Harte Hanks Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Harte Hanks Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations.</b>

AI Summary

HARTE HANKS INC (HHS) filed a Annual Report (10-K) with the SEC on April 1, 2024. Harte Hanks Inc. filed its 2023 Form 10-K on April 1, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is Services-Direct Mail Advertising Services. Harte Hanks Inc. was formerly known as Harte Hanks Communications Inc. and Harte Hanks Newspapers Inc. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking HARTE HANKS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Harte Hanks' financial health and strategic direction for the fiscal year 2023, crucial for investors assessing its current standing and future prospects. Understanding the company's historical structure, including former names and incorporation details, offers context for its evolution and market position within the direct mail advertising sector.

Risk Assessment

Risk Level: medium — HARTE HANKS INC shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. However, the lack of specific financial performance data within the provided header information prevents a more granular risk assessment.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion and analysis, and risk factors to make an informed investment decision.

Key Numbers

• 20231231 — Fiscal Year End (Period covered by the report)
• 20240401 — Filing Date (Date the report was filed)
• 7331 — SIC Code (Standard Industrial Classification for Services-Direct Mail Advertising Services)
• 001-07120 — SEC File Number (SEC filing identifier)

Key Players & Entities

• HARTE HANKS INC (company) — Filer name
• Harte Hanks Communications Inc (company) — Former company name
• Harte Hanks Newspapers Inc (company) — Former company name
• DE (company) — State of incorporation
• SAN ANTONIO (company) — Business address city
• TX (company) — Business address state

FAQ

Industry Context

Harte Hanks Inc. operates within the direct mail advertising services industry, a sector focused on marketing and communication through physical mail.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to disclose material information to the SEC.

What Investors Should Do

1. Thoroughly review the complete 10-K document for detailed financial statements, including revenue, net income, and balance sheet information.
2. Analyze the Management's Discussion and Analysis (MD&A) section for insights into the company's performance, strategies, and outlook.
3. Examine the Risk Factors section for potential challenges and uncertainties facing Harte Hanks Inc.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date Harte Hanks Inc. submitted its 10-K filing.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed, providing essential financial and operational details for the fiscal year.)

SIC Code

Standard Industrial Classification code used to classify businesses based on their primary activity. (Indicates Harte Hanks Inc.'s core business is in Direct Mail Advertising Services.)

Year-Over-Year Comparison

This is the initial filing information provided for the 2023 10-K. Comparative data from the previous year's filing is not available in this extract.

Key Financial Figures

• $1.00 — 2024, 7,240,905 shares of common stock, $1.00 par value per share of the registrant w
• $16.0 million — g 2024 through 2026 are estimated to be $16.0 million. In connection with our cost-saving an
• $5.7 million — incurred total restructuring charges of $5.7 million including $4.6 million of operational e
• $4.6 million — uring charges of $5.7 million including $4.6 million of operational efficiency consulting, $
• $0.9 million — n of operational efficiency consulting, $0.9 million in real estate consolidation, and $0.2
• $0.2 million — llion in real estate consolidation, and $0.2 million of other related costs. Customers Our

Filing Documents

• hrth-20231231.htm (10-K) — 1664KB
• a20231231ex31amendedandres.htm (EX-3.1) — 33KB
• a20231231ex32certificateof.htm (EX-3.2) — 9KB
• a20231231ex34fifthamendeda.htm (EX-3.4) — 94KB
• a20231231ex1001loanagreeme.htm (EX-10.01) — 389KB
• a20231231ex102securityagre.htm (EX-10.02) — 167KB
• a20231231ex1007hartehanksi.htm (EX-10.07) — 95KB
• a20231231ex1010separationa.htm (EX-10.10) — 43KB
• a20231231ex211sublist.htm (EX-21.1) — 22KB
• a20231231ex231bakertillyco.htm (EX-23.1) — 2KB
• a20231231ex311.htm (EX-31.1) — 10KB
• a20231231ex312.htm (EX-31.2) — 10KB
• a20231231ex321.htm (EX-32.1) — 5KB
• a20231231ex322.htm (EX-32.2) — 5KB
• a20231231ex97clawbackpolicy.htm (EX-97) — 22KB
• 0000045919-24-000014.txt (&nbsp;) — 11489KB
• hrth-20231231.xsd (EX-101.SCH) — 62KB
• hrth-20231231_cal.xml (EX-101.CAL) — 132KB
• hrth-20231231_def.xml (EX-101.DEF) — 339KB
• hrth-20231231_lab.xml (EX-101.LAB) — 842KB
• hrth-20231231_pre.xml (EX-101.PRE) — 630KB
• hrth-20231231_htm.xml (XML) — 1758KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 19 Item 1C Cybersecurity 19 Item 2.

