the cost structure and streamlining operations. David Fisher, Interim Chief Operating Officer, emphasized the Company's focus on driving innovation and operational excellence. "We continue to execute on Project Elevate to optimize our cost structure and streamline our organization. These initiatives have eliminated cost consistent with our expectations in 2024 and will continue to address business-critical initiatives in 2025. It's a pivotal time as the Company continues its efforts to identify a CEO, while the organization remains focused on driving innovation and operational excellence during this transition period. The next phase of innovation will be driven by heightened strategic ownership within our segments, aligning our resources to meet each segments' needs, and modernizing our business to exceed customers' expectations."
Fourth Quarter Highlights
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The Company ended the year with a cash balance of $9.9 million compared to $18.4 million at December 31, 2023, with zero debt and a fully terminated Pension Plan I.
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Total revenues for Q4 2024 were $47.1 million, down 4.8% compared to $49.5 million in Q4 2023.
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Operating loss of $1.6 million compared to a loss of $2.3 million in the prior-year quarter.
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Net loss for the fourth quarter was $2.4 million, or $0.33 per basic and diluted share, compared to net loss of $2.0 million, or $0.27 per basic and diluted share, in the prior-year quarter.
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The fourth quarter of 2024 had negative EBITDA of $0.3 million compared to negative EBITDA of $1.1 million in the same period in the prior year. Adjusted EBITDA, which excludes stock-based compensation, severance, restructuring charges and goodwill and intangibles impairments, was $3.5 million in Q4 2024 compared to $5.2 million in Q4 of 2023.
Segment Highlights
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Customer Care, $15.0 million in revenue, 32% of total - Segment revenue decreased $0.2 million or 1.5% versus the prior year and EBITDA totaled $2.9 million for the quarter, down18.0% year-over-year. In the fourth quarter of 2023, revenues associated with a short term special project yielded higher margins than usual which contributed to this variance.
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Fulfillment & Logistics Services, $20.8 million in revenue, 44% of total - Segment revenue decreased $0.6 million or 2.7% versus the prior year quarter and EBITDA totaled $1.3 million, down 31.4%. The lower EBITDA was the result of the increased cost of warehouse space and operational costs associated with an investment in technology. Both cost increases will enable expansion across our fulfillment operations.
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Marketing Services, $11.3 million in revenue, 24% of total - Segment revenue decreased $1.6 million or 12.1% compared to the prior year quarter and EBITDA for the fourth quarter was a negative $1.5 million or in equilibrium with the prior year. The impairment of goodwill and intangible assets reduced EBITDA by $3.2 million without which the segment maintained the same earnings year over year, despite the reduction in revenues.
Consolidated Fourth Quarter 2024 Results
Fourth quarter revenues were $47.1 million, down 4.8% from $49.5 million in the fourth quarter of 2023 due to decreased revenue in all of the Company's operating segments.
Fourth quarter operating loss was $1.6 million, compared to a loss of $2.3 million in the fourth quarter of 2023. The 2024 operating loss included $1.6 million of goodwill impairment and $1.5 million intangible asset impairment associated with the write-down of the InsideOut acquisition.
Net loss for the quarter was $2.4 million, or $0.33 per basic and diluted share, compared to net loss of $2.0 million, or $0.27 per basic and diluted share, in the fourth quarter last year. The net loss during the 2024 fourth quarter was impact by the one-time $3.2 million impairment of goodwill and intangible assets from the 2022 acquisition of InsideOut.
Consolidated Full Year 2024 Results
Full-year revenues in 2024 were $185.2 million, down 3.3% from $191.5 million in 2023. Operating income in 2024 was $2.1 million, compared to operating income of $3.4 million in 2023 or a year over year decrease of 37.7%. Net loss for 2024 was $30.3 million, or $4.15 per basic and diluted share, compared to net loss of $1.6 million, or $0.21 per basic and diluted share in 2023. The 2024 net loss was primarily attributable to the $37.5 million in pension plan termination charges.
