Exchange Warns Harte Hanks

US-based direct marketing and targeting giant Harte Hanks has received notification of non-compliance from the New York Stock Exchange (NYSE) after its share price dropped below one dollar.

The NYSE requires listed companies to stay above this mark, and warns them when their average closing price remains less than $1 over a consecutive 30 trading-day period - Harte Hanks fell into this category as of 7th August, and it now has six months to bring both the price and the one-month average price back over a dollar - otherwise the exchange will commence suspension and delisting procedures.

San Antonio-based Harte Hanks shares were trading at $1.67 a year ago, but today are worth roughly half that. In 2013 they hit a 5-year high of $9.77. Yesterday the company finally reported Q1 revenue of $94.9m and net loss of $7.4m, but in an earnings call CEO Karen Puckett (pictured) said a turnaround strategy begun eighteen months ago has resulted in a slowing of the decline in revenue, higher customer satisfaction and improvements in operations.

The firm, which has more than 5,000 employees in North America, Asia-Pacific and Europe, specializes in multi-channel marketing solutions, offering consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center services. In the past year it has launched a tool called the Buyers' Journey Diagnostic Analysis, and sold its data quality business Trillium Software to big data firm Syncsort for $112m in cash.

Web site: www.hartehanks.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.