Harte Hanks to Uplist to the Nasdaq Global Market

AUSTIN, Texas, Nov. 30, 2021 /PRNewswire/ — Harte Hanks, Inc. (OTCQX: HRTH) (the “Company”), a leading global customer experience company, today announced that the Company has met the stringent financial, liquidity and corporate governance listing requirements of the Nasdaq Global Market® (“Nasdaq”), and the Company has been approved for listing on the Nasdaq.

Trading on Nasdaq is expected to commence at the market open on December 1, 2021, and the shares will trade under the ticker symbol “HHS”.  The Company’s shares will continue to trade on the OTCQX under the symbol “HRTH” until trading on the Nasdaq commences.  Shareholders are not required to take any action as a result of the uplisting and symbol change.

“Uplisting to the Nasdaq marks another major milestone for Harte Hanks,” said Harte Hanks’ Chairman of the Board of Directors Jack Griffin. “With the expanded audience of investors, increased access to liquidity, and the significant improvement in our financial performance, we are well positioned for future profitable growth. Harte Hanks traded under the ticker ‘HHS’ for nearly 50 years, from its IPO in 1972 through 2020, and returning to a national exchange and this longstanding ticker symbol is an important indication of the progress we have made.”

Chief Executive Officer Brian Linscott added, “Uplisting to the Nasdaq reflects the considerable progress that Harte Hanks has made and will serve as a great opportunity to expand the Company’s institutional shareholder base and to enhance the Company’s efforts to create long-term shareholder value.”

About Harte Hanks

Harte Hanks (OTCMKTS: HRTH) 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 Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, Ford, FedEx, Midea, Sony and IBM among others. Headquartered in Austin, Texas, Harte Hanks has over 2,500 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.

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 their investments. These risks, uncertainties, assumptions and other factors include: (a) local, national and international economic and business conditions, including (i) the outbreak of diseases, such as the COVID-19 coronavirus and new variants thereof, which has curtailed travel to and from certain countries and geographic regions, created supply chain disruption and shortages, disrupted business operations and reduced consumer spending, (ii) market conditions that may adversely impact marketing expenditures and (iii) the impact of economic environments and competitive pressures on the financial condition, marketing expenditures and activities of our clients and prospects; (b) the demand for our products and services by clients and prospective clients, including (i) the willingness of existing clients to maintain or increase their spending on products and services that are or remain profitable for us, and (ii) our ability to predict changes in client needs and preferences; (c) economic and other business factors that impact the industry verticals we serve, including competition and consolidation of current and prospective clients, vendors and partners in these verticals; (d) our ability to manage and timely adjust our facilities, capacity, workforce and cost structure to effectively serve our clients; (e) 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; (f) our ability to protect our facilities against security breaches and other interruptions and to protect sensitive personal information of our clients and their customers; (g) 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; (h) the impact of privacy and other regulations, including restrictions on unsolicited marketing communications and other consumer protection laws; (i) fluctuations in fuel prices, paper prices, postal rates and postal delivery schedules; (j) the number of shares, if any, that we may repurchase in connection with our repurchase program; (k) unanticipated developments regarding litigation or other contingent liabilities; (l) our ability to complete anticipated divestitures and reorganizations, including cost-saving initiatives; (m) our ability to realize the expected tax refunds; (n) the realization of any benefits that may be derived from listing the Company’s common stock on Nasdaq and (o) 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, 2020 which was filed on March 24, 2021. 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.

Investor Relations Contact:
Rob Fink
FNK IR
HRTH@fnkir.com
646-809-4048

SOURCE Harte Hanks, Inc.

Entravision Announces Participation in the Bank of America 2021 Leveraged Finance Conference

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision Communications Corporation (NYSE: EVC), a leading global media and marketing technology company, today announced its participation in the Bank of America 2021 Leveraged Finance Conference to be held virtually November 30 – December 2, 2021. Chris Young, Chief Financial Officer, is scheduled to present at 11:15 a.m. ET on Thursday, December 2, 2021 and will participate in meetings with investors throughout the day.

The presentation will be webcast live over the Internet, and links to the live webcast and replay will be available on Entravision’s Investor Relations website at investor.entravision.com.

