SAN ANTONIO, TX--(Marketwired - Nov 30, 2016) - Harte Hanks (
"Our announcement today is the result of a comprehensive process to maximize the value of the Trillium Software business in the growing Data Quality and Data Governance segment," stated Karen Puckett, Chief Executive Officer. "Now Harte Hanks can wholly focus resources on our core strengths and capitalize on our unique combination of marketing strategy, analytics, and execution capabilities. The sale of Trillium Software, along with the cost reduction program we implemented in 2016, provides Harte Hanks with a stronger balance sheet as we move the Company on its path toward revenue stability and historically strong cash flows and improved profitability."
Harte Hanks will use substantially all of the net proceeds from the sale to retire its outstanding credit facility. Foros acted as financial advisor and Morgan, Lewis & Bockius LLP acted as legal advisor to Harte Hanks.
About Harte Hanks:
Harte Hanks is a global marketing services firm specializing in multi-channel marketing solutions that connect our clients with their customers in powerful ways. Experts in defining, executing and optimizing the customer journey, Harte Hanks offers end-to-end marketing services including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. From visionary thinking to tactical execution, Harte Hanks delivers smarter customer interactions for some of the world's leading brands. Harte Hanks 5,000+ employees are located in North America, Asia-Pacific and Europe. For more information, visit Harte Hanks at www.hartehanks.com, call 800-456-9748, email us at pr@hartehanks.com. Follow us on Twitter @hartehanks or Facebook at https://www.facebook.com/HarteHanks.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of U.S. federal securities laws. All such statements are qualified by this cautionary note, provided pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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. 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 and events to vary materially from what is expressed in or indicated by the forward-looking statements. In such an event, our business, financial condition, results of operations or liquidity could be materially adversely affected and investors in our securities could lose part or all of their investments. These risks, uncertainties, assumptions and other factors include: (a) our ability to complete anticipated divestitures and reorganizations; (b) unanticipated developments regarding litigation or other contingent liabilities; (c) local, national and international economic and business conditions, including (i) market conditions that may adversely impact marketing expenditures and (ii) the impact of economic uncertainty in the United States and elsewhere on the financial condition, marketing expenditures and activities of our clients and prospects; (d) the demand for our products and services by clients and prospective clients, including (i) the willingness of existing clients to maintain or increase their spending on products and services that are or remain profitable for us, and (ii) our ability to predict changes in client needs and preferences; (e) economic and other business factors that impact the industry verticals we serve, including competition and consolidation of current and prospective clients, vendors and partners in these verticals; (f) our ability to manage and timely adjust our capacity, workforce and cost structure to effectively serve our clients; (g) our ability to improve our processes and to provide new products and services in a timely and cost-effective manner though development, license or acquisition; (h) our ability to protect our data centers against security breaches and other interruptions and to protect sensitive personal information of our clients and their customers; (i) our ability to respond to increasing concern, regulation and legal action over consumer privacy issues, including changing requirements for collection, processing and use of information; (j) the impact privacy and other regulations, including restrictions on unsolicited marketing communications and other consumer protection laws; (k) fluctuations in fuel prices, paper prices, postal rates and postal delivery schedules; (l) the number of shares, if any, that we may repurchase in connection with our repurchase program; (m) the ability to integrate and successfully leverage newly-acquired service offerings as anticipated; and; and (n) other factors discussed from time to time in our filings with the Securities and Exchange Commission, including under "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2015. The forward-looking statements in this press release are made only as of the date hereof and we undertake no obligation to update publicly any forward-looking statement, even if new information becomes available or other events occur in the future.
As used herein, "Harte Hanks" refers to Harte Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Harte Hanks' logo and name are trademarks of Harte Hanks.
Contact Information:
Media Contact:
Doug Shepard
EVP/Chief Financial Officer
(210) 829-9120
doug.shepard@hartehanks.com