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Monotype Announces Second Quarter 2013 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 second quarter ended June 30, 2013.

Second quarter 2013 highlights
  • Revenue was $41.1 million, a seven percent increase year over year.
  • Operating income was $12.2 million, or 30 percent of revenue.
  • Non-GAAP net adjusted EBITDA was $17.3 million, or 42 percent of revenue.
  • Cash flow from operations was a record $17.9 million.
  • Cash was $51.7 million as of June 30, 2013, with no debt outstanding.

“Our results show that Monotype is becoming an even more valued partner to creative professionals trying to solve the toughest responsive design challenges,” said Doug Shaw, president and chief executive officer. “Our solutions provide the freedom, flexibility and functionality required to streamline the creative workflow and deliver the best branded experiences.”

“During the quarter, we further strengthened our balance sheet, generating nearly $18 million in cash from operations. We paid off our remaining debt and ended the quarter with $51.7 million in cash. We remain aligned with our stated strategy of investing for growth, both organically and through acquisitions, while returning cash to our shareholders,” said Scott Landers, senior vice president and chief financial officer.

Second quarter 2013 operating results

Revenue for the quarter was $41.1 million, up seven percent compared to $38.5 million for the second quarter of 2012. OEM revenue was $26.4 million, a six percent increase from the second quarter of 2012. Creative Professional revenue was $14.7 million, a gain of eight percent from the same period in 2012.

Net income was $7.3 million, compared to $7.4 million in the second quarter of 2012. Earnings per diluted share were $0.18, compared to $0.19 in the same period in 2012.

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