Balance Sheet and Liquidity
Harte Hanks ended the year with $9.9 million in cash and cash equivalents and $24.0 million of capacity on its credit line. The Company had no outstanding debt as of December 31, 2024. The Company's financial position continues to be strong, and it is well-positioned to execute on its long-term growth strategies in 2025 and beyond.
About Harte Hanks:
Harte Hanks (NASDAQ: HHS) is a leading global customer experience company whose mission is to partner with clients to provide them with CX strategy, data-driven analytics and actionable insights combined with seamless program execution to better understand, attract and engage their customers.
Using its unparalleled resources and award-winning talent in the areas of Customer Care, Fulfillment and Logistics, and Marketing Services, Harte Hanks has a proven track record of driving results for some of the world's premier brands, including PNC Bank, GlaxoSmithKline, Unilever, Pfizer, Warner Bros Discovery, Ford, FedEx, Midea, and IBM among others. Headquartered in Chelmsford, Massachusetts, Harte Hanks has over 2,000 employees in offices across the Americas, Europe, and Asia Pacific.
For more information, visit hartehanks.com
As used herein, "Harte Hanks" or "the Company" refers to Harte Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Harte Hanks' logo and name are trademarks of Harte Hanks, Inc.
Cautionary Note Regarding Forward-Looking Statements:
Our press release contains "forward-looking statements" within the meaning of U.S. federal securities laws. All such statements are qualified by this cautionary note, provided pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements other than historical facts are forward-looking and may be identified by words such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "seeks," "could," "intends," or words of similar meaning. These forward-looking statements are based on current information, expectations and estimates and involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to vary materially from what is expressed in or indicated by the forward-looking statements. In that event, our business, financial condition, results of operations or liquidity could be materially adversely affected and investors in our securities could lose part or all of their investments. These risks, uncertainties, assumptions and other factors include: (a) local, national and international economic and business conditions, including (i) market conditions that may adversely impact marketing expenditures, and (ii) the impact of economic environments and competitive pressures on the financial condition, marketing expenditures and activities of our clients and prospects; (iii) the demand for our products and services by clients and prospective clients, including (iv) the willingness of existing clients to maintain or increase their spending on products and services that are or remain profitable for us, and (vi) our ability to predict changes in client needs and preferences; (b) economic and other business factors that impact the industry verticals we serve, including competition, inflation and consolidation of current and prospective clients, vendors and partners in these verticals; (c) our ability to manage and timely adjust our facilities, capacity, workforce and cost structure to effectively serve our clients; (d) our ability to improve our processes and to provide new products and services in a timely and cost-effective manner though development, license, partnership or acquisition; (e) our ability to protect our facilities against security breaches and other interruptions and to protect sensitive personal information of our clients and their customers; (f) our ability to respond to increasing concern, regulation and legal action over consumer privacy issues, including changing requirements for collection, processing and use of information; (g) the impact of privacy and other regulations, including restrictions on unsolicited marketing communications and other consumer protection laws; (h) fluctuations in fuel prices, paper prices, postal rates and postal delivery schedules; (i) the number of shares, if any, that we may repurchase in connection with our repurchase program; (j) unanticipated developments regarding litigation or other contingent liabilities; (k) our ability to complete reorganizations, including cost-saving initiatives; and (l) other factors discussed from time to time in our filings with the Securities and Exchange Commission, including under "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 which was filed on April 1, 2024. The forward-looking statements in this press release are made only as of the date hereof, and we undertake no obligation to update publicly any forward-looking statement, even if new information becomes available or other events occur in the future.
Supplemental Non-GAAP Financial Measures:
The Company reports its financial results in accordance with generally accepted accounting principles ("GAAP"). However, the Company may use certain non-GAAP measures of financial performance in order to provide investors with a better understanding of operating results and underlying trends to assess the Company's performance and liquidity in this press release. We have presented herein a reconciliation of these measures to the most directly comparable GAAP financial measure.
