American Banknote Holographics Inc., a recent spinoff of American Banknote Corp., reported second-quarter revenue of $9.5 million, up 52% from a year earlier. Net income rose 60%, to $2.3 million.
The company controls a sizable share of the market for security holograms on credit cards and other documents. It is the sole provider of holograms for MasterCard, Discover, Europay International, and Diners Club, and does substantial business with Visa and International Business Machines Corp.
American Banknote Holographics raised $107 million in an initial public offering in July. The $8.50 issue price for 13.6 million shares was below the underwriters' target range of $10 to $12.
The parent company, a printer of stock certificates and foreign currencies, kept the proceeds and will retire its debt, said spokeswoman Loren Goldstein.