About Entravision Communications Corporation

Entravision is a diversified global media, marketing and technology company serving clients throughout the United States and in fast growing population centers in more than 30 countries across Latin America, Europe, Asia and Africa. Our dynamic portfolio of services includes digital, television and radio offerings. Digital, our largest revenue segment, is comprised of five core businesses: Entravision Digital, Smadex, Cisneros Interactive, MediaDonuts, and 365 Digital. Entravision Digital provides branding and performance digital solutions to clients and small- and mid-size businesses throughout the world, including the U.S., Latin America and Europe. Smadex provides cutting-edge mobile programmatic solutions and demand-side platforms which enable advertisers to effectively execute performance campaigns using machine-learned bidding algorithms. Cisneros Interactive provides unique digital marketing solutions representing major global publishers and ad-tech platforms in Latin America, while also managing the leading digital audio network and solutions player Audio.Ad. MediaDonuts provides digital marketing performance and branding services in the Southeast Asia region and maintains unique commercial partnerships with some of the world’s leading digital publishers and social media platforms. 365 Digital is a digital advertising solutions provider that offers exclusive sales representations with major global platforms in South Africa. Beyond digital, Entravision has 53 television stations and is the largest affiliate group of the Univision and UniMás television networks. Entravision also manages 46 primarily Spanish-language radio stations that feature nationally recognized, Emmy award-winning talent. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about all of our marketing, media, and technology offerings at entravision.com or connect with us on LinkedIn and Facebook.

Christopher T. Young
Chief Financial Officer
Entravision Communications Corporation
310-447-3870

Kimberly Esterkin
ADDO Investor Relations
310-829-5400
evc@addo.com

Source: Entravision Communications Corporation

Entravision Announces Participation in the Bank of America 2021 Leveraged Finance Conference

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision Communications Corporation (NYSE: EVC), a leading global media and marketing technology company, today announced its participation in the Bank of America 2021 Leveraged Finance Conference to be held virtually November 30 – December 2, 2021. Chris Young, Chief Financial Officer, is scheduled to present at 11:15 a.m. ET on Thursday, December 2, 2021 and will participate in meetings with investors throughout the day.

The presentation will be webcast live over the Internet, and links to the live webcast and replay will be available on Entravision’s Investor Relations website at investor.entravision.com.

About Entravision Communications Corporation

Entravision is a diversified global media, marketing and technology company serving clients throughout the United States and in fast growing population centers in more than 30 countries across Latin America, Europe, Asia and Africa. Our dynamic portfolio of services includes digital, television and radio offerings. Digital, our largest revenue segment, is comprised of five core businesses: Entravision Digital, Smadex, Cisneros Interactive, MediaDonuts, and 365 Digital. Entravision Digital provides branding and performance digital solutions to clients and small- and mid-size businesses throughout the world, including the U.S., Latin America and Europe. Smadex provides cutting-edge mobile programmatic solutions and demand-side platforms which enable advertisers to effectively execute performance campaigns using machine-learned bidding algorithms. Cisneros Interactive provides unique digital marketing solutions representing major global publishers and ad-tech platforms in Latin America, while also managing the leading digital audio network and solutions player Audio.Ad. MediaDonuts provides digital marketing performance and branding services in the Southeast Asia region and maintains unique commercial partnerships with some of the world’s leading digital publishers and social media platforms. 365 Digital is a digital advertising solutions provider that offers exclusive sales representations with major global platforms in South Africa. Beyond digital, Entravision has 53 television stations and is the largest affiliate group of the Univision and UniMás television networks. Entravision also manages 46 primarily Spanish-language radio stations that feature nationally recognized, Emmy award-winning talent. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about all of our marketing, media, and technology offerings at entravision.com or connect with us on LinkedIn and Facebook.

Christopher T. Young
Chief Financial Officer
Entravision Communications Corporation
310-447-3870

Kimberly Esterkin
ADDO Investor Relations
310-829-5400
evc@addo.com

Source: Entravision Communications Corporation

Salem Media Group Announces the Extension of Jennifer Horn’s Agreement with the ‘Morning Answer Show’

KRLA/KTIE Director of Programming, Chuck Tyler commented, “Jen and Grant have instant chemistry. They are the most talented team I have ever had the privilege of working with. They have the rare ability to cover and comment on serious issues, while having some fun at the same time.”

