In a recent filing with the Securities and Exchange Commission, Harte Hanks Inc. (NASDAQ:HHS), a company specializing in direct mail advertising services, announced a change in its independent registered public accounting firm. As of Monday, the firm's Audit Committee approved the appointment of Wolf & Company, P.C. as its new auditor, contingent on standard client acceptance procedures.
The decision follows the dismissal of Baker Tilly US LLP, which had served as the company's auditor until the same date. According to the filing, Baker Tilly's (NYSE:TLYS) reports on Harte Hanks' financial statements for the years ending December 31, 2022, and 2023, did not contain any adverse opinions or modifications related to audit scope or accounting principles.
Furthermore, there were no disagreements or reportable events between Harte Hanks and Baker Tilly during the fiscal years mentioned and the subsequent interim period through August 20, 2024. These terms are defined in the SEC's regulations and indicate significant disputes over financial disclosures or accounting practices that, if unresolved, would be mentioned in the auditor's report.
In other recent news, Harte Hanks reported a 3.5% decline in Q1 2024 same-store revenue, marking an improvement over the last five quarters.
The company also announced a strategic partnership with Outreach, a sales execution platform, aiming to enhance customer relationship management and end-user experiences. The collaboration will integrate Outreach's platform into Harte Hanks' new product, Demand Generation in a Box, to bolster clients' sales processes.
In other recent developments, Harte Hanks appointed Sharona Sankar-King as Chief Customer and Data Officer, a move aimed at strengthening its data analytics and customer engagement capabilities. Sankar-King, formerly of Bain & Company, will join the senior leadership team in New York.
Furthermore, Harte Hanks' Elevate program, in collaboration with Amazon (NASDAQ:AMZN) Web Services, is enhancing AI and machine learning capabilities, particularly in customer care.
The company is also making a strategic push into the European market and the SMB segment, with early successes noted in the Fulfillment & Logistics and Customer Care segments. Harte Hanks maintains cash reserves of $11.5 million and carries no debt, indicating a stable financial position.
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