Monotype Imaging swings to profit
Monotype Imaging Holdings Inc, a provider of fonts and imaging software, said today that it swung to a fourth-quarter profit on rising sales and an accounting charge in last year's quarter.
The company, which is based in Woburn, reported earnings after preferred dividends of $4 million, or 11 cents per share, compared with a loss of $7.3 million, or $2.77 per share in the prior year.
Per-share results were adjusted to account for a 4-for-1 stock split in July.
Monotype, which had its initial public offering in July, also said its year-ago results were lowered by $9.9 million to account for the addition of convertible redeemable preferred stock. The stock was converted to common and redeemable preferred shares, with the preferred stock redeemed in connection with the IPO.
Sales for the period ended Dec. 31 rose to $27.5 million, up 8 percent from $25.4 million a year earlier.
Monotype's annual loss after preferred dividends widened to $25 million, or $1.55 per share, from $17.3 million, or $7.37 per share.
Full-year revenue gained 22 percent to $105.2 million from $86.2 million. (AP)
