NEW YORK (AFX) - M&F Worldwide Corp., whose units make licorice and provide check-related services to financial institutions, said Friday its second-quarter profit grew by a third, aided by acquisitions.
Quarterly net income rose to $8 million, or 40 cents per share, from $6 million, or 30 cents per share. Revenue jumped to $182.2 million from $25.3 million.
The quarter benefited from M&F's December acquisition of Clarke American. The financial unit provides checks, check-related products and direct marketing services.
Clarke American added $3.9 million in earnings during the quarter, which offset increased interest expense incurred because of the acquisition. It also boosted revenue by $156.9 million.
M&F shares closed down 10 cents at $17.49 on the New York Stock Exchange.
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