According to Salem Vice President of Spoken Word Phil Boyce, “Waking up Los Angeles is one of the most important jobs in radio, and Jen and Grant have figured out the formula. They always have a smile, but can deliver the day’s top news with a dose of reality. Salem is very proud to showcase these hosts.”

Jennifer Horn is excited for the commitment from KRLA/KTIE, “Once in a career you get a golden opportunity and this is it! It has been the ultimate honor working with Salem and our local team to develop a morning show that is making incredible strides in the LA market. Grant Stinchfield is the ultimate professional. He brings a background in journalism, a unique perspective and sense of humor, it’s been so much fun to partner and build chemistry with him. The sky is the limit with the Morning Answer!”

Grant Stinchfield commented, “I could not be more thrilled to work for Salem Media, a company that doesn’t just respect free speech but cherishes it. Jennifer Horn is an amazing talent. Through her passion, humor and welcoming nature, she has created a true morning family that I am so grateful to be a part of.”

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.

Evan D. Masyr
Executive Vice President and Chief
Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Salem Media Group Announces the Extension of Jennifer Horn’s Agreement with the ‘Morning Answer Show’

KRLA/KTIE Director of Programming, Chuck Tyler commented, “Jen and Grant have instant chemistry. They are the most talented team I have ever had the privilege of working with. They have the rare ability to cover and comment on serious issues, while having some fun at the same time.”

According to Salem Vice President of Spoken Word Phil Boyce, “Waking up Los Angeles is one of the most important jobs in radio, and Jen and Grant have figured out the formula. They always have a smile, but can deliver the day’s top news with a dose of reality. Salem is very proud to showcase these hosts.”

Jennifer Horn is excited for the commitment from KRLA/KTIE, “Once in a career you get a golden opportunity and this is it! It has been the ultimate honor working with Salem and our local team to develop a morning show that is making incredible strides in the LA market. Grant Stinchfield is the ultimate professional. He brings a background in journalism, a unique perspective and sense of humor, it’s been so much fun to partner and build chemistry with him. The sky is the limit with the Morning Answer!”

Grant Stinchfield commented, “I could not be more thrilled to work for Salem Media, a company that doesn’t just respect free speech but cherishes it. Jennifer Horn is an amazing talent. Through her passion, humor and welcoming nature, she has created a true morning family that I am so grateful to be a part of.”

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.

Evan D. Masyr
Executive Vice President and Chief
Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Friday, November 12, 2021

Harte Hanks (HRTH)
A Well-Oiled, More Efficient, Cash Flow Machine

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A surprisingly strong Q3. Total company revenue increased a surprising 4.0% to $49.6 million, well above our $45.3 million estimate, fueled by a 10.2% increase in its Customer Care segment revenues. Customer Care revenues beat our estimate by a whopping 29.2%, as the Covid related customer did not go away as anticipate and the company gained additional clients. The company reported its 6th consecutive quarter of positive EBITDA, with adj. EBITDA beating expectations, $6.1 million versus our $3.3 million estimate.


Favorable momentum.  Customer Care is expected to be stronger than originally expected as the Covid related business is not expected to fall off until next year. As a result, we are raising our Q4 total company revenue expectation from $42.5 million to $48.7 million. We are raising our Q4 adj. EBITDA estimate from $3.1 million to $4.4 million, bringing our full year 2021 adj. EBITDA estimate to …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Harte Hanks Generates $0.52 in EPS for Third Quarter of 2021

Third Quarter Operational and Financial Highlights

• Revenues improved by 4% to 
  $49.6 million, compared to 
  $47.7 million in the same period last year.
• $0.52 diluted EPS for Third Quarter of 2021 vs. (
  $0.27) for Third Quarter of 2020.
• Operating income of 
  $4.2 million, compared to operating income of 
  $0.8 million in the same period last year.
• Net income of 
  $4.4 million, compared to net loss of 
  ($1.6) million in the same period last year.
• EBITDA improved to 
  $4.8 million compared to 
  $1.5 million in the same period last year.¹

