Harte Hanks Inc. (HHS) saw its loss narrow to $3.04 million, or $0.05 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $170.91 million, or $2.77 a share.
Revenue during the quarter dropped 10.44 percent to $97.42 million from $108.78 million in the previous year period.
Operating loss for the quarter was $4.57 million, compared with an operating loss of $209.64 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $0.44 million compared to operating profit of $4.13 million in prior year period.
Commenting on performance, chief executive officer Karen Puckett said, "During the quarter we continued to implement our expense reduction program and are starting to see evidence of those efforts, in the face of ongoing revenue pressure. While our revenue performance was disappointing during the third quarter, we continue to see the rate of client losses stabilize and we are beginning to see some proof points in our turnaround such as recent sales success, improving client satisfaction and stabilization of our database business. We are pleased with the success 3Q Digital and Harte Hanks Consulting are having winning larger clients as these businesses leverage our broader range of services and cross-sell into the Harte Hanks client base. We remain focused on reducing expenses while also stabilizing revenues. During the third quarter we substantially completed our previously announced efforts to eliminate $25 million of expenses from the business."
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