June 2007 -- Harte-Hanks, Inc. reported on April 30 first-quarter 2007 revenues of $283.0 million. These results compare with $278.4 million in revenues for the first quarter of 2006.
"While we knew and communicated that the first half of this year would be challenging, we are nevertheless not pleased with how this year has started. We did, however, generate $23.7 million of free cash flow in the quarter, 7% higher than our free cash flow in the first quarter of 2006, and we have made and are continuing to make adjustments to our cost structure," said CEO Richard Hochhauser.
There were however some positive steps taken this quarter to create a nationwide network of local classified and advertising content online. PennySaverUSA.com, the Web site of the shopper publications of Harte-Hanks, Inc., entered into a relationship with the Independent Free Papers of America (IFPA), a membership organization that represents more than 225 free-circulation community papers and shoppers reaching more than 17 million homes in the U.S. and Canada. The website also began working with Google to provide coupons and other local business data collected by Harte-Hanks-owned shopper publications the PennySaver and The Flyer.
Also this quarter, PennySaverUSA.com (and TheFlyer.com) launched "Power Pages," a new Internet product for the print display customers of Harte-Hanks Shoppers.
For further financial information visit http://www.harte-hanks.com/Interior.aspx?CategoryID=200.
