Harland Reports Strong FourthQuarter
ATLANTA - (02/04/05) -- Credit union outsourcer John H.Harland Co. reported a 25% surge in fourth quarter earningsThursday, to $21.1 million, or 75 cents a share, compared to thesame period last year. Fourth quarter revenues rose 5% to $219million. Fourth quarter results included a pre-tax charge of $6.7million related to the continued reorganization and retrenchment ofthe company's core printed products business. Fourth quarter salesincluded a 2.6% increase in revenues from printed products; an 8%rise in software and services revenues; and a 5% increase in salesfrom the company's Scantron unit. For the full year, revenues wereup 1.5% to $798.5 million, while net income declined slightly, by1.5%, to $55.1 million, or $1.97 a share.