Attached files
For more information, contact:
Katharine Boyce
Acxiom Investor Relations
501-342-1321
investor.relations@acxiom.com
EACXM
ACXIOM ANNOUNCES FIRST QUARTER FISCAL YEAR 2012 RESULTS
LITTLE ROCK, Ark. – July 27, 2011 — Acxiom® Corporation (Nasdaq: ACXM), a recognized leader in marketing services and technology, today announced financial results for the first quarter of fiscal year 2012 ended June 30, 2011. Acxiom will hold a conference call at 9:00 a.m. CDT today to further discuss this information. Interested parties are invited to listen to the call, which will be broadcast via the Internet at www.acxiom.com.
Jerry Gramaglia, Acxiom’s interim chief executive officer, said, "We achieved overall solid financial performance for the quarter and are pleased with our continued revenue growth, especially in our core U.S. marketing services and products business. During the quarter we increased spending in sales, account management and service delivery to continue our momentum and position Acxiom for strong performance through the balance of the year."
First Quarter 2012 Highlights:
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·
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Revenue increased by 6.9% in the current quarter ended June 30, 2011 to $288.9 million, compared to $270.4 million for the quarter ended June 30, 2010.
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·
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Income from operations of $22.2 million in the current-year first quarter, compared to income from operations of $22.1 million in the first quarter of the prior year.
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·
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Earnings per diluted share attributable to Acxiom stockholders of $0.13 in the current quarter, compared to earnings per share of $0.12 in the first quarter of fiscal 2011.
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·
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Operating cash flow of $32.8 million, compared to $17.0 million in the first quarter a year ago.
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·
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Free cash flow available to equity of $9.6 million, compared to negative $6.3 million in the first quarter a year ago. Free cash flow available to equity is a non-GAAP financial measure; a reconciliation to the comparable GAAP measure, operating cash flow, is attached to this news release.
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Operational Highlights:
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·
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Information Services: Revenue for the quarter ended June 30, 2011 was $225.6 million, up 7.1%, compared to $210.7 million for the quarter ended June 30, 2010. Income from operations for the current first quarter was $20.2 million, down 3.4% compared to $20.9 million in the prior-year first quarter.
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1
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·
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Information Products: Revenue for the quarter increased 6.0% to $63.3 million, compared with $59.7 million in the first quarter a year ago. Income from operations for the quarter was $2.3 million, compared to $1.1 million in the first quarter of the previous year.
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·
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Debt prepayment: The company prepaid $25 million of its term loan due March 15, 2015 in the current quarter. Subsequent to the end of the June 30, 2011 quarter, the company prepaid an additional $75 million of the term loan.
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·
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Middle East and North Africa (MENA) disposal: Subsequent to the end of the June 30, 2011 quarter, the company disposed of its ownership interest in MENA.
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Web Link to Financials
You may link to http://www.acxiom.com/FY12_Q1_Financials for the detailed financial information we typically attach to our earnings releases.
About Acxiom
Acxiom is a recognized leader in marketing services and technology that enable marketers to successfully manage audiences, personalize consumer experiences and create profitable customer relationships. Our superior industry-focused, consultative approach combines consumer data and analytics, databases, data integration and consulting solutions for personalized, multichannel marketing strategies. Acxiom leverages over 40 years of experience in data management to deliver high-performance, highly secure, reliable information management services. Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas, USA, and serves clients around the world from locations in the United States, Europe, Asia-Pacific, and South America. For more information about Acxiom, visit Acxiom.com.
Forward Looking Statements
This release and today’s conference call may contain forward-looking statements including, without limitation, statements regarding our expectation for strong performance for the balance of the year. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially. The following are factors, among others, that could cause actual results to differ materially from these forward-looking statements: the possibility that certain contracts may not generate the anticipated revenue or profitability or may not be closed within the anticipated time frames; the possibility that significant customers may experience extreme, severe economic difficulty or otherwise reduce the amount of business they do with us; the possibility that we will not successfully complete customer contract requirements on time or meet the service levels specified in the contracts, which may result in contract penalties or lost revenue; the possibility that data suppliers might withdraw data from us, leading to our inability to provide certain products and services to our clients, which could lead to decreases in our operating results; the possibility that we may not be able to attract, retain or motivate qualified technical, sales and leadership associates, or that we may lose key associates; the possibility that we may be unable to quickly and seamlessly integrate a new chief executive officer and chief financial officer; the possibility that we will not be able to continue to receive credit upon satisfactory terms and conditions; the possibility that negative changes in economic conditions in general or other conditions might lead to a reduction in demand for our products and services; the possibility that there will be changes in consumer or
2
business information industries and markets that negatively impact the company; the possibility that the historical seasonality of our business may change; the possibility that we will not be able to achieve cost reductions and avoid unanticipated costs; the possibility that the fair value of certain of our assets may not be equal to the carrying value of those assets now or in future time periods; the possibility that changes in accounting pronouncements may occur and may impact these forward-looking statements; the possibility that we may encounter difficulties when entering new markets or industries; the possibility that we could experience loss of data center capacity or interruption of telecommunication links; and other risks and uncertainties, including those detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including our current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K, particularly the discussion under the caption “Item 1A, RISK FACTORS” in our Annual Reports on Form 10-K for the year ended March 31, 2011, which was filed with the Securities and Exchange Commission on May 27, 2011.
With respect to the provision of products or services outside our primary base of operations in the United States, all of the above factors apply, along with the difficulty of doing business in numerous sovereign jurisdictions due to differences in scale, competition, culture, laws and regulations.
We undertake no obligation to update the information contained in this press release or any other forward-looking statement.
Acxiom is a registered trademark of Acxiom Corporation.
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ACXIOM CORPORATION AND SUBSIDIARIES
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CONSOLIDATED STATEMENTS OF OPERATIONS
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||||||||||||||||
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(Unaudited)
|
||||||||||||||||
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(Dollars in thousands, except earnings per share)
|
||||||||||||||||
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For the Three Months Ended
|
||||||||||||||||
|
June 30,
|
||||||||||||||||
| $ | % | |||||||||||||||
|
2011
|
2010
|
Variance
|
Variance
|
|||||||||||||
|
Revenue:
|
||||||||||||||||
|
Services
|
225,604 | 210,656 | 14,948 | 7.1 | % | |||||||||||
|
Products
|
63,330 | 59,739 | 3,591 | 6.0 | % | |||||||||||
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Total revenue
|
288,934 | 270,395 | 18,539 | 6.9 | % | |||||||||||
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Operating costs and expenses:
|
||||||||||||||||
|
Cost of revenue
|
||||||||||||||||
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Services
|
180,463 | 164,650 | (15,813 | ) | (9.6 | %) | ||||||||||
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Products
|
48,878 | 45,771 | (3,107 | ) | (6.8 | %) | ||||||||||
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Total cost of revenue
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229,341 | 210,421 | (18,920 | ) | (9.0 | %) | ||||||||||
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Services gross margin
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20.0 | % | 21.8 | % | ||||||||||||
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Products gross margin
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22.8 | % | 23.4 | % | ||||||||||||
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Total gross margin
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20.6 | % | 22.2 | % | ||||||||||||
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Selling, general and administrative
|
37,119 | 37,955 | 836 | 2.2 | % | |||||||||||
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Gains, losses and other items, net
|
244 | (57 | ) | (301 | ) | (528.1 | %) | |||||||||
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Total operating costs and expenses
|
266,704 | 248,319 | (18,385 | ) | (7.4 | %) | ||||||||||
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Income from operations
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22,230 | 22,076 | 154 | 0.7 | % | |||||||||||
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Other income (expense):
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||||||||||||||||
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Interest expense
|
(5,455 | ) | (5,898 | ) | 443 | 7.5 | % | |||||||||
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Other, net
|
(87 | ) | (451 | ) | 364 | 80.7 | % | |||||||||
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Total other income (expense)
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(5,542 | ) | (6,349 | ) | 807 | 12.7 | % | |||||||||
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Earnings before income taxes
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16,688 | 15,727 | 961 | 6.1 | % | |||||||||||
|
Income taxes
|
6,673 | 6,291 | (382 | ) | (6.1 | %) | ||||||||||
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Net earnings
|
10,015 | 9,436 | 579 | 6.1 | % | |||||||||||
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Less: Net earnings (loss) attributable to noncontrolling interest
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(960 | ) | (369 | ) | (591 | ) | - | |||||||||
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Net earnings attributable to Acxiom
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10,975 | 9,805 | 1,170 | 11.9 | % | |||||||||||
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Earnings per share:
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||||||||||||||||
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Basic
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0.12 | 0.12 | 0.00 | 0.0 | % | |||||||||||
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Diluted
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0.12 | 0.12 | 0.00 | 0.0 | % | |||||||||||
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Earnings per share attributable to Acxiom stockholders:
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||||||||||||||||
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Basic
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0.14 | 0.12 | 0.02 | 16.7 | % | |||||||||||
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Diluted
|
0.13 | 0.12 | 0.01 | 8.3 | % | |||||||||||
4
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ACXIOM CORPORATION AND SUBSIDIARIES
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CALCULATION OF EARNINGS PER SHARE
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||||||||
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(Unaudited)
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||||||||
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(In thousands, except earnings per share)
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||||||||
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For the Three Months Ended
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June 30,
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June 30,
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|||||||
|
2011
|
2010
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Basic earnings per share:
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||||||||
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Numerator - net earnings
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10,015 | 9,436 | ||||||
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Denominator - weighted-average shares outstanding
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80,942 | 79,741 | ||||||
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Basic earnings per share
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0.12 | 0.12 | ||||||
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Diluted earnings per share:
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||||||||
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Numerator - net earnings
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10,015 | 9,436 | ||||||
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Denominator - weighted-average shares outstanding
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80,942 | 79,741 | ||||||
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Dilutive effect of common stock options, warrants and restricted stock
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1,072 | 1,715 | ||||||
| 82,014 | 81,456 | |||||||
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Diluted earnings per share
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0.12 | 0.12 | ||||||
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Basic earnings per share attributable to Acxiom stockholders:
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||||||||
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Numerator - net earnings attributable to Acxiom
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10,975 | 9,805 | ||||||
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Denominator - weighted-average shares outstanding
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80,942 | 79,741 | ||||||
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Basic earnings per share attributable to Acxiom stockholders
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0.14 | 0.12 | ||||||
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Diluted earnings per share attributable to Acxiom stockholders:
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||||||||
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Numerator - net earnings attributable to Acxiom
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10,975 | 9,805 | ||||||
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Denominator - weighted-average shares outstanding
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80,942 | 79,741 | ||||||
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Dilutive effect of common stock options, warrants, and restricted stock
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1,072 | 1,715 | ||||||
| 82,014 | 81,456 | |||||||
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Diluted earnings per share attributable to Acxiom stockholders
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0.13 | 0.12 | ||||||
5
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ACXIOM CORPORATION AND SUBSIDIARIES
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RESULTS BY SEGMENT
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(Unaudited)
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||||||||
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(Dollars in thousands)
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||||||||
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For the Three Months Ended
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June 30,
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June 30,
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|||||||
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Revenue:
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2011
|
2010
|
||||||
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Information services
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225,604 | 210,656 | ||||||
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Information products
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63,330 | 59,739 | ||||||
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Total revenue
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288,934 | 270,395 | ||||||
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Income from operations:
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||||||||
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Information services
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20,172 | 20,879 | ||||||
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Information products
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2,302 | 1,140 | ||||||
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Other
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(244 | ) | 57 | |||||
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Total income from operations
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22,230 | 22,076 | ||||||
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Margin:
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||||||||
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Information services
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8.9 | % | 9.9 | % | ||||
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Information products
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3.6 | % | 1.9 | % | ||||
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Total margin
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7.7 | % | 8.2 | % | ||||
6
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ACXIOM CORPORATION AND SUBSIDIARIES
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CONDENSED CONSOLIDATED BALANCE SHEETS
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||||||||||||||||
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(Unaudited)
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||||||||||||||||
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(Dollars in thousands)
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||||||||||||||||
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June 30,
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March 31,
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$ | % | |||||||||||||
|
2011
|
2011
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Variance
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Variance
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|||||||||||||
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Assets
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||||||||||||||||
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Current assets:
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||||||||||||||||
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Cash and cash equivalents
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191,094 | 207,023 | (15,929 | ) | (7.7 | %) | ||||||||||
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Trade accounts receivable, net
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180,610 | 176,654 | 3,956 | 2.2 | % | |||||||||||
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Deferred income taxes
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12,773 | 12,480 | 293 | 2.3 | % | |||||||||||
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Refundable income taxes
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1,900 | 7,402 | (5,502 | ) | (74.3 | %) | ||||||||||
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Other current assets
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64,156 | 55,691 | 8,465 | 15.2 | % | |||||||||||
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Total current assets
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450,533 | 459,250 | (8,717 | ) | (1.9 | %) | ||||||||||
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Property and equipment
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899,047 | 888,717 | 10,330 | 1.2 | % | |||||||||||
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Less - accumulated depreciation and amortization
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643,618 | 633,410 | 10,208 | 1.6 | % | |||||||||||
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Property and equipment, net
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255,429 | 255,307 | 122 | 0.0 | % | |||||||||||
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Software, net of accumulated amortization
|
22,896 | 26,412 | (3,516 | ) | (13.3 | %) | ||||||||||
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Goodwill
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418,988 | 417,654 | 1,334 | 0.3 | % | |||||||||||
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Purchased software licenses, net of accumulated amortization
|
36,067 | 38,583 | (2,516 | ) | (6.5 | %) | ||||||||||
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Deferred costs, net
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75,757 | 81,837 | (6,080 | ) | (7.4 | %) | ||||||||||
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Data acquisition costs
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16,976 | 17,627 | (651 | ) | (3.7 | %) | ||||||||||
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Other assets, net
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8,579 | 9,955 | (1,376 | ) | (13.8 | %) | ||||||||||
| 1,285,225 | 1,306,625 | (21,400 | ) | (1.6 | %) | |||||||||||
|
Liabilities and Stockholders' Equity
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||||||||||||||||
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Current liabilities:
|
||||||||||||||||
|
Current installments of long-term debt
|
28,112 | 27,978 | (134 | ) | (0.5 | %) | ||||||||||
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Trade accounts payable
|
28,999 | 27,507 | (1,492 | ) | (5.4 | %) | ||||||||||
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Accrued payroll and related expenses
|
30,893 | 42,236 | 11,343 | 26.9 | % | |||||||||||
|
Other accrued expenses
|
76,831 | 75,852 | (979 | ) | (1.3 | %) | ||||||||||
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Deferred revenue
|
57,426 | 55,921 | (1,505 | ) | (2.7 | %) | ||||||||||
|
Total current liabilities
|
222,261 | 229,494 | 7,233 | 3.2 | % | |||||||||||
|
Long-term debt
|
365,565 | 394,260 | 28,695 | 7.3 | % | |||||||||||
|
Deferred income taxes
|
84,446 | 84,360 | (86 | ) | (0.1 | %) | ||||||||||
|
Other liabilities
|
6,505 | 7,478 | 973 | 13.0 | % | |||||||||||
|
Stockholders' equity:
|
||||||||||||||||
|
Common stock
|
11,879 | 11,777 | 102 | 0.9 | % | |||||||||||
|
Additional paid-in capital
|
842,655 | 837,439 | 5,216 | 0.6 | % | |||||||||||
|
Retained earnings
|
470,071 | 459,096 | 10,975 | 2.4 | % | |||||||||||
|
Accumulated other comprehensive income (loss)
|
18,997 | 15,991 | 3,006 | 18.8 | % | |||||||||||
|
Treasury stock, at cost
|
(742,049 | ) | (739,125 | ) | (2,924 | ) | 0.4 | % | ||||||||
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Total Acxiom stockholders' equity
|
601,553 | 585,178 | 16,375 | 2.8 | % | |||||||||||
|
Noncontrolling interest
|
4,895 | 5,855 | (960 | ) | (16.4 | %) | ||||||||||
|
Total equity
|
606,448 | 591,033 | 15,415 | 2.6 | % | |||||||||||
| 1,285,225 | 1,306,625 | (21,400 | ) | (1.6 | %) | |||||||||||
7
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ACXIOM CORPORATION AND SUBSIDIARIES
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||||||||
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
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||||||||
|
(Unaudited)
|
||||||||
|
(Dollars in thousands)
|
||||||||
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For the Three Months Ended
|
||||||||
|
June 30,
|
||||||||
|
2011
|
2010
|
|||||||
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Cash flows from operating activities:
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||||||||
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Net earnings
|
10,015 | 9,436 | ||||||
|
Non-cash operating activities:
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||||||||
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Depreciation and amortization
|
35,295 | 35,986 | ||||||
|
Deferred income taxes
|
37 | 1,435 | ||||||
|
Non-cash stock compensation expense
|
2,355 | 2,972 | ||||||
|
Changes in operating assets and liabilities:
|
||||||||
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Accounts receivable
|
(3,622 | ) | (16,836 | ) | ||||
|
Other assets
|
(8,517 | ) | (1,467 | ) | ||||
|
Deferred costs
|
(386 | ) | (9,981 | ) | ||||
|
Accounts payable and other liabilities
|
(3,674 | ) | (7,121 | ) | ||||
|
Deferred revenue
|
1,251 | 2,564 | ||||||
|
Net cash provided by operating activities
|
32,754 | 16,988 | ||||||
|
Cash flows from investing activities:
|
||||||||
|
Capitalized software
|
(529 | ) | (1,226 | ) | ||||
|
Capital expenditures
|
(12,577 | ) | (8,752 | ) | ||||
|
Data acquisition costs
|
(2,776 | ) | (4,326 | ) | ||||
|
Payment received from investments
|
- | 175 | ||||||
|
Net cash paid in acquisitions
|
(255 | ) | (1,978 | ) | ||||
|
Net cash used by investing activities
|
(16,137 | ) | (16,107 | ) | ||||
|
Cash flows from financing activities:
|
||||||||
|
Payments of debt
|
(32,312 | ) | (8,964 | ) | ||||
|
Sale of common stock
|
39 | 3,801 | ||||||
|
Contingent consideration paid for prior acquisitions
|
(326 | ) | - | |||||
|
Net cash used by financing activities
|
(32,599 | ) | (5,163 | ) | ||||
|
Effect of exchange rate changes on cash
|
53 | (1,365 | ) | |||||
|
Net change in cash and cash equivalents
|
(15,929 | ) | (5,647 | ) | ||||
|
Cash and cash equivalents at beginning of period
|
207,023 | 224,104 | ||||||
|
Cash and cash equivalents at end of period
|
191,094 | 218,457 | ||||||
|
Supplemental cash flow information:
|
||||||||
|
Cash paid (received) during the period for:
|
||||||||
|
Interest
|
5,589 | 5,780 | ||||||
|
Income taxes
|
1,098 | 3,358 | ||||||
|
Payments on capital leases and installment payment arrangements
|
4,794 | 5,968 | ||||||
|
Payments on software and data license liabilities
|
367 | 893 | ||||||
|
Other debt payments, excluding line of credit
|
2,151 | 2,103 | ||||||
|
Prepayments of debt
|
25,000 | - | ||||||
|
Noncash investing and financing activities:
|
||||||||
|
Acquisition of property and equipment under capital lease
|
||||||||
|
and installment payment arrangements
|
3,747 | 10,268 | ||||||
8
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
||||||||||||||||||||||||
|
CALCULATION OF FREE CASH FLOW AVAILABLE TO EQUITY
|
||||||||||||||||||||||||
|
AND RECONCILIATION TO OPERATING CASH FLOW
|
||||||||||||||||||||||||
|
(Unaudited)
|
||||||||||||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||
|
06/30/10
|
09/30/10
|
12/31/10
|
03/31/11
|
FY2011
|
06/30/11
|
|||||||||||||||||||
|
Net cash provided by operating activities
|
16,988 | 42,966 | 64,230 | 42,035 | 166,219 | 32,754 | ||||||||||||||||||
|
Plus:
|
||||||||||||||||||||||||
|
Sale of assets
|
- | - | - | - | - | - | ||||||||||||||||||
|
Less:
|
||||||||||||||||||||||||
|
Capitalized software
|
(1,226 | ) | (1,341 | ) | (1,025 | ) | (963 | ) | (4,555 | ) | (529 | ) | ||||||||||||
|
Capital expenditures
|
(8,752 | ) | (21,734 | ) | (16,322 | ) | (12,213 | ) | (59,021 | ) | (12,577 | ) | ||||||||||||
|
Data acquisition costs
|
(4,326 | ) | (2,625 | ) | (3,765 | ) | (2,650 | ) | (13,366 | ) | (2,776 | ) | ||||||||||||
|
Payments on capital leases and installment payment arrangements
|
(5,968 | ) | (5,411 | ) | (5,726 | ) | (5,252 | ) | (22,357 | ) | (4,794 | ) | ||||||||||||
|
Payments on software and data license liabilities
|
(893 | ) | (164 | ) | (120 | ) | (4,139 | ) | (5,316 | ) | (367 | ) | ||||||||||||
|
Other required debt payments
|
(2,103 | ) | (2,028 | ) | (2,143 | ) | (2,154 | ) | (8,428 | ) | (2,151 | ) | ||||||||||||
|
Total
|
(6,280 | ) | 9,663 | 35,129 | 14,664 | 53,176 | 9,560 | |||||||||||||||||
9
|
CONSOLIDATED STATEMENTS OF OPERATIONS
|
||||||||||||||||||||||||||||||||
|
(Unaudited)
|
||||||||||||||||||||||||||||||||
|
(Dollars in thousands, except earnings per share)
|
||||||||||||||||||||||||||||||||
|
Q1 FY12 to Q1 FY11
|
||||||||||||||||||||||||||||||||
|
06/30/10
|
09/30/10
|
12/31/10
|
03/31/11
|
FY2011
|
06/30/11
|
%
|
$ | |||||||||||||||||||||||||
|
Revenue:
|
||||||||||||||||||||||||||||||||
|
Services
|
210,656 | 225,584 | 232,798 | 224,556 | 893,594 | 225,604 | 7.1 | % | 14,948 | |||||||||||||||||||||||
|
Products
|
59,739 | 66,085 | 66,312 | 74,240 | 266,376 | 63,330 | 6.0 | % | 3,591 | |||||||||||||||||||||||
|
Total revenue
|
270,395 | 291,669 | 299,110 | 298,796 | 1,159,970 | 288,934 | 6.9 | % | 18,539 | |||||||||||||||||||||||
|
Operating costs and expenses:
|
||||||||||||||||||||||||||||||||
|
Cost of revenue
|
||||||||||||||||||||||||||||||||
|
Services
|
164,650 | 175,687 | 178,586 | 176,065 | 694,988 | 180,463 | -9.6 | % | (15,813 | ) | ||||||||||||||||||||||
|
Products
|
45,771 | 48,320 | 48,258 | 47,551 | 189,900 | 48,878 | -6.8 | % | (3,107 | ) | ||||||||||||||||||||||
|
Total cost of revenue
|
210,421 | 224,007 | 226,844 | 223,616 | 884,888 | 229,341 | -9.0 | % | (18,920 | ) | ||||||||||||||||||||||
|
Selling, general and administrative
|
37,955 | 40,274 | 41,331 | 40,324 | 159,884 | 37,119 | 2.2 | % | 836 | |||||||||||||||||||||||
|
Impairment of goodwill and other intangibles
|
79,674 | 79,674 | 0 | |||||||||||||||||||||||||||||
|
Gains, losses and other items, net
|
(57 | ) | 78 | (3,640 | ) | 8,219 | 4,600 | 244 | -528.1 | % | (301 | ) | ||||||||||||||||||||
|
Total operating costs and expenses
|
248,319 | 264,359 | 264,535 | 351,833 | 1,129,046 | 266,704 | -7.4 | % | (18,385 | ) | ||||||||||||||||||||||
|
Income from operations
|
22,076 | 27,310 | 34,575 | (53,037 | ) | 30,924 | 22,230 | 0.7 | % | 154 | ||||||||||||||||||||||
|
% Margin
|
8.2 | % | 9.4 | % | 11.6 | % | -17.8 | % | 2.7 | % | 7.7 | % | ||||||||||||||||||||
|
Other income (expense)
|
||||||||||||||||||||||||||||||||
|
Interest expense
|
(5,898 | ) | (6,260 | ) | (6,006 | ) | (5,659 | ) | (23,823 | ) | (5,455 | ) | 7.5 | % | (443 | ) | ||||||||||||||||
|
Other, net
|
(451 | ) | 111 | (299 | ) | (827 | ) | (1,466 | ) | (87 | ) | 80.7 | % | (364 | ) | |||||||||||||||||
|
Total other income (expense)
|
(6,349 | ) | (6,149 | ) | (6,305 | ) | (6,486 | ) | (25,289 | ) | (5,542 | ) | 12.7 | % | (807 | ) | ||||||||||||||||
|
Earnings before income taxes
|
15,727 | 21,161 | 28,270 | (59,523 | ) | 5,635 | 16,688 | 6.1 | % | 961 | ||||||||||||||||||||||
|
Income taxes
|
6,291 | 8,464 | 7,856 | 11,466 | 34,077 | 6,673 | -6.1 | % | (382 | ) | ||||||||||||||||||||||
|
Net earnings (loss)
|
9,436 | 12,697 | 20,414 | (70,989 | ) | (28,442 | ) | 10,015 | 6.1 | % | 579 | |||||||||||||||||||||
|
Less: Net loss attributable
|
||||||||||||||||||||||||||||||||
|
to noncontrolling interest
|
(369 | ) | (584 | ) | (409 | ) | (3,933 | ) | (5,295 | ) | (960 | ) | 160.2 | % | (591 | ) | ||||||||||||||||
|
Net earnings (loss) attributable to Acxiom
|
9,805 | 13,281 | 20,823 | (67,056 | ) | (23,147 | ) | 10,975 | 11.9 | % | 1,170 | |||||||||||||||||||||
|
Diluted earnings (loss) per share
|
||||||||||||||||||||||||||||||||
|
attributable to Acxiom shareholders
|
0.12 | 0.16 | 0.25 | (0.83 | ) | (0.29 | ) | 0.13 | 8.3 | % | 0.01 | |||||||||||||||||||||
10
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
||||||||||||||||||||||||||||||||
|
RESULTS BY SEGMENT
|
||||||||||||||||||||||||||||||||
|
(Unaudited)
|
||||||||||||||||||||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||||||
|
Q1 FY11 to Q1 FY12
|
||||||||||||||||||||||||||||||||
|
06/30/10
|
09/30/10
|
12/31/10
|
03/31/11
|
FY2011
|
06/30/11
|
%
|
$ | |||||||||||||||||||||||||
|
Revenue:
|
||||||||||||||||||||||||||||||||
|
Services
|
210,656 | 225,584 | 232,798 | 224,556 | 893,594 | 225,604 | 7.1 | % | 14,948 | |||||||||||||||||||||||
|
Products
|
59,739 | 66,085 | 66,312 | 74,240 | 266,376 | 63,330 | 6.0 | % | 3,591 | |||||||||||||||||||||||
|
Total revenue
|
270,395 | 291,669 | 299,110 | 298,796 | 1,159,970 | 288,934 | 6.9 | % | 18,539 | |||||||||||||||||||||||
|
Income from operations:
|
||||||||||||||||||||||||||||||||
|
Services
|
20,879 | 22,952 | 26,390 | 21,181 | 91,402 | 20,172 | -3.4 | % | (707 | ) | ||||||||||||||||||||||
|
Products
|
1,140 | 4,436 | 4,545 | 13,675 | 23,796 | 2,302 | 101.9 | % | 1,162 | |||||||||||||||||||||||
|
Other
|
57 | (78 | ) | 3,640 | (87,893 | ) | (84,274 | ) | (244 | ) | -528.1 | % | (301 | ) | ||||||||||||||||||
|
Total income (loss) from operations
|
22,076 | 27,310 | 34,575 | (53,037 | ) | 30,924 | 22,230 | 0.7 | % | 154 | ||||||||||||||||||||||
|
Margin:
|
||||||||||||||||||||||||||||||||
|
Services
|
9.9 | % | 10.2 | % | 11.3 | % | 9.4 | % | 10.2 | % | 8.9 | % | ||||||||||||||||||||
|
Products
|
1.9 | % | 6.7 | % | 6.9 | % | 18.4 | % | 8.9 | % | 3.6 | % | ||||||||||||||||||||
|
Total
|
8.2 | % | 9.4 | % | 11.6 | % | -17.8 | % | 2.7 | % | 7.7 | % | ||||||||||||||||||||
11