Harte-Hanks 2nd-quarter profit slips 20 percent

By Associated Press
July 24, 2008 | Comments (0)

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Harte-Hanks Inc., a direct-marketing company, said Thursday its second-quarter profit slipped, partly because of weakness in its Shoppers unit that tugged down overall sales growth.

Profit declined around 20 percent to $18.2 million, or 29 cents per share, from $22.9 million, or 31 cents per share, a year earlier.

Sales declined around 5 percent to $274.8 million from $290.1 million a year earlier.

Analysts polled by Thomson Financial expected a profit of 26 cents per share and sales of $273.5 million.

Revenue in the company's Shoppers unit declined 20 percent, partly because of weakness in California and Florida. Harte-Hanks Shoppers owns, operates and distributes shopper publications.

Chief Executive Officer Dean Blythe said more of the company's customers are "becoming cautious with their spending plans in the face of extreme economic uncertainty."

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