Properties

Properties 20 Item 3.

Legal Proceedings

Legal Proceedings 21 Item 4. Mine Safety Disclosures 21 P ART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 Item 6.

Selected Financial Data

Selected Financial Data 22 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 29 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 29 Item 9A.

Controls and Procedures

Controls and Procedures 29 Item 9B. Other Information 30 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 30 P ART III Item 10. Directors, Executive Officers and Corporate Governance 30 Item 11.

Executive Compensation

Executive Compensation 30 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 30 Item 13. Certain Relationships and Related Transactions, and Director Independence 30 Item 14. Principal Accountant Fees and Services 30 P ART IV Item 15. Exhibits and Financial Statement Schedules 31 Consolidated Financial Statements 35

SIGNATURES

SIGNATURES 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This report, including the Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A"), contains "forward-looking statements" within the meaning of the federal securities laws. All such statements are qualified by this cautionary note, which is provided pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. Forward-looking statements will also be included from time to time in our other public filings, press releases, our website, and oral and written presentations by management. 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. Examples include statements regarding (1) our strategies and initiatives, including actions designed to respond to market conditions and improve our performance, (2) our financial outlook for revenues, earnings per share, operating income, expense related to equity-based compensation, capital resources and other financial items, if any, (3) expectations for our businesses and for the industries in which we operate, including the impact of economic conditions of the markets we serve on the marketing expenditures and activities of our clients and prospects, (4) competitive factors, (5) acquisition and development plans, (6) expectations regarding legal proceedings and other contingent liabilities, and (7) other statements regarding future events, conditions, or outcomes. 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 state

BUSINESS

ITEM 1. BUSINESS INTRODUCTION Harte Hanks, Inc., together with its subsidiaries ("Harte Hanks," "Company," "we," "our," or "us") is a leading glob al cus tomer experience company. With offices in North America, Asia-Pacific and Europe, Harte Hanks works with some of the world's most respected brands. We are the successor to a newspaper business started by Houston Harte and Bernard Hanks in Texas in the early 1920s. We were incorporated in Delaware on October 1, 197 0. In 1972, Harte Hanks went public and was listed on the New York Stock Exchange ("NYSE"). We became a private company in a leveraged buyout in 1984, and in 1993 we again went public and listed our common stock on the NYSE. On July 13, 2020, we began trading on the OTCQX Best Market (the "OTCQX") . On December 1, 2021, our stock was uplisted to be traded on the Nasdaq Global Market ("Nasdaq"), where it continues to trade today. All reports filed with the Securities and Exchange Commission ("SEC") under the Securities Exchange Act of 1934, as amended (the "Exchange Act") are publicly available. These documents may be accessed free of charge on our website at http://www.hartehanks.com. These documents are provided as soon as practical after they are filed with the SEC and may also be found at the SEC's website at www.sec.gov. Additionally, we have adopted a code of ethics that applies to our chief executive officer, chief financial officer and general counsel which is posted on our website. Our website also includes our corporate governance guidelines and the charters for each of our audit, compensation, and nominating and corporate governance committees. We will provide a printed copy of any of these documents to any requesting stockholder by following the instructions on our website. These website addresses are intended to be for inactive textual references only. None of the information on, or accessible through, these websites are part of this Form 10-K or is incorporated by reference herein. 3 T

View Full Filing

View this 10-K filing on SEC EDGAR