Harte Hanks Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Harte Hanks Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial positions and historical data.</b>

AI Summary

HARTE HANKS INC (HHS) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Harte Hanks Inc. filed a 10-Q report for the quarterly period ended March 31, 2024. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023. Key financial statement components such as common stock, additional paid-in capital, retained earnings, treasury stock, and accumulated other comprehensive income are detailed for multiple periods. The company's principal business address is 9601 McAllister Freeway, Suite 610, San Antonio, TX 78216. Harte Hanks Inc. operates in the Services-Direct Mail Advertising Services industry, SIC code 7331.

Why It Matters

For investors and stakeholders tracking HARTE HANKS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of Harte Hanks Inc., crucial for understanding the company's performance and financial health in early 2024. The detailed breakdown of equity accounts and comparative data across periods allows for trend analysis and assessment of financial stability.

Risk Assessment

Risk Level: low — HARTE HANKS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Monitor future filings for revenue trends, profitability, and any changes in the company's financial structure or operational performance.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-10 — Filing Date (Filed as of date)
• 2023-03-31 — Prior Year Period End (Comparative financial data period)
• 2022-12-31 — Prior Year End (Comparative financial data period)

Key Players & Entities

• HARTE HANKS INC (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-10 (date) — Filed as of date
• 9601 MCALLISTER FREEWAY (address) — Business address street 1
• SAN ANTONIO (city) — Business address city
• TX (state) — Business address state
• 78216 (zip_code) — Business address zip
• 7331 (sic_code) — Standard Industrial Classification

FAQ

Industry Context

Harte Hanks Inc. operates within the direct mail advertising services sector, a segment of the broader marketing and advertising industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Compare the financial data presented in this 10-Q with previous filings to identify trends and changes.
3. Analyze the company's operational segments and any disclosed segment-specific financial information.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the quarterly update for March 31, 2024, providing the latest financial data compared to previous periods like December 31, 2023, and March 31, 2023.

Filing Documents

• hrth-20240331.htm (10-Q) — 793KB
• a20240331ex311.htm (EX-31.1) — 10KB
• a20240331ex312.htm (EX-31.2) — 9KB
• a20240331ex321.htm (EX-32.1) — 5KB
• a20240331ex322.htm (EX-32.2) — 4KB
• 0000045919-24-000026.txt (&nbsp;) — 5060KB
• hrth-20240331.xsd (EX-101.SCH) — 35KB
• hrth-20240331_cal.xml (EX-101.CAL) — 78KB
• hrth-20240331_def.xml (EX-101.DEF) — 115KB
• hrth-20240331_lab.xml (EX-101.LAB) — 401KB
• hrth-20240331_pre.xml (EX-101.PRE) — 273KB
• hrth-20240331_htm.xml (XML) — 816KB

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Comprehensive Loss (Unaudited) 4 Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) 5 Condensed Consolidated Statements of Cash Flows (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 25

Controls and Procedures

Item 4. Controls and Procedures 25

OTHER INFORMATION

PART II. OTHER INFORMATION 26

Legal Proceedings

Item 1. Legal Proceedings 26

Risk Factors

Item 1a. Risk Factors 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 26

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 27

Other Information

Item 5. Other Information 27

Exhibits

Item 6. Exhibits 27 2 Table of Contents PART 1. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Harte Hanks, Inc. and Subsidiaries Condensed Consolidated Balance Sheets In thousands, except shares and per share amounts March 31, 2024 December 31, 2023 ASSETS (unaudited) Current assets Cash and cash equivalents $ 11,464 $ 18,364 Accounts receivable (less allowance for doubtful accounts of $ 144 and $ 474 at March 31, 2024 and December 31, 2023, respectively) 32,778 34,313 Contract assets and unbilled accounts receivable 8,278 7,935 Prepaid expenses 2,222 1,915 Prepaid income taxes and income tax receivable 1,758 1,758 Other current assets 1,270 928 Total current assets 57,770 65,213 Property, plant and equipment (less accumulated depreciation of $ 37,225 and $ 36,533 , respectively) 8,412 8,855 Right-of-use assets 24,507 25,417 Other assets Intangible assets, net 2,640 2,820 Goodwill 1,926 1,926 Deferred tax assets, net 17,106 17,268 Other long-term assets 1,083 1,258 Total other assets 22,755 23,272 Total assets $ 113,444 $ 122,757 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses $ 15,991 $ 23,176 Accrued payroll and related expenses 4,749 5,615 Deferred revenue and customer advances 3,713 3,195 Customer postage and program deposits 1,603 1,815 Other current liabilities 9,580 9,495 Current portion of lease liabilities 4,519 4,815 Total current liabilities 40,155 48,111 Pension liabilities - Qualified plans 10,166 10,540 Pension liabilities - Nonqualified plan 18,426 18,630 Long-term lease liabilities, net of current portion 22,811 23,691 Other long-term liabilities 1,924 1,928 Total liabilities 93,482 102,900 Stockholders' equity Common stock, $ 1 par value, 25,000,000 shares authorized; 12,221,484 shares issued, 7,240,905 and 7,224,718 shares outstanding at March 31, 2024 and December 31, 2023, respectively 12,221 12,221 Additional paid-in capital 153,177 157,889 Retained earnings 844,749 844,920 Less treasury stock, 4,

View Full Filing

View this 10-Q filing on SEC EDGAR