LiveRamp Holdings, Inc. - FORM 8-K - EX-99.1 - PRESS RELEASE & FINANCIALS (Q2 FY12)

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For more information, contact:

Katharine Boyce

Acxiom Investor Relations

501-342-1321

investor.relations@acxiom.com

EACXM

ACXIOM ANNOUNCES SECOND QUARTER FISCAL YEAR 2012 RESULTS

LITTLE ROCK, Ark. – October 26, 2011 — Acxiom® Corporation (Nasdaq: ACXM), a recognized leader in marketing services and technology, today announced financial results for the second quarter of fiscal year 2012 ended September 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.

“The second quarter was in line with expectations and demonstrates Acxiom’s continuing role as a strong technology and strategic partner for our clients,” said Scott Howe, Acxiom CEO and president. “It also indicates we’re practicing good financial stewardship, which helps fuel our continuing innovation. Accelerating top-line growth and margins must be a focus of our future efforts.”

Second Quarter 2012 Highlights:

·	Revenue increased by 2.9% in the current quarter ended September 30, 2011 to $300.0 million, compared to $291.7 million for the quarter ended September 30, 2010.

Income from operations of $28.9 million in the current-year second quarter, compared to income from operations of $27.3 million in the second quarter of the prior year. Excluding the impact of unusual items, primarily the loss on disposal of the MENA operations, income from operations would have been $31.4 million.

·	Earnings per diluted share attributable to Acxiom stockholders of $0.15 in the current quarter, compared to earnings per share of $0.16 in the second quarter of fiscal 2011. Excluding the unusual items, earnings per diluted share attributable to Acxiom stockholders would have been $0.19.

·	Operating cash flow of $57.7 million, compared to $43.0 million in the second quarter a year ago.

·	Free cash flow available to equity of $36.4 million, compared to $9.7 million in the second 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.

Operational Highlights:

Information Services: Revenue for the quarter ended September 30, 2011 was $230.7 million, up 2.2% compared to $225.6 million for the quarter ended September 30, 2010. Income from operations for the current second quarter was $23.2 million, up 1.1% compared to $23.0 million in the prior-year second quarter.

·	Information Products: Revenue for the quarter increased 5.0% to $69.4 million, compared with $66.1 million in the second quarter a year ago. Income from operations for the quarter was $8.2 million, compared to $4.4 million in the second quarter of the previous year.

·	Debt prepayment: The company prepaid $75 million of its term loan due March 15, 2015 in the current quarter.

·	Share repurchase: The company instituted a share repurchase program during the quarter and has repurchased 3.7 million shares for $39.1 million, of which $5.0 million was accrued as of September 30, 2011 and paid in October.

Fiscal Year 2012 Year-To-Date Highlights:

·	Revenue increased by 4.8% in the current-year six-month period, to $589.0 million, compared to $562.1 million for the six months ended September 30, 2010.

Income from operations of $51.2 million for the first six months of fiscal year 2012, compared to income from operations of $49.4 million in the comparable six-month period of fiscal 2011. Excluding the impact of unusual items, primarily the loss on disposal of the MENA operations, income from operations would have been $53.9 million.

Earnings per diluted share attributable to Acxiom stockholders of $0.28 in the current-year six-month period, compared to earnings per share of $0.28 in the comparable six-month period last year. Excluding the unusual items, earnings per diluted share attributable to Acxiom stockholders would have been $0.33.

·	Operating cash flow of $90.5 million in the current fiscal year six-month period, compared to $60.0 million in the prior year six-month period.

Free cash flow available to equity of $45.9 million for the six months ended September 30, 2011, compared to $3.4 million for the six months ended September 30, 2010. 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.

Web Link to Financials

You may link to http://www.acxiom.com/FY12_Q2_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 the timing and process for strategy development and adoption and our expectations for 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 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 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 Report 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.