The Company presents the non-GAAP financial measure "Adjusted Operating Income" as a useful measure to both management and investors in their analysis of the Company's financial results because it facilitates a period-to-period comparison of Operating (loss) income excluding stock-based compensation, goodwill and intangible impairment, severance and restructuring. The most directly comparable measure for this non-GAAP financial measure is Operating Income.
The Company presents the non-GAAP financial measure "EBITDA" as a supplemental measure of operating performance in order to provide an improved understanding of underlying performance trends. The Company defines "EBITDA" as Net loss adjusted to exclude income tax expense (benefit), net, other expense (income), net, depreciation, and amortization expense. The Company defines "Adjusted EBITDA" as EBITDA adjusted to exclude stock-based compensation, severance, restructuring, and goodwill and intangible impairment. The most directly comparable measure for EBITDA and Adjusted EBITDA is Net Income. We believe EBITDA and Adjusted EBITDA are an important performance metric because it facilitates the analysis of our results, exclusive of certain non-cash items, including items which do not directly correlate to our business operations; however, we urge investors to review the reconciliation of non-GAAP EBITDA to the comparable GAAP Net Income, which is included in this press release, and not to rely on any single financial measure to evaluate the Company's financial performance.
The use of non-GAAP measures do not serve as a substitute and should not be construed as a substitute for GAAP performance but should provide supplemental information concerning our performance that our investors and we find useful. The Company evaluates its operating performance based on several measures, including these non-GAAP financial measures. The Company believes that the presentation of these non-GAAP financial measures in this press release are a useful supplemental financial measures of operating performance for investors because they facilitate investors' ability to evaluate the operational strength of the Company's business. However, there are limitations to the use of these non-GAAP measures, including that they may not be calculated the same by other companies in our industry limiting their use as a tool to compare results. Any supplemental non-GAAP financial measures referred to herein are not calculated in accordance with GAAP and they should not be considered in isolation or as substitutes for the most comparable GAAP financial measures.
Investor Relations Contact:
Investor.Relations@HarteHanks.com
Harte Hanks, Inc.
Consolidated Statements of Operations (Unaudited)
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| In thousands, except per share amounts | 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Operating revenue | $ | 47,129 | $ | 49,491 | $ | 185,242 | $ | 191,492 | ||||||||
| Operating expenses | ||||||||||||||||
| Labor | 23,426 | 23,884 | 93,769 | 97,968 | ||||||||||||
| Production and distribution | 14,794 | 16,410 | 56,644 | 59,568 | ||||||||||||
| Advertising, selling, general and administrative | 5,730 | 4,602 | 22,781 | 20,673 | ||||||||||||
| Restructuring expense | 286 | 5,687 | 2,402 | 5,687 | ||||||||||||
| Goodwill impairment charge | 1,631 | - | 1,631 | - | ||||||||||||
| Intangible assets impairment charge | 1,537 | - | 1,537 | - | ||||||||||||
| Depreciation and amortization expense | 1,278 | 1,186 | 4,385 | 4,237 | ||||||||||||
| Total operating expenses | 48,682 | 51,769 | 183,149 | 188,133 | ||||||||||||
| Operating (loss) income | (1,553 | ) | (2,278 | ) | 2,093 | 3,359 | ||||||||||
| Other expenses, net | ||||||||||||||||
| Interest expense (income), net | 80 | 15 | 187 | (135 | ) | |||||||||||
| Pension Plan termination charges | - | - | 37,505 | - | ||||||||||||
| Other expenses, net | 231 | 1,653 | 2,335 | 5,413 | ||||||||||||
| Total other expenses, net | 311 | 1,668 | 40,027 | 5,278 | ||||||||||||
| Loss before income taxes | (1,864 | ) | (3,946 | ) | (37,934 | ) | (1,919 | ) | ||||||||
| Income tax expense (benefit) | 570 | (1,969 | ) | (7,637 | ) | (349 | ) | |||||||||
| Net loss | (2,434 | ) | (1,977 | ) | (30,297 | ) | (1,570 | ) | ||||||||
| Loss per common share | ||||||||||||||||
| Basic and Diluted | $ | (0.33 | ) | $ | (0.27 | ) | $ | (4.15 | ) | $ | (0.21 | ) | ||||
| Weighted-average common shares outstanding | ||||||||||||||||
| Basic and Diluted | 7,355 | 7,221 | 7,293 | 7,310 | ||||||||||||
| Comprehensive income, net of tax | ||||||||||||||||
| Net loss | $ | (2,434 | ) | $ | (1,977 | ) | $ | (30,297 | ) | $ | (1,570 | ) | ||||
| Adjustment to pension liabilities | 2,647 | 243 | 32,273 | 1,664 | ||||||||||||
| Foreign currency translation adjustments | 165 | 903 | (1,780 | ) | 2,548 | |||||||||||
| Total other comprehensive income, net of tax | 2,812 | 1,146 | 30,493 | 4,212 | ||||||||||||
| Comprehensive income (loss) | $ | 378 | $ | (831 | ) | $ | 196 | $ | 2,642 | |||||||
Harte Hanks, Inc.
