DH Corp. sees Q3 profits soar to $32.2M; revenue grows 38% to 289.2M

TORONTO – DH Corporation (TSX:DH) has reported a big increase in both third-quarter revenue and earnings, reflecting what it says was both organic growth as well as growth from acquisitions.

The business technology company formerly known as Davis + Henderson says net income in the three months ended Sept. 30 was $32.2 million or 40 cents per share, up from $6.9 million or 10 cents per share in the same 2013 period.

DH, which provides cheque supply programs, technology solutions and business services to customers in the financial services industry, said revenue grew 38 per cent to $289.2 million from $209.2 million.

“We are pleased to report another solid quarter and nine months, reflecting continued growth from our acquisitions coupled with organic growth” CEO Gerrard Schmid said in an earnings release issued Monday after markets closed.

“Our strategic acquisitions, and notably the Harland Financial Solutions acquisition from just over a year ago, are now well integrated and instrumental in the execution of our strategy of geographic, product and revenue diversification and growth.”