M&F Worldwide Income Surges

M&F Worldwide Corp. posted net income of $20.1 million for the third quarter, a surge over net income of $10.1 million in the prior year.

The direct marketing services firm reported net revenue of $482.3 million for the quarter ended Sept. 30, a $25.4 million increase over $456.9 million last year.

Management attributed these results in part to the firm’s purchase of Data Management Acquisition.

The New York company’s Harland Clarke segment posted net revenue of $322.7 million for the quarter, a $9.7 million decrease from $322.7 million in the prior year.

Management attributed this partly to decreased unit volume.

The unit reported operating income of $57 million for the quarter, a $1.6 million increase over $55.4 million in the prior year.

The company attributed these results largely to labor cost reductions and the extra production day, partially offset by lower volumes and increases in delivery expenses.