Net income was $7.4 million, compared to $5.6 million in the second quarter of last year. Earnings per diluted share were $0.19, compared to $0.15 in the same period last year.
Non-GAAP net income, which excludes the amortization of intangible assets and stock-based compensation expense, net of taxes, was $10.1 million, compared to $8.1 million in the second quarter of 2011. Non-GAAP earnings per diluted share were $0.27, compared to $0.22 in the same period last year.
Non-GAAP net adjusted EBITDA was $16.4 million, or 43 percent of revenue, compared to $13.8 million in the second quarter of last year.
A reconciliation of GAAP measures to non-GAAP measures for the three and six months ended June 30, 2012 and 2011 is provided in the financial tables that accompany this release.Cash, cash flow and debt balances Outstanding debt was $42.3 million as of June 30, 2012, compared to $37.3 million as of Dec. 31, 2011, and $57.3 million as of June 30, 2011. Outstanding debt as of June 30, 2012 includes the drawdown of approximately $25 million on the company’s revolving line of credit to finance the acquisition of Bitstream completed on March 19, 2012. Monotype had cash and cash equivalents of $32.9 million as of June 30, 2012, compared to $53.9 million as of Dec. 31, 2011 and $28.1 million as of March 31, 2012. The company generated $14.9 million of cash from operations in the second quarter of 2012, an increase of 43 percent year-over-year. Quarterly dividend Monotype’s board of directors approved a quarterly cash dividend program. The cash dividend will be paid on Oct. 19, 2012 to shareholders of record as of the close of business on Oct. 1, 2012. The initial quarterly dividend rate will be $0.04 per share of common stock or $0.16 annually. Monotype intends to increase this payout over time. Future declarations of dividends and the establishment of future record dates and payment dates are subject to the final determination of the board of directors.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV