Information technology distributor Hartco has net profit of $900,000 for Q2

MONTREAL – Information technology distributor Hartco Inc. (TSX:HCI) reported net earnings of $900,000 for its second quarter and has put into place some cost cutting to improve its profitability.

Net earnings in the same period last year were $743,000.

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“We experienced encouraging revenue trends during the second quarter of 2011, particularly in the commercial segment” chief executive Pat Waid said in a news release on Thursday.

“Several cost reduction initiatives have been implemented with the goal of improving our profitability,” Waid said.

Hartco said investments in sales resources and information systems which are expected to contribute to improved results in 2012.

Revenues were up slightly to $115.5 million compared with $114.3 million a year ago. Earnings per diluted share were six cents compared with five cents.