M&F Worldwide posts 2Q profit on revenue boost

M&F Worldwide Corp., whose units make licorice and provide check-related services to financial institutions, said Friday its second-quarter profit soared on a 33 percent increase in revenue because of acquisitions.

The company earned $19.3 million, or 92 cents per share in the three-month period ending in June, compared with a loss of $35.2 million, or $1.68 per share, in the same period a year ago.

The year-ago quarter included costs associated with the company's acquisition of the John H. Harland Co., which was completed that quarter.

Excluding one-time gains of 4 cents a share, the company said it earned 88 cents a share in the second quarter of this year.

Revenue grew to $484.9 million from $365.8 million. The company said the revenue boost was due to its Harland acquisition, which accounted for $82.1 million in revenue in the latest quarter. The company's acquisition of Pearson PLC's data management unit also contributed an additional $25.8 million in revenue.

M&F Worldwide's shares rose $3.46, or 9.7 percent, to $39 in afternoon trading. The stock has ranged from $32.99 to $60.25 over the past year.