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Monotype Imaging Announces Second Quarter 2012 Results

Stocks in this article: TYPE

Monotype Imaging Holdings Inc. (Nasdaq: TYPE), a leading provider of typefaces, technology and expertise for creative applications and consumer devices, today announced financial results for the second quarter ended June 30, 2012.

Second quarter 2012 and recent highlights

  • Revenue for the quarter was a record $38.5 million, a 24 percent increase year-over-year.
  • Operating income was $11.9 million, or 31 percent of revenue.
  • Non-GAAP net adjusted EBITDA was $16.4 million, or 43 percent of revenue.
  • Cash flow from operations was $14.9 million, a 43 percent increase year-over-year.
  • Company announces cash dividend program with initial quarterly rate of $0.04 per share of common stock.

“In the second quarter, we delivered record profitability, driven by record results in both our OEM and Creative Professional businesses. We also capitalized on revenue opportunities and realized initial expense synergies from our Bitstream acquisition, helping the company attain 43 percent net adjusted EBITDA margins,” said Doug Shaw, president and chief executive officer. “Our second quarter results reflect our continued efforts to enhance our product portfolio, improve diversification and increase momentum in our growth businesses.”

“We’re excited to announce our new cash dividend program,” said Scott Landers, senior vice president and chief financial officer. “Monotype is a unique company with a business model reinforced by recurring revenue, strong cash generation and high profit margins. We are confident that our business model can support long-term growth while providing an additional source of return for our shareholders through quarterly dividends.”

Second quarter 2012 operating results

Revenue for the quarter was $38.5 million, up 24 percent compared to $31.1 million for the second quarter of 2011. OEM revenue was $24.9 million, increasing nine percent from the second quarter of 2011. Creative Professional revenue was $13.5 million, increasing 66 percent from the same period last year.

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