8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

______________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): September 16, 2010

		HARLAND CLARKE HOLDINGS CORP.
		(Exact Name of Registrant as Specified in its Charter)
Delaware			333-143717	84-1696500
(State or Other Jurisdiction of Incorporation)			(Commission File  Number)	(IRS Employer Identification No.)
		2939 Miller Road, Decatur, Georgia 30035
		(Address of Principal Executive Offices) (Zip Code)
		(770) 981-9460
		(Registrant's Telephone Number, Including Area Code)
	(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition

On September 16, 2010, Harland Clarke Holdings Corp. (the “Company”) will be providing the information furnished as Exhibit 99.1 to this Report at the 2010 Credit Suisse Global Credit Products Conference.  The information furnished as Exhibit 99.1 to this Report is incorporated by reference in this Item 2.02.

Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 Information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HARLAND CLARKE HOLDINGS CORP.
By:	/s/ Martin Wexler
	Name:   Martin Wexler
	Title:     Vice President and Treasurer

Date:  September 16, 2010

3

INDEX TO EXHIBITS

Exhibit Number	Description
Exhibit 99.1	Information furnished pursuant to Item 2.02 of this Current Report on Form 8-K.

EX-99.1

2010 Credit Suisse

Global Credit Products Conference

September 16, 2010

2

Forward looking statements

Certain information in this presentation may be considered forward-looking
information within the definition of the Private Securities Litigation Reform
Act of 1995. This information is based on the Company's current expectations
and actual results could vary materially depending on risks and uncertainties
that may affect the Company's operations, markets, services, prices and
other factors as discussed in filings with the Securities and Exchange
Commission. These risks and uncertainties include, but are not limited to,
general and economic conditions and declines in the industries in which we
participate. There is no assurance that the Company's expectations will be
realized. All forward-looking statements speak only as of the date of this
presentation. All subsequent written and oral forward-looking statements
attributable to us or any person acting on our behalf are qualified by the
cautionary statements in this section. The Company assumes no obligation to
update any forward-looking information contained in this presentation.

3

Introductions

nOver 34 years of
experience in the financial
services and security
printing industry

nOver 17 years with Clarke
American / Harland
Clarke

nFormer Chief Executive
Officer of Rocky Mountain
Bank Note

nMarketing representative
for IBM out of graduate
school

Chuck Dawson

President & CEO,

Harland Clarke Holdings

n17 years of experience
with Harland Clarke,
Honeywell, and GE in
various financial and
operations leadership
roles

nOver 5 years with Clarke
American / Harland
Clarke

nFormer Chief Financial
Officer of Honeywell’s
Aircraft Landing Systems
business

Peter Fera

EVP & CFO,

Harland Clarke Holdings

4

World class

operations

Leading

presence

Diversified,

blue-chip

client portfolio

nA leading provider of checks and related products, marketing services, and customized
business and home office products

nA leading provider of software and services to financial institutions

nA leading provider of education related products and survey technologies

n$1.7 billion in combined revenues for LTM Q2 2010

nOver 11,000 financial institutions clients such as:

nHarland Clarke: 5 contact centers and 12 plants, supported by a national sales organization

nHarland Financial Solutions:17 fully networked facilities focused on customer support and
enhancement of software solutions

nScantron: 6 facilities, which include manufacturing, technology and services

n2001 Malcolm Baldrige National Quality Award winner

Strong, long-

term client

relationships

nTrusted, integrated relationships with clients

nProvider of mission-critical software products

nStrong partnerships with long-term contracts

Harland Clarke Holdings

5

Who we are

nChecks and related products

nMarketing Services

nBusiness and home office
products

nFinancial and business forms

nCore processing systems

nInternet and mobile banking
applications

nRisk management solutions

nBranch automation solutions

nLending origination and
compliance

nWeb-based assessment
products

nStudent Achievement
Management solutions

nResponse to Intervention
products

nSurvey Services

nScanners and forms

Revenues(1) $1.2B

Revenues(1) $280M

Revenues(1) $203M

(1) LTM Q2 2010; revenues are adjusted to add back acquisition accounting fair value adjustments of deferred revenue.

6

Diversified business and product lines

§Combined business has four major product lines

–Checks and office products

–Software and related services

–Direct marketing services

–Data collection, testing and survey solutions

$1.7 billion

LTM Q2 2010 Revenue

Revenue for Non-Check Products

Continued success diversifying product lines

7

Diversified and expanded client relationships

Approximately 80% of revenue is under long-term contracts

Direct to Consumer
and Commercial

Financial Institutions

Education

8

Strong history of cost reductions and margin expansion

History of continuous improvement

nDemonstrated track-record of margin
improvement

nMargin expansion of 4.4 points since 2008

n16 facility closures since the start of 2007

nExceeded synergy target of $112.6M from
the John H. Harland acquisition

(1) See page 16 for the calculation of and reconciliation of net income to adjusted EBITDA

9

nA leading provider of checks and office
products and marketing and contact
center services

–11,000 financial and commercial institution
clients

–More than 80% of revenues under long-term
contract

nDiverse product and service offerings

–Personal and business checks

–Marketing services including database
marketing, eMarketing, creative
development, and strategic services

–Contact center services

–Financial and business forms

–Deposit products including deposit tickets,
security bags, cash straps, coin wraps

–Address labels, self-inking stamps,
checkbook covers, registers

–Card services

10

Harland Clarke financial performance

$ in millions

Margin26.4%26.3%29.7%30.9%

Revenue(1)

Adjusted EBITDA

Reconciliation to Adjusted EBITDA

$ in millions

(1) Revenue is adjusted to add back acquisition accounting fair value adjustments of deferred revenue.