Condensed Consolidated Balance Sheets (Unaudited)
| In thousands | December 31, 2024 | December 31, 2023 | ||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 9,934 | $ | 18,364 | ||||
| Accounts receivable (less allowance of $50 and $474 at December 31, 2024 and 2023, respectively) | 31,648 | 34,313 | ||||||
| Contract assets and unbilled accounts receivable | 8,215 | 7,935 | ||||||
| Prepaid expenses | 1,511 | 1,915 | ||||||
| Prepaid income tax and income tax receivable | 938 | 1,758 | ||||||
| Other current assets | 1,368 | 928 | ||||||
| Total current assets | 53,614 | 65,213 | ||||||
| Net property, plant and equipment | 8,956 | 8,855 | ||||||
| Right-of-use assets | 22,460 | 25,417 | ||||||
| Other assets | 16,752 | 23,272 | ||||||
| Total assets | $ | 101,782 | $ | 122,757 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 21,832 | $ | 23,176 | ||||
| Accrued payroll and related expenses | 3,210 | 5,615 | ||||||
| Deferred revenue and customer advances | 1,589 | 3,195 | ||||||
| Customer postage and program deposits | 1,625 | 1,815 | ||||||
| Other current liabilities | 3,145 | 9,495 | ||||||
| Short-term lease liabilities | 3,736 | 4,815 | ||||||
| Total current liabilities | 35,137 | 48,111 | ||||||
| Pension liabilities - Qualified plans | 5,445 | 10,540 | ||||||
| Pension liabilities - Nonqualified plan | 17,103 | 18,630 | ||||||
| Long-term lease liabilities | 20,860 | 23,691 | ||||||
| Other long-term liabilities | 1,548 | 1,928 | ||||||
| Total liabilities | 80,093 | 102,900 | ||||||
| Stockholders' equity | ||||||||
| Common stock | 12,221 | 12,221 | ||||||
| Additional paid-in capital | 124,194 | 157,889 | ||||||
| Retained earnings | 814,623 | 844,920 | ||||||
| Less treasury stock | (915,752 | ) | (951,083 | ) | ||||
| Accumulated other comprehensive loss | (13,597 | ) | (44,090 | ) | ||||
| Total stockholders' equity | 21,689 | 19,857 | ||||||
| Total liabilities and stockholders' equity | $ | 101,782 | $ | 122,757 | ||||
Harte Hanks, Inc.