ACXIOM CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except earnings per share)


	For the Three Months Ended
	September 30,
							$				%
	2011			2010			Variance			Variance

Revenue:
Services		230,655			225,584			5,071			2.2	%
Products		69,379			66,085			3,294			5.0	%
Total revenue		300,034			291,669			8,365			2.9	%

Operating costs and expenses:
Cost of revenue
Services		181,121			175,687			(5,434	)		(3.1	%)
Products		47,962			48,320			358			0.7	%
Total cost of revenue		229,083			224,007			(5,076	)		(2.3	%)

Services gross margin		21.5	%		22.1	%
Products gross margin		30.9	%		26.9	%
Total gross margin		23.6	%		23.2	%

Selling, general and administrative		39,539			40,274			735			1.8	%
Gains, losses and other items, net		2,465			78			(2,387	)		3060.3	%

Total operating costs and expenses		271,087			264,359			(6,728	)		(2.5	%)

Income from operations		28,947			27,310			1,637			6.0	%

Other income (expense):
Interest expense		(4,719	)		(6,260	)		1,541			24.6	%
Other, net		(965	)		111			(1,076	)		969.4	%

Total other income (expense)		(5,684	)		(6,149	)		465			7.6	%

Earnings before income taxes		23,263			21,161			2,102			9.9	%

Income taxes		10,286			8,464			(1,822	)		(21.5	%)

Net earnings		12,977			12,697			280			2.2	%

Less: Net earnings (loss) attributable to noncontrolling interest		685			(584	)		1,269			(217.3	%)

Net earnings attributable to Acxiom		12,292			13,281			(989	)		(7.4	%)

Earnings per share:

Basic		0.16			0.16			0.00			0.0	%

Diluted		0.16			0.16			0.00			0.0	%

Earnings per share attributable to Acxiom stockholders:

Basic		0.15			0.17			(0.02	)		(11.8	%)

Diluted		0.15			0.16			(0.01	)		(6.3	%)


ACXIOM CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except earnings per share)


	For the Six Months Ended
	September 30,
							$				%
	2011			2010			Variance			Variance

Revenue:
Services		456,259			436,240			20,019			4.6	%
Products		132,709			125,824			6,885			5.5	%
Total revenue		588,968			562,064			26,904			4.8	%

Operating costs and expenses:
Cost of revenue
Services		361,584			340,337			(21,247	)		(6.2	%)
Products		96,840			94,091			(2,749	)		(2.9	%)
Total cost of revenue		458,424			434,428			(23,996	)		(5.5	%)

Services gross margin		20.8	%		22.0	%
Products gross margin		27.0	%		25.2	%
Total gross margin		22.2	%		22.7	%

Selling, general and administrative		76,658			78,229			1,571			2.0	%
Gains, losses and other items, net		2,709			21			(2,688	)		12800.0	%

Total operating costs and expenses		537,791			512,678			(25,113	)		(4.9	%)

Income from operations		51,177			49,386			1,791			3.6	%

Other income (expense):
Interest expense		(10,174	)		(12,158	)		1,984			16.3	%
Other, net		(1,052	)		(340	)		(712	)		209.4	%

Total other income (expense)		(11,226	)		(12,498	)		1,272			10.2	%

Earnings before income taxes		39,951			36,888			3,063			8.3	%

Income taxes		16,959			14,755			(2,204	)		(14.9	%)

Net earnings		22,992			22,133			859			3.9	%

Less: Net loss attributable to noncontrolling interest		(275	)		(953	)		678			(71.1	%)

Net earnings attributable to Acxiom		23,267			23,086			181			0.8	%

Earnings per share:

Basic		0.28			0.28			0.00			0.0	%

Diluted		0.28			0.27			0.01			3.7	%

Earnings per share attributable to Acxiom stockholders:

Basic		0.29			0.29			0.00			0.0	%

Diluted		0.28			0.28			0.00			0.0	%


ACXIOM CORPORATION AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP EPS
(Unaudited)
(Dollars in thousands, except earnings per share)

	For the Three Months Ended						For the Six Months Ended
	September 30,						September 30,
	2011			2010			2011			2010

Earnings before income taxes		23,263			21,161			39,951			36,888

Unusual items		2,465			78			2,709			21

Earnings before income taxes and unusual items		25,728			21,239			42,660			36,909


Earnings before income taxes		23,263			21,161			39,951			36,888

Income taxes		10,286			8,464			16,959			14,755

Net earnings		12,977			12,697			22,992			22,133

Less: Net earnings (loss) attributable to noncontrolling interest		685			(584	)		(275	)		(953	)

