Log In | Become a Member | Contact Us

Market Intelligence for Printing and Publishing

Connect on Twitter | Facebook | LinkedIn

Featured: Special Report: Printing Outlook 2019     Production Inkjet     Installations and Placements Tracker

Harland to Take Fourth-Quarter Charges - Company Reiterates Comfort With 2000 Estimates

Monday, January 08, 2001

Press release from the issuing company

ATLANTA (January 8, 2001) - John H. Harland Company (NYSE: JH) today announced that it will take fourth-quarter charges totaling approximately $14.5 million pre-tax ($11 million, net of tax), or $0.38 per share, stemming from severance-related expenses and a write-down of certain intangible assets. The severance-related expenses resulted from the reorganization of the company's businesses into three segments: Printed Products, Harland Financial Solutions and Scantron. Approximately 145 positions are being eliminated as the company streamlines management of its operations. The write-down of intangibles is attributable to legacy software products. "We remain comfortable that we will meet or exceed earnings estimates for 2000 of $1.55 - $1.60 per share, excluding the impact of the Concentrex acquisition and one-time events," said Timothy C. Tuff, chairman and chief executive officer of Harland. According to Tuff, the segmentation of Harland's businesses and the subsequent streamlining of management reflect the way the company manages its businesses for both shareholders and customers.




Email Icon Email

Print Icon Print

Become a Member

Join the thousands of printing executives who are already part of the WhatTheyThink Community.

Copyright © 2019 WhatTheyThink. All Rights Reserved