Reconciliations of Non-GAAP Financial Measures (Unaudited)
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| In thousands, except per share data | 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net loss | $ | (2,434 | ) | $ | (1,977 | ) | (30,297 | ) | $ | (1,570 | ) | |||||
| Income tax expense (benefit) | 570 | (1,969 | ) | (7,637 | ) | (349 | ) | |||||||||
| Other expenses, net | 311 | 1,668 | 40,027 | 5,278 | ||||||||||||
| Depreciation and amortization expense | 1,278 | 1,186 | 4,385 | 4,237 | ||||||||||||
| EBITDA | $ | (275 | ) | $ | (1,092 | ) | $ | 6,478 | $ | 7,596 | ||||||
| Stock-based compensation | 330 | 215 | 1,984 | 1,418 | ||||||||||||
| Severance | - | 399 | 8 | 1,775 | ||||||||||||
| Restructuring expense | 286 | 5,687 | 2,402 | 5,687 | ||||||||||||
| Goodwill impairment charge | 1,631 | - | 1,631 | - | ||||||||||||
| Intangible assets impairment charge | 1,537 | - | 1,537 | - | ||||||||||||
| Adjusted EBITDA | $ | 3,509 | $ | 5,209 | $ | 14,040 | $ | 16,476 | ||||||||
| Operating (loss) income | $ | (1,553 | ) | $ | (2,278 | ) | $ | 2,093 | $ | 3,359 | ||||||
| Stock-based compensation | 330 | 215 | 1,984 | 1,418 | ||||||||||||
| Goodwill impairment charge | 1,631 | - | 1,631 | - | ||||||||||||
| Intangible assets impairment charge | 1,537 | - | 1,537 | - | ||||||||||||
| Severance | - | 399 | 8 | 1,775 | ||||||||||||
| Restructuring expense | 286 | 5,687 | 2,402 | 5,687 | ||||||||||||
| Adjusted operating income | $ | 2,231 | $ | 4,023 | $ | 9,655 | $ | 12,239 | ||||||||
| Adjusted operating margin (a) | 4.7 | % | 8.1 | % | 5.2 | % | 6.4 | % | ||||||||
(a) Adjusted Operating Margin equals Adjusted Operating Income divided by Revenues.
Harte Hanks, Inc.
Statement of Operations by Segments (Unaudited)
In thousands
| Year ended December 31, 2024 | Marketing Services | Customer | Fulfillment | Restructuring Expense | Unallocated Corporate | Total | ||||||||||||||||||
| Revenues | $ | 50,332 | $ | 52,918 | $ | 81,992 | $ | - | $ | - | $ | 185,242 | ||||||||||||
| Segment labor expense | 26,440 | 34,175 | 20,263 | - | 12,891 | 93,769 | ||||||||||||||||||
| Other segment operating expense | 11,468 | 6,260 | 52,770 | - | 8,927 | 79,425 | ||||||||||||||||||
| Restructuring expense | - | - | - | 2,402 | - | 2,402 | ||||||||||||||||||
| Contribution margin | $ | 12,424 | $ | 12,483 | $ | 8,959 | $ | (2,402 | ) | $ | (21,818 | ) | $ | 9,646 | ||||||||||
| Overhead Allocation | 4,074 | 2,355 | 3,198 | - | (9,627 | ) | - | |||||||||||||||||
| Goodwill and intangible assets impairment charges | 3,168 | - | - | - | - | 3,168 | ||||||||||||||||||
| EBITDA (unaudited) | $ | 5,182 | $ | 10,128 | $ | 5,761 | $ | (2,402 | ) | $ | (12,191 | ) | $ | 6,478 | ||||||||||
| Depreciation and amortization expense | 1,459 | 207 | 1,256 | - | 1,463 | 4,385 | ||||||||||||||||||
| Operating income (loss) | $ | 3,723 | $ | 9,921 | $ | 4,505 | $ | (2,402 | ) | $ | (13,654 | ) | $ | 2,093 | ||||||||||
| Year ended December 31, 2023 | Marketing Services | Customer | Fulfillment | Restructuring Expense | Unallocated Corporate | Total | ||||||||||||||||||
| Revenues | $ | 52,910 | $ | 53,620 | $ | 84,962 | $ | - | $ | - | $ | 191,492 | ||||||||||||