The third quarter results by segment were as follows:

1)    Customer Care, $19.8 million in revenue, 40% of total – Revenue increased by 
$1.8 million from the previous year quarter and year-over-year EBITDA improved to 
$4.0 million from 
$3.0 million. Customer Care continued to experience strong revenue tailwinds from COVID-related project work. New business wins for the quarter included a healthcare insurance provider to deliver year-round customer care services. The customer chose 
Harte Hanks based on our extensive experience with supporting annual enrollment and our consistent ability to exceed 
Centers for Medicare & Medicaid Services delivery standards.

2)    Fulfillment & Logistics, $15.1 million in revenue, 30% of total – Revenue increased by 
$0.5 million compared to the previous year quarter and year-over-year EBITDA improved to 
$1.7 million from 
$0.3 million. New business wins for the quarter included an international financing company making its 
U.S. debut. Harte Hanks will fulfill point-of-purchase displays, printed sales materials, new customer welcome kits, and trade show equipment.

3)    Marketing Services, $14.7 million revenue, 30% of total – Revenue decreased by 
$0.5 million compared to the previous year quarter and year-over-year EBITDA improved to 
$2.8 million from 
$1.2 million. New business wins for the quarter included a leading health insurance provider. The customer selected 
Harte Hanks to provide strategy, analytics, and creative services to accelerate membership growth.

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.”

Third Quarter 2021 Results

Third quarter revenues were $49.6 million, up from 
$47.7 million a year ago and up sequentially from 
$0.3 million in the second quarter of 2021. Continued growth in our Customer Care segment led our third quarter performance.

Third quarter operating income was 
$4.2 million, compared to 
$0.8 million in the third quarter of 2020. The improvement resulted from the Company’s revenue increases and cost reduction efforts, including an 8% reduction in production and distribution expense as well as a 34% reduction in restructuring expense.

Third quarter Adjusted Operating Income² was 
$5.5 million, compared to 
$2.5 million in the third quarter of 2020. The improvement in Adjusted Operating Income reflects improved revenue and continued cost-cutting actions. Income attributable to common stockholders for the third quarter was $3.7 million, or $0.54 and 
$0.52 per basic and diluted share, respectively. 

Conference Call Information

The Company will host a conference call and live webcast to discuss these results today at 4:30 p.m. EST. To access the live call, please dial (888) 506-0059 (toll free) or (973) 528-0048 and, if requested, reference conference ID 663451. The conference call will also be webcast live in the Investors Events section of the 
Harte Hanks website https://investors.hartehanks.com/.

Following the conclusion of the live call, a telephonic replay will be available for 72 hours by dialing (877) 481-4010 or (919) 882-2331 and using the replay passcode 43515. The replay will also be available for at least 90 days in the Investors Events section of the 
Harte Hanks website.

About Harte Hanks: 

Harte Hanks
 (OTCMKTS: HRTH) 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 
Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, 
Ford, FedEx, Midea, Sony, and IBM among others.  
Harte Hanks has over 2,500 employees in offices across the 
Americas, 
Europe and 
Asia Pacific.

For more information visit hartehanks.com

Cautionary Note Regarding Forward-Looking Statements:

