Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
Font technology specialist Monotype Image Holdings (NASDAQ: TYPE ) surged ahead in revenue this quarter. The company brought in $40.5 million in Q3, up 6.5% compared to $37.9 million in Q3 2012. The revenue boost was helped by a 20% gain in sales in its creative professional market, which markets, in CEO Douglas Shaw's words, "type-centric solutions that ensure brand integrity and creative expression."
While Monotype's revenue grew this quarter, its operating and net incomes declined. Income from operations dropped 6.1% from Q3 2012, to $11.7 million, and net income fell 11.5%, to $7 million.
Margins may be smaller, but Monotype's cash has increased significantly since this time last year. On its balance sheet, the company currently has $64.3 million to its name, compared to $39.3 million in Q3 2012.
Shaw is confident in Monotype's long-term growth potential. He said, it "has been reaffirmed with the announcement of a share repurchase program, which demonstrates our ongoing commitment to deliver value to shareholders." Monotype also has a new partnership with Google that will provide a version of Monotype's Typecase application on Google Fonts.