Abacus Direct Posts 1Q Gains, Seals Pact With HNCAbacus Direct Corp., Broomfield, CO, reported profits of $2.27 million, or 22 cents per diluted share, in the first quarter ended March 31, up 34.3 percent over profits of $1.69 million, or 17 cents pr share, in the year-ago first quarter. Revenues for the period totaled $12.75 million, up 40.4 percent over revenues of $9.08 million a year ago.
The company, which maintains a database of catalog buying behavior and provides direct marketing services, said the increase in revenues was led by growth in its Housefile Scoring and Optimization divisions, which recorded sequential gains of 52-percent and 44 percent, respectively, compared with the fourth quarter of last year. Abacus also said it recruited 51 new consumer catalog titles to the Abacus Alliance, bringing the total number of catalogs in the database to 1,103.
The company also said it sealed a multi-year agreement with HNC Software Inc., San Diego, to increase its data-mining capabilities using HNC's Content Mining technology. In exchange, HNC will use prior purchasing data from Abacus to enhance its HNC Financial Solutions products, which are used by businesses in managing customer relationships.