DH Corp. (TSX:DH) says it enjoyed an 86 per cent increase in fourth-quarter net income as the business technology company reported "solid organic growth" in both Canada and the United States.
Toronto-based DH, formerly known as Davis + Henderson, said net earnings in the three months ended Dec. 31 were $32.4 million or 39 cents per share, up from $17.4 million or 22 cents in the comparable year-earlier period.
Adjusted net income was $49.1 million or 59 cents per share, up from $42 million or 52 cents per share.
Revenue climbed 15 per cent to $297.5 million from $259.1 million.
For the full year, the company posted net earnings of $106.5 million or $131 per share, up from $43.7 million or 65 cents per share as revenue rose to $1.14 billion from $837.1 million.
"We are pleased with our fourth-quarter and full-year financial results, which were driven by solid organic growth in both our Canadian and U.S. operations," chief executive Gerrard Schmid said in the company's earnings report, issued after markets closed.
"With a full-year contribution from the acquisition of Harland Financial Solutions and the integration behind us, we've made good progress on our journey to becoming a leading FinTech provider."
DH acquired the Florida-based business technology company in 2013 for US$1.2 billion.
Schmid said the company's U.S. business now generates 44 per cent of consolidated adjusted revenues.
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