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Monotype Announces Fourth Quarter And Full Year 2012 Results

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 fourth quarter and full year ended Dec. 31, 2012.

Fourth quarter 2012 highlights
  • Revenue for the quarter was a record $39.0 million, a 23 percent increase year-over-year.
  • Operating income was $12.0 million, an increase of 27 percent over 2011.
  • Non-GAAP net adjusted EBITDA increased 20 percent to $16.5 million, or 42 percent of revenue.
  • Cash flow from operations was $14.0 million, a 26 percent increase year-over-year.

Full year 2012 highlights

For the full year 2012, the company reported record financial results as follows:
  • Revenue was $149.9 million, an increase of 22 percent year-over-year.
  • Operating income was $46.5 million, an increase of 22 percent over 2011.
  • Non-GAAP net adjusted EBITDA increased 18 percent to $64.2 million, or 43 percent of revenue.
  • Cash flow from operations was $50.4 million an increase of 28 percent compared to 2011.

“Monotype had a very strong fourth quarter and full year, as a growing number of brands turned to us for the typefaces, technology and expertise they need to deliver high-quality user experiences,” said Doug Shaw, president and chief executive officer. “We strengthened our business in multiple areas, as we continued to diversify, expand our intellectual property, and invest in support of our long-term growth initiatives, all while delivering significant levels of profitability and cash flow.”

“We achieved record top-line results, while improving the visibility and predictability of our revenue streams. We continued to invest in the business, both organically and through acquisitions, and we instituted a quarterly dividend program,” said Scott Landers, senior vice president and chief financial officer. “We enter 2013 in the strongest financial, operational and market position in our history. With that confidence in mind, our board of directors has approved a 50 percent increase in our quarterly dividend.”

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