GlyphHanger converts text, plain or stylized and input by the user into the main text box, into a TIF-formatted image that it then copies to the pasteboard.
From there, this image can then be pasted into Preview, whence it can be saved to any one of a number of other image formats.
It can also be pasted into a word processing document in Pages, for instance, or into other applications that can read TIF data.
One of GlyphHanger's important features is that images are copied antialiased and with alpha transparency.
This makes it much easier to integrate captured text into a logo than it would be with a screenshot. No lasso tool required!