November 27, 2014 5:02 AM ET

Commercial Services and Supplies

Company Overview of Harland Clarke Corp.

Company Overview

Harland Clarke Corp. provides integrated payment solutions and marketing services. Its payment solutions include personal checks and accessories, fully managed business check programs, card services, financial forms and services, commercial treasury solutions, merger and acquisition services, business checks and accessories, delivery and anti-fraud programs, check fraud reimbursements, forms for financial institutions, cash management products, and Internet and contact center services. The company’s marketing services comprise integrated marketing, financial services marketing solutions, contact center, analytics, mystery shopping, digital and marketing solutions. Its customers include retai...

10931 Laureate Drive

San Antonio, TX 78249

United States

Founded in 1923

5,360 Employees

Phone:

210-697-8888

Fax:

210-558-5247

Key Executives for Harland Clarke Corp.

Chief Executive Officer and President
Senior Vice President of Finance
Senior Vice President of Operations
Chief Executive Officer of Scantron
Age: 56
Senior Vice President and President of Retail Channels
Compensation as of Fiscal Year 2014.

Harland Clarke Corp. Key Developments

Travelers Property Casualty Co Files Suit over Harland Clarke, Ezshield and Checks in the Mail Inc. for Insured's Unauthorized Settlement

Travelers Property Casualty Co. filed a complaint for a declaratory judgment that it is not required to indemnify an underlying settlement its insured entered into without its consent. According to the lawsuit, Travelers issued a commercial general liability policy to Harland Clarke Corp. Harland Clarke became the defendant in an underlying case filed by EZShield. EZShield's lawsuit alleged Harland Clarke used confidential and proprietary information acquired when the two companies had a business relationship to develop its own check fraud prevention program. Travelers alleges that Harland Clarke subsequently agreed to settle that case without contacting Travelers first. The suit alleges Travelers is not liable for the settlement that Harland Clarke agreed to pay. The lawsuit names Harland Clarke, EZShield and Checks in the Mail Inc. as defendants.

Harland Clarke Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Harland Clarke announced unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported total net revenues of $303.8 million against $286.7 million a year ago. Operating income was $62.5 million against $56.6 million a year ago. Adjusted EBITDA was $90.5 million against $93.0 million a year ago. EBITDA was $93.8 million against $93.8 million a year ago. For the nine months, the company reported total net revenues of $874.7 million against $866.4 million a year ago. Operating income was $192.7 million against $151.8 million a year ago. Adjusted EBITDA was $271.2 million against $256.5 million a year ago. EBITDA was $285.2 million against $262.3 million a year ago.

Harland Clarke Corp. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012

Harland Clarke Corp. announced unaudited earnings results for the fourth quarter and full year ended December 31, 2012. For the year, the company reported net revenues of $276.2 million against $291.8 million a year ago. Operating income was $62.2 million against $56.4 million a year ago. The decrease in net Revenue was primarily due to volume declines, net of client additions and losses, in check and related products that reduced net revenues by $24.8 million. The increase in operating income was primarily due to an increase in revenues per unit and cost reductions from actions predominantly implemented in the third and fourth quarters of 2012 and a decrease in restructuring charges of $2.1 million. For the year, the company reported net revenues of $1,142.6 million against $1,144.5 million a year ago. Operating income was $214.0 million against $242.2 million a year ago. Loss before income taxes was $54.4 million against income before income taxes $60.7 million a year ago. The decrease in net Revenue was primarily due to volume declines, net of client additions and losses, in check and related products that reduced net revenues by $55.2 million. decrease in operating income was primarily due to net charges for non-cash fair value adjustments related to the MacAndrews Acquisition that reduced operating income by $33.7 million, including a $55.7 million increase in depreciation and amortization partially offset by a $22.0 million benefit for other non-cash adjustments, as compared to non-cash fair value adjustments related to the MacAndrews Acquisition that reduced operating income by $6.1 million in 2011.

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