2007

2008

2009

LTM Q2 2010

Operating income

181.1

$

217.1

$

195.8

$

224.5

$

D&A

98.2

112.5

109.3

107.3

Restructuring

5.6

8.3

25.7

10.6

Asset impairment charges

3.1

1.5

33.4

34.0

Impact of acquisition accounting adjustments

1.9

-

-

0.5

Transaction related expenses

2.4

-

-

-

Adjusted EBITDA

292.3

$

339.4

$

364.2

$

376.9

$

11

nA leading supplier of software and services
to financial institutions

–Core processing systems

–Internet and mobile banking applications

–Risk management solutions

–Branch automation solutions

–Lending origination and compliance

nHigh switching costs associated with
switching integrated software providers

nSell to approximately 37% of all financial
institutions in the United States

nTop 25 customers < 10% of revenue

nRecurring revenues of more than 75%

Customer Mix

Strong recurring revenue base

12

HFS financial performance

$ in millions

Revenue(1)

Adjusted EBITDA

Reconciliation to Adjusted EBITDA

$ in millions

(1) Revenue is adjusted to add back acquisition accounting fair value adjustments of deferred revenue.

2007

2008

2009

LTM Q2 2010

Operating income

16.8

$

34.1

$

32.8

$

37.0

$

D&A

17.3

28.7

26.9

27.6

Restructuring

-

3.9

3.8

1.0

Asset impairment charges

-

-

10.6

10.6

Deferred purchase price compensation

3.4

8.1

3.5

2.2

Impact of acquisition accounting adjustments

9.6

1.4

0.2

0.1

Adjusted EBITDA

47.1

$

76.2

$

77.8

$

78.5

$

Web-based Education Technology,

School Forms and Testing

13

nStrong brand recognition

–A leading testing provider for over 40 years

nLeading provider of web-based education
technology products

–Student Achievement Management solutions

–Response to Intervention products

–Special education software solutions

–Web-based assessment products

nLeading provider of scanners and forms

–Provide patent protected scanner to school

–Sales of forms create annuity-like revenue
stream

–Diverse client base - education, commercial,
government

nLarge installed base

–80% of the largest school districts

–65,000+ scanning machines

nCustomer diversification

–100,000+ accounts

–Largest account approximately 5% of
revenue

nFocus on being a leading provider of
enterprise-wide testing and surveying
technology

Surveys, Forms, and Processing

14

Scantron financial performance

$ in millions

Revenue(1)

Adjusted EBITDA

Reconciliation to Adjusted EBITDA

$ in millions

(1) Revenue is adjusted to add back acquisition accounting fair value adjustments of deferred revenue.

2007

2008

2009

LTM Q2 2010

Operating income

12.4

$

28.4

$

34.5

$

32.1

$

D&A

10.6

23.3

25.9

25.9

Restructuring

-

2.4

3.0

6.4

Asset impairment charges

-

-

0.2

0.2

Impact of acquisition accounting adjustments

5.1

1.6

0.2

0.1

Adjusted EBITDA

28.1

$

55.7

$

63.8

$

64.7

$

15

Harland Clarke Holdings financial highlights

nStrong historical financial performance

nHigh EBITDA margins

nLow working capital requirements

nEfficient deployment of capital

nSignificant cash flow generation

16

Harland Clarke Holdings financial performance

Revenue(1)

Adjusted EBITDA

Reconciliation to Adjusted EBITDA

$ in millions

$ in millions

(1) Revenue is adjusted to add back acquisition accounting fair value adjustments of deferred revenue minus revenue from inter-segment transactions.

2007

2008

2009

LTM Q2 2010

Net income (loss)

(15.4)

$

47.2

$

112.1

$

97.4

$

Interest expense, net

159.9

184.2

135.9

122.6

Provision (benefit) for income taxes

(5.4)

33.0

67.4

64.0

D&A

126.2

164.5

162.1

160.8

Restructuring

5.6

14.6

32.5

18.0

Deferred purchase price compensation

3.4

8.1

3.5

2.2

Asset impairment charges

3.1

1.5

44.2

44.8

(Gain) / loss on early extinguishment of debt

54.6

-

(65.0)

(3.5)

Impact of acquisition accounting adjustments

16.6

3.0

0.4

0.7

Transaction related expenses

2.4

-

-

-

Adjusted EBITDA

351.0

$

456.1

$

493.1

$

507.0

$

17

Harland Clarke Holdings credit strength

nLTM Q2 2010 cash flow from operations$ 261.9 million

nLTM Q2 2010 adjusted EBITDA$ 507.0 million

nCash/equivalents on hand(1)$ 206.6 million

nNet debt(2) $ 2,022.3 million

nNet debt / LTM Q2 2010 adjusted EBITDA4.0x

nLTM Q2 2010 adjusted EBITDA / Net interest(3)4.1x

(1) As of June 30, 2010

(2) Net debt equals total debt of $2,228.9 million less cash and equivalents as of June 30, 2010

(3) Netinterest expense of $122.6 million for the LTM Q2 2010