Market Commentary and Intraday News
Monotype Imaging 2Q profit jumps 32 percent
298 days ago
(AP:WOBURN, Mass.) Monotype Imaging Holdings Inc., which licenses typefaces to designers and manufacturers, said Friday that its second-quarter net income jumped 32 percent as it logged strong sales to computer makers and creative firms.
It also announced that it will start paying a quarterly dividend of 4 cents per share, or 16 cents annually. The first payout will be made Oct. 19 to shareholders of record Oct. 1. The news sent shares surging 11 percent to close at $14.72.
The company earned $7.4 million, or 19 cents per share, in the April-June quarter, up from $5.6 million, or 15 cents per share, in the same quarter last year.
Revenue rose 24 percent to $38.5 million from $31.1 million a year earlier. That included a 9 percent increase to $24.9 million in sales to computer manufacturers and a 66 percent jump to $13.5 million in creative professional sales.
The results topped analysts' average forecast for earnings of 17 cents per share on sales of $37.4 million.
For the full year, Monotype forecast earnings of 69 cents to 73 cents per share and revenue of $146 million to $149 million. On average, analysts are predicting earnings of 79 cents per share on revenue of $149.5 million, according to FactSet.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.