| Segment labor expense | 30,938 | 35,345 | 19,418 | - | 12,267 | 97,968 | ||||||||||||||||||
| Other segment operating expense | 12,351 | 6,013 | 53,797 | - | 8,080 | 80,241 | ||||||||||||||||||
| Restructuring expense | - | - | - | 5,687 | - | 5,687 | ||||||||||||||||||
| Contribution margin | $ | 9,621 | $ | 12,262 | $ | 11,747 | $ | (5,687 | ) | $ | (20,347 | ) | $ | 7,596 | ||||||||||
| Overhead allocation | 2,984 | 2,774 | 2,891 | - | (8,649 | ) | - | |||||||||||||||||
| EBITDA (unaudited) | $ | 6,637 | $ | 9,488 | $ | 8,856 | $ | (5,687 | ) | $ | (11,698 | ) | $ | 7,596 | ||||||||||
| Depreciation and amortization expense | 1,093 | 500 | 1,142 | - | 1,502 | 4,237 | ||||||||||||||||||
| Operating income (loss) | $ | 5,544 | $ | 8,988 | $ | 7,714 | $ | (5,687 | ) | $ | (13,200 | ) | $ | 3,359 | ||||||||||
| Three months ended December 31, 2024 | Marketing Services | Customer | Fulfillment | Restructuring Expense | Unallocated Corporate | Total | ||||||||||||||||||
| Revenues | $ | 11,342 | $ | 15,024 | $ | 20,763 | $ | - | $ | - | $ | 47,129 | ||||||||||||
| Segment labor expense | 5,660 | 9,628 | 5,351 | - | 2,787 | 23,426 | ||||||||||||||||||
| Other segment operating expense | 3,002 | 1,951 | 13,334 | - | 2,237 | 20,524 | ||||||||||||||||||
| Restructuring expense | - | - | - | 286 | - | 286 | ||||||||||||||||||
| Contribution margin | $ | 2,680 | $ | 3,445 | $ | 2,078 | $ | (286 | ) | $ | (5,024 | ) | $ | 2,893 | ||||||||||
| Overhead Allocation | 1,033 | 594 | 795 | - | (2,422 | ) | - | |||||||||||||||||
| Goodwill and intangible assets impairment charges | 3,168 | - | - | - | - | 3,168 | ||||||||||||||||||
| EBITDA (unaudited) | $ | (1,521 | ) | $ | 2,851 | $ | 1,283 | $ | (286 | ) | $ | (2,602 | ) | $ | (275 | ) | ||||||||
| Depreciation and amortization expense | 362 | 47 | 499 | 370 | 1,278 | |||||||||||||||||||
| Operating (loss) income | $ | (1,883 | ) | $ | 2,804 | $ | 784 | $ | (286 | ) | $ | (2,972 | ) | $ | (1,553 | ) | ||||||||
| Three months ended December 31, 2023 | Marketing Services | Customer | Fulfillment | Restructuring Expense | Unallocated Corporate | Total | ||||||||||||||||||
| Revenues | $ | 12,907 | $ | 15,248 | $ | 21,336 | $ | - | $ | - | $ | 49,491 | ||||||||||||
| Segment labor expense | 7,118 | 9,349 | 4,346 | - | 3,071 | 23,884 | ||||||||||||||||||
| Other segment operating expense | 3,432 | 1,750 | 14,433 | - | 1,397 | 21,012 | ||||||||||||||||||
| Restructuring expense | - | - | - | 5,687 | - | 5,687 | ||||||||||||||||||
| Contribution margin | $ | 2,357 | $ | 4,149 | $ | 2,557 | $ | (5,687 | ) | $ | (4,468 | ) | $ | (1,092 | ) | |||||||||
| Overhead Allocation | 723 | 672 | 687 | - | (2,082 | ) | - | |||||||||||||||||
| EBITDA (unaudited) | $ | 1,634 | $ | 3,477 | $ | 1,870 | $ | (5,687 | ) | $ | (2,386 | ) | $ | (1,092 | ) | |||||||||
| Depreciation and amortization expense | 340 | 61 | 407 | - | 378 | 1,186 | ||||||||||||||||||
| Operating income (loss) | $ | 1,294 | $ | 3,416 | $ | 1,463 | $ | (5,687 | ) | $ | (2,764 | ) | $ | (2,278 | ) | |||||||||
SOURCE: Harte Hanks, Inc.
View the original press release on ACCESS Newswire