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Harland's Earnings Are Up

J ohn H. Harland Company, provider of software and printed products to the financial institution market, recently reported first-quarter results. Earnings exceeded analysts' expectations; in fact, revenue was up 8 percent for the quarter. The company also reduced its long-term debt during the quarter by $30 million.

A further look at Harland's three business segments:

Printed Products

Revenue for the quarter from the company's Printed Products segment, which includes direct marketing, checks and business solutions, was $138.8 million compared to $147.6 million in 2000. Contribution from Printed Products declined 1.9 percent year-over-year to $24.8 million.

"Contribution from this segment was down during the quarter due to a decline in direct marketing sales," says Timothy C. Tuff, chairman and CEO of Harland.

Software and Services

Any ground that was lost in the Printed Products sector was made up in Software and Services. This segment reported revenues of $29.9 million for the quarter compared to $6.7 million a year earlier. Software and Services accounted for 15.6 percent of the company's total revenue for the quarter compared to 3.8 percent of the total revenue for the first quarter of 2000.

"Moving forward, you will see us improving the business further and introducing products and services that integrate business intelligence with transaction processing," Tuff says.

Scantron

Harland's Scantron subsidiary reported revenues of $22.9 million for the quarter, up almost 2 percent from a year earlier. Scantron also reported strong contribution of $5.3 million for the quarter, up 57.3 percent from the first quarter in 2000.

Scantron is one of the leading brands in education, with a presence in 96 percent of school districts with more than 10,000 students and in 80 percent of colleges and universities.

Information: www.harland.net or www.scantron.com.