Monotype Sales Up 7%, Announces Partnership With Google
Oct 31st 2013 6:06PM
Updated Oct 31st 2013 6:08PM
Font technology specialist Monotype Image Holdings surged ahead in revenue this quarter. The company brought in $40.5 million in Q3, up 6.5% compared to $37.9 million in Q3 2012. The revenue boost was helped by a 20% gain in sales in its creative professional market, which markets, in CEO Douglas Shaw's words, "type-centric solutions that ensure brand integrity and creative expression."
While Monotype's revenue grew this quarter, its operating and net incomes declined. Income from operations dropped 6.1% from Q3 2012, to $11.7 million, and net income fell 11.5%, to $7 million.
Margins may be smaller, but Monotype's cash has increased significantly since this time last year. On its balance sheet, the company currently has $64.3 million to its name, compared to $39.3 million in Q3 2012.
Shaw is confident in Monotype's long-term growth potential. He said, it "has been reaffirmed with the announcement of a share repurchase program, which demonstrates our ongoing commitment to deliver value to shareholders." Monotype also has a new partnership with Google that will provide a version of Monotype's Typecase application on Google Fonts.
The article Monotype Sales Up 7%, Announces Partnership With Google originally appeared on Fool.com.Fool contributor Caroline Bennett has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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