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Monotype Imaging Announces Second Quarter 2012 Results

“During the past five years, we have generated predictable cash flows regardless of economic conditions,” said Landers. “Since the beginning of 2007, our operations have funded over $120 million in debt principal repayments, and we have invested significantly behind our growth initiatives. We’ve created a more diversified company and are well positioned to take advantage of expanded market opportunities in displays and digital publishing. As we look forward, we believe our disciplined capital allocation strategy, which now includes a cash dividend program, will support our growth strategies, manage our balance sheet and provide shareholders with an additional source of equity return.”

Financial outlook

For the third quarter of 2012, Monotype expects revenue in the range of $36.5 million to $38.0 million. The company anticipates third quarter 2012 non-GAAP net adjusted EBITDA in the range of $15.0 million to $16.0 million, GAAP earnings per diluted share in the range of $0.17 to $0.19 and non-GAAP earnings per diluted share in the range of $0.24 to $0.26.

For the full year 2012, Monotype expects revenue in the range of $146.0 million to $149.0 million. The company anticipates full year 2012 non-GAAP net adjusted EBITDA in the range of $61.0 million to $63.0 million, GAAP earnings per diluted share in the range of $0.69 to $0.73 and non-GAAP earnings per diluted share in the range of $0.97 to $1.01.

Conference call details

Monotype will host a conference call on Friday, July 27, 2012, at 8:30 a.m. EDT to discuss the company’s second quarter 2012 results and business outlook for 2012. Individuals who are interested in listening to the audio webcast should log on to the Investor Relations portion of the About Us section of Monotype’s website at The live call can also be accessed by dialing 877-941-0844 (domestic) or 480-629-9835 (international) using passcode 4552176. If individuals are unable to listen to the live call, the audio webcast will be archived in the Investor Relations portion of the company’s website for one year.

Non-GAAP financial measures

This press release contains non-GAAP financial measures under the rules of the U.S. Securities and Exchange Commission. This non-GAAP information supplements and is not intended to represent a measure of performance in accordance with disclosures required by generally accepted accounting principles. Non-GAAP financial measures are used internally to manage the business, such as in establishing an annual operating budget and in reporting to lenders. Non-GAAP financial measures are used by Monotype management in its operating and financial decision-making because management believes these measures reflect ongoing business in a manner that allows meaningful period-to-period comparisons. Accordingly, Monotype believes it is useful for investors and others to review both GAAP and non-GAAP measures in order to (a) understand and evaluate current operating performance and future prospects in the same manner as management does and (b) compare in a consistent manner the company’s current financial results with past financial results. The primary limitations associated with the use of non-GAAP financial measures are that these measures may not be directly comparable to the amounts reported by other companies and they do not include all items of income and expense that affect operations. Monotype management compensates for these limitations by considering the company’s financial results and outlook as determined in accordance with GAAP and by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures in the tables attached to this press release.

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