Our press release and related earnings conference call contain “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) the outbreak of diseases, such as the COVID-19 coronavirus and new variants thereof, which has curtailed travel to and from certain countries and geographic regions, created supply chain disruption and shortages, disrupted business operations and reduced consumer spending,  (ii) market conditions that may adversely impact marketing expenditures and (iii) the impact of economic environments and competitive pressures on the financial condition, marketing expenditures and activities of our clients and prospects; (b) the demand for our products and services by clients and prospective clients, including (i) the willingness of existing clients to maintain or increase their spending on products and services that are or remain profitable for us, and (ii) our ability to predict changes in client needs and preferences; (c) economic and other business factors that impact the industry verticals we serve, including competition and consolidation of current and prospective clients, vendors and partners in these verticals; (d) our ability to manage and timely adjust our facilities, capacity, workforce and cost structure to effectively serve our clients; (e) 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; (f) our ability to protect our facilities against security breaches and other interruptions and to protect sensitive personal information of our clients and their customers; (g) 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; (h) the impact of privacy and other regulations, including restrictions on unsolicited marketing communications and other consumer protection laws; (i) fluctuations in fuel prices, paper prices, postal rates and postal delivery schedules; (j) the number of shares, if any, that we may repurchase in connection with our repurchase program; (k) unanticipated developments regarding litigation or other contingent liabilities; (l) our ability to complete anticipated divestitures and reorganizations, including cost-saving initiatives; (m) our ability to realize the expected tax refunds; and (n) 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, 2020 which was filed on March 24, 2021. The forward-looking statements in this press release and our related earnings conference call 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”). In this press release and our related earnings conference call, 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. 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 (Loss)” as a measure useful to both management and investors in their analysis of the Company’s financial results because it facilitates a period-to-period comparison of Operating Revenue and Operating Income (Loss) by excluding restructuring expense, impairment expense and stock-based compensation. The most directly comparable measure for this non-GAAP financial measure is Operating Income (Loss).

The Company also presents the non-GAAP financial measure “Adjusted EBITDA” as a supplemental measure of operating performance in order to provide an improved understanding of underlying performance trends. The Company defines “Adjusted EBITDA” as earnings before interest expense net, income tax expense (benefit), depreciation expense, restructuring expense, impairment expense, stock-based compensation expense, and other non-cash expenses. The most directly comparable measure for Adjusted EBITDA is Net Income (Loss). We believe Adjusted EBITDA is 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 Adjusted EBITDA to the comparable GAAP Net Income (Loss), which is included in this press release, and not to rely on any single financial measure to evaluate the Company’s financial performance.

The foregoing measures do not serve as a substitute and should not be construed as a substitute for GAAP performance, but 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 and earnings conference call presentations are 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.

EBITDA is the Company’s measure of segment profitability. For additional information please see the Company’s Quarterly Report on Form 10-Q for the quarter ended 
September 30, 2021.

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.

Investor Relations Contact:

Rob Fink
FNK IR
HRTH@fnkir.com
646-809-4048

SOURCE 
Harte Hanks, Inc.

Harte Hanks Generates $0.52 in EPS for Third Quarter of 2021

Third Quarter Operational and Financial Highlights

• Revenues improved by 4% to 
  $49.6 million, compared to 
  $47.7 million in the same period last year.
• $0.52 diluted EPS for Third Quarter of 2021 vs. (
  $0.27) for Third Quarter of 2020.
• Operating income of 
  $4.2 million, compared to operating income of 
  $0.8 million in the same period last year.
• Net income of 
  $4.4 million, compared to net loss of 
  ($1.6) million in the same period last year.
• EBITDA improved to 
  $4.8 million compared to 
  $1.5 million in the same period last year.¹

The third quarter results by segment were as follows:

1)    Customer Care, $19.8 million in revenue, 40% of total – Revenue increased by 
$1.8 million from the previous year quarter and year-over-year EBITDA improved to 
$4.0 million from 
$3.0 million. Customer Care continued to experience strong revenue tailwinds from COVID-related project work. New business wins for the quarter included a healthcare insurance provider to deliver year-round customer care services. The customer chose 
Harte Hanks based on our extensive experience with supporting annual enrollment and our consistent ability to exceed 
Centers for Medicare & Medicaid Services delivery standards.

2)    Fulfillment & Logistics, $15.1 million in revenue, 30% of total – Revenue increased by 
$0.5 million compared to the previous year quarter and year-over-year EBITDA improved to 
$1.7 million from 
$0.3 million. New business wins for the quarter included an international financing company making its 
U.S. debut. Harte Hanks will fulfill point-of-purchase displays, printed sales materials, new customer welcome kits, and trade show equipment.

3)    Marketing Services, $14.7 million revenue, 30% of total – Revenue decreased by 
$0.5 million compared to the previous year quarter and year-over-year EBITDA improved to 
$2.8 million from 
$1.2 million. New business wins for the quarter included a leading health insurance provider. The customer selected 
Harte Hanks to provide strategy, analytics, and creative services to accelerate membership growth.

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.”

Third Quarter 2021 Results

Third quarter revenues were $49.6 million, up from 
$47.7 million a year ago and up sequentially from 
$0.3 million in the second quarter of 2021. Continued growth in our Customer Care segment led our third quarter performance.

Third quarter operating income was 
$4.2 million, compared to 
$0.8 million in the third quarter of 2020. The improvement resulted from the Company’s revenue increases and cost reduction efforts, including an 8% reduction in production and distribution expense as well as a 34% reduction in restructuring expense.

Third quarter Adjusted Operating Income² was 
$5.5 million, compared to 
$2.5 million in the third quarter of 2020. The improvement in Adjusted Operating Income reflects improved revenue and continued cost-cutting actions. Income attributable to common stockholders for the third quarter was $3.7 million, or $0.54 and 
$0.52 per basic and diluted share, respectively. 

Conference Call Information

The Company will host a conference call and live webcast to discuss these results today at 4:30 p.m. EST. To access the live call, please dial (888) 506-0059 (toll free) or (973) 528-0048 and, if requested, reference conference ID 663451. The conference call will also be webcast live in the Investors Events section of the 
Harte Hanks website https://investors.hartehanks.com/.

Following the conclusion of the live call, a telephonic replay will be available for 72 hours by dialing (877) 481-4010 or (919) 882-2331 and using the replay passcode 43515. The replay will also be available for at least 90 days in the Investors Events section of the 
Harte Hanks website.

About Harte Hanks: 

Harte Hanks
 (OTCMKTS: HRTH) 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 
Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, 
Ford, FedEx, Midea, Sony, and IBM among others.  
Harte Hanks has over 2,500 employees in offices across the 
Americas, 
Europe and 
Asia Pacific.

For more information visit hartehanks.com

Cautionary Note Regarding Forward-Looking Statements:

Our press release and related earnings conference call contain “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) the outbreak of diseases, such as the COVID-19 coronavirus and new variants thereof, which has curtailed travel to and from certain countries and geographic regions, created supply chain disruption and shortages, disrupted business operations and reduced consumer spending,  (ii) market conditions that may adversely impact marketing expenditures and (iii) the impact of economic environments and competitive pressures on the financial condition, marketing expenditures and activities of our clients and prospects; (b) the demand for our products and services by clients and prospective clients, including (i) the willingness of existing clients to maintain or increase their spending on products and services that are or remain profitable for us, and (ii) our ability to predict changes in client needs and preferences; (c) economic and other business factors that impact the industry verticals we serve, including competition and consolidation of current and prospective clients, vendors and partners in these verticals; (d) our ability to manage and timely adjust our facilities, capacity, workforce and cost structure to effectively serve our clients; (e) 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; (f) our ability to protect our facilities against security breaches and other interruptions and to protect sensitive personal information of our clients and their customers; (g) 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; (h) the impact of privacy and other regulations, including restrictions on unsolicited marketing communications and other consumer protection laws; (i) fluctuations in fuel prices, paper prices, postal rates and postal delivery schedules; (j) the number of shares, if any, that we may repurchase in connection with our repurchase program; (k) unanticipated developments regarding litigation or other contingent liabilities; (l) our ability to complete anticipated divestitures and reorganizations, including cost-saving initiatives; (m) our ability to realize the expected tax refunds; and (n) 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, 2020 which was filed on March 24, 2021. The forward-looking statements in this press release and our related earnings conference call 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”). In this press release and our related earnings conference call, 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. 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 (Loss)” as a measure useful to both management and investors in their analysis of the Company’s financial results because it facilitates a period-to-period comparison of Operating Revenue and Operating Income (Loss) by excluding restructuring expense, impairment expense and stock-based compensation. The most directly comparable measure for this non-GAAP financial measure is Operating Income (Loss).

The Company also presents the non-GAAP financial measure “Adjusted EBITDA” as a supplemental measure of operating performance in order to provide an improved understanding of underlying performance trends. The Company defines “Adjusted EBITDA” as earnings before interest expense net, income tax expense (benefit), depreciation expense, restructuring expense, impairment expense, stock-based compensation expense, and other non-cash expenses. The most directly comparable measure for Adjusted EBITDA is Net Income (Loss). We believe Adjusted EBITDA is 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 Adjusted EBITDA to the comparable GAAP Net Income (Loss), which is included in this press release, and not to rely on any single financial measure to evaluate the Company’s financial performance.

The foregoing measures do not serve as a substitute and should not be construed as a substitute for GAAP performance, but 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 and earnings conference call presentations are 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.

EBITDA is the Company’s measure of segment profitability. For additional information please see the Company’s Quarterly Report on Form 10-Q for the quarter ended 
September 30, 2021.

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.

Investor Relations Contact:

Rob Fink
FNK IR
HRTH@fnkir.com
646-809-4048

SOURCE 
Harte Hanks, Inc.

Friday, November 12, 2021

Harte Hanks (HRTH)
A Well-Oiled, More Efficient, Cash Flow Machine

Harte-Hanks is a marketing services company that provides multichannel marketing solutions as well as consulting, data analytics, and strategic assessment. The company’s offerings focus on business-to-business, retail, finance, and automotive segments through digital, social, mobile, and print media offerings. Harte-Hanks strives to develop better customer relationships through its marketing and analytical services for clients. The majority of its revenue is derived from its marketing services in the retail, technology, and consumer brand segments.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A surprisingly strong Q3. Total company revenue increased a surprising 4.0% to $49.6 million, well above our $45.3 million estimate, fueled by a 10.2% increase in its Customer Care segment revenues. Customer Care revenues beat our estimate by a whopping 29.2%, as the Covid related customer did not go away as anticipate and the company gained additional clients. The company reported its 6th consecutive quarter of positive EBITDA, with adj. EBITDA beating expectations, $6.1 million versus our $3.3 million estimate.


Favorable momentum.  Customer Care is expected to be stronger than originally expected as the Covid related business is not expected to fall off until next year. As a result, we are raising our Q4 total company revenue expectation from $42.5 million to $48.7 million. We are raising our Q4 adj. EBITDA estimate from $3.1 million to $4.4 million, bringing our full year 2021 adj. EBITDA estimate to …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Gray Announces Closing Of Offering Of $1,300.0 Million Of 5.375% Senior Notes Due 2031

Gray Contacts:
www.gray.tv
Jim Ryan, Executive Vice President and Chief Financial Officer, 404-504-9828
Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333

Gray Announces Closing Of Offering Of $1,300.0 Million Of 5.375% Senior Notes Due 2031

Gray Contacts:
www.gray.tv
Jim Ryan, Executive Vice President and Chief Financial Officer, 404-504-9828
Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333

Monday, November 08, 2021

E.W. Scripps (SSP)
We Are Connected!

The E.W. Scripps Co. (www.scripps.com) serves audiences and businesses through a growing portfolio of television, print and digital media brands. After approval of its acquisition of two Granite Broadcasting stations later this year, Scripps will own 21 local television stations as well as daily newspapers in 13 markets across the United States. It also runs an expanding collection of local and national digital journalism and information businesses including digital video news service Newsy. Scripps also produces television programming, runs an award-winning investigative reporting newsroom in Washington, D.C., and serves as the longtime steward of one of the nation’s largest, most successful and longest-running educational programs, Scripps National Spelling Bee. Founded in 1879, Scripps is focused on the stories of tomorrow.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Q3 exceeds expectations. Total company revenues increased 11.7% to $555.2 million, which was slightly above our $546.8 million estimate. The largest upside revenue variance was in the company’s Networks segment, which increased 17.8%, above our 14.2% growth estimate and above management’s previous guidance of up mid teens. Adjusted EBITDA was $132.4 million, 14.3% above our $115.8 million estimate. The largest EBITDA variance was in its Network segment. Our original estimates factored in higher costs due to the launch of Newsy, Defy and True—-.


Limited supply chain/labor shortage impact.  All of its leading advertising categories are trending favorably and more than offsetting the Auto category, which has been hurt by chip shortages. Management indicated that Auto may not rebound until the second half 2022. Nonetheless, all other categories are growing nicely, including a large emerging ad category, Sports Betting …

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.