Reuters: Global Markets: Harte-Hanks shares slip on estimated second-quarter loss, charge

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Harte-Hanks shares slip on estimated second-quarter loss, charge Jul 18th 2012, 17:14 Wed Jul 18, 2012 1:14pm EDT (Reuters) - Shares of Harte-Hanks Inc (HHS.N) fell 20 percent after the marketing services provider estimated a second-quarter loss as it was hit by an impairment charge related to its Shoppers business. The stock was down 17 percent at $7.70 on Wednesday afternoon, making it one of the top percentage losers on the New York Stock Exchange. The company estimates its second-quarter loss to be between $1.50 and $1.93 per share. This is first time since 1993 that the company will post a quarterly loss. "Because the estimated fair value of Shoppers was less than its related carrying value of $177 million, management determined that the goodwill balance with respect to this reporting unit was impaired," the company said in a statement on Tuesday. Harte-Hanks has incurred a non-cash pre-tax charge of $150 million to $177 million in the second quarter related to the impairment. On Tuesday, the company also estimated adjusted second-quarter earnings of 10 cents to 12 cents per share, below analysts expectations of 16 cents per share, according to Thomson Reuters I/B/E/S. [ID:nASA04HGD]

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