Net earnings attributable to Acxiom		12,292			13,281			23,267			23,086

Earnings per share attributable to Acxiom stockholders:

Basic		0.15			0.17			0.29			0.29

Diluted		0.15			0.16			0.28			0.28

Unusual items:

MENA disposal		2,512			-			2,512			-
Other adjustments		(47	)		78			197			21

Total unusual items		2,465			78			2,709			21

Earnings before income taxes
and excluding unusual items		25,728			21,239			42,660			36,909

Income taxes		10,289			8,496			17,060			14,764

Non-GAAP net earnings		15,439			12,743			25,600			22,145

Less: Net earnings (loss) attributable to noncontrolling interest		(179	)		(584	)		(1,139	)		(953	)

Non-GAAP Net earnings attributable to Acxiom		15,618			13,327			26,739			23,098

Non-GAAP earnings per share attributable to Acxiom stockholders:

Basic		0.19			0.17			0.33			0.29

Diluted		0.19			0.16			0.33			0.28

Diluted weighted average shares		81,597			81,282			81,805			81,369


ACXIOM CORPORATION AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP INCOME FROM OPERATIONS
(Unaudited)
(Dollars in thousands, except earnings per share)

	For the Three Months Ended					For the Six Months Ended
	September 30,					September 30,
	2011			2010		2011		2010

Income from operations		28,947			27,310		51,177		49,386

Unusual items		2,465			78		2,709		21

Income from operations before unusual items		31,412			27,388		53,886		49,407



Unusual items:

MENA disposal		2,512			-		2,512		-
Other adjustments		(47	)		78		197		21

Total unusual items		2,465			78		2,709		21


ACXIOM CORPORATION AND SUBSIDIARIES
CALCULATION OF EARNINGS PER SHARE
(Unaudited)
(In thousands, except earnings per share)


	For the Three Months Ended

	September 30,		September 30,
	2011		2010

Basic earnings per share:

Numerator - net earnings		12,977		12,697

Denominator - weighted-average shares outstanding		80,985		80,046

Basic earnings per share		0.16		0.16

Diluted earnings per share:

Numerator - net earnings		12,977		12,697

Denominator - weighted-average shares outstanding		80,985		80,046

Dilutive effect of common stock options, warrants and restricted stock		612		1,236

		81,597		81,282

Diluted earnings per share		0.16		0.16





Basic earnings per share attributable to Acxiom stockholders:

Numerator - net earnings attributable to Acxiom		12,292		13,281

Denominator - weighted-average shares outstanding		80,985		80,046

Basic earnings per share attributable to Acxiom stockholders		0.15		0.17

Diluted earnings per share attributable to Acxiom stockholders:

Numerator - net earnings attributable to Acxiom		12,292		13,281

Denominator - weighted-average shares outstanding		80,985		80,046

Dilutive effect of common stock options, warrants, and restricted stock		612		1,236

		81,597		81,282

Diluted earnings per share attributable to Acxiom stockholders		0.15		0.16


ACXIOM CORPORATION AND SUBSIDIARIES
CALCULATION OF EARNINGS PER SHARE
(Unaudited)
(In thousands, except earnings per share)


	For the Six Months Ended

	September 30,		September 30,
	2011		2010

Basic earnings per share:

Numerator - net earnings		22,992		22,133

Denominator - weighted-average shares outstanding		80,963		79,894

Basic earnings per share		0.28		0.28

Diluted earnings per share:

Numerator - net earnings		22,992		22,133

Denominator - weighted-average shares outstanding		80,963		79,894

Dilutive effect of common stock options, warrants and restricted stock		842		1,475

		81,805		81,369

Diluted earnings per share		0.28		0.27





Basic earnings per share attributable to Acxiom stockholders:

Numerator - net earnings attributable to Acxiom		23,267		23,086

Denominator - weighted-average shares outstanding		80,963		79,894

Basic earnings per share attributable to Acxiom stockholders		0.29		0.29

Diluted earnings per share attributable to Acxiom stockholders:

Numerator - net earnings attributable to Acxiom		23,267		23,086

Denominator - weighted-average shares outstanding		80,963		79,894

Dilutive effect of common stock options, warrants, and restricted stock		842		1,475

		81,805		81,369

Diluted earnings per share attributable to Acxiom stockholders		0.28		0.28


ACXIOM CORPORATION AND SUBSIDIARIES
RESULTS BY SEGMENT
(Unaudited)
(Dollars in thousands)


	For the Three Months Ended

	September 30,			September 30,
Revenue:	2011			2010

Information services		230,655			225,584
Information products		69,379			66,085

Total revenue		300,034			291,669


Income from operations:

Information services		23,211			22,952
Information products		8,201			4,436
Other		(2,465	)		(78	)

Total income from operations		28,947			27,310

Margin:

Information services		10.1	%		10.2	%
Information products		11.8	%		6.7	%

Total margin		9.6	%		9.4	%


ACXIOM CORPORATION AND SUBSIDIARIES
RESULTS BY SEGMENT
(Unaudited)
(Dollars in thousands)


	For the Six Months Ended

	September 30,			September 30,
Revenue:	2011			2010

Information services		456,259			436,240
Information products		132,709			125,824

Total revenue		588,968			562,064


Income from operations:

Information services		43,383			43,831
Information products		10,503			5,576
Other		(2,709	)		(21	)

Total income from operations		51,177			49,386

Margin:

Information services		9.5	%		10.0	%
Information products		7.9	%		4.4	%

Total margin		8.7	%		8.8	%


ACXIOM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)

	September 30,			March 31,			$				%
	2011			2011			Variance			Variance
Assets
Current assets:
Cash and cash equivalents		119,163			207,023			(87,860	)		(42.4	%)
Trade accounts receivable, net		181,423			176,654			4,769			2.7	%
Deferred income taxes		11,778			12,480			(702	)		(5.6	%)
Refundable income taxes		-			7,402			(7,402	)		(100.0	%)
Other current assets		56,715			55,691			1,024			1.8	%

Total current assets		369,079			459,250			(90,171	)		(19.6	%)

Property and equipment		899,684			888,717			10,967			1.2	%
Less - accumulated depreciation and amortization		648,383			633,410			14,973			2.4	%

Property and equipment, net		251,301			255,307			(4,006	)		(1.6	%)

Software, net of accumulated amortization		19,189			26,412			(7,223	)		(27.3	%)
Goodwill		413,662			417,654			(3,992	)		(1.0	%)
Purchased software licenses, net of accumulated amortization		34,974			38,583			(3,609	)		(9.4	%)
Deferred costs, net		70,502			81,837			(11,335	)		(13.9	%)
Data acquisition costs		14,038			17,627			(3,589	)		(20.4	%)
Other assets, net		6,988			9,955			(2,967	)		(29.8	%)

		1,179,733			1,306,625			(126,892	)		(9.7	%)

Liabilities and Stockholders' Equity
Current liabilities:
Current installments of long-term debt		27,826			27,978			152			0.5	%
Trade accounts payable		25,525			27,507			1,982			7.2	%
Accrued payroll and related expenses		34,477			42,236			7,759			18.4	%
Other accrued expenses		81,820			75,852			(5,968	)		(7.9	%)
Deferred revenue		52,746			55,921			3,175			5.7	%
Income taxes		2,978			-			(2,978	)		(100.0	%)

Total current liabilities		225,372			229,494			4,122			1.8	%

Long-term debt		284,957			394,260			109,303			27.7	%

Deferred income taxes		85,353			84,360			(993	)		(1.2	%)

Other liabilities		7,109			7,478			369			4.9	%

Stockholders' equity:
Common stock		11,913			11,777			136			1.2	%
Additional paid-in capital		848,277			837,439			10,838			1.3	%
Retained earnings		482,363			459,096			23,267			5.1	%
Accumulated other comprehensive income (loss)		9,972			15,991			(6,019	)		(37.6	%)
Treasury stock, at cost		(781,163	)		(739,125	)		(42,038	)		5.7	%
Total Acxiom stockholders' equity		571,362			585,178			(13,816	)		(2.4	%)
Noncontrolling interest		5,580			5,855			(275	)		(4.7	%)

Total equity		576,942			591,033			(14,091	)		(2.4	%)

		1,179,733			1,306,625			(126,892	)		(9.7	%)


ACXIOM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Dollars in thousands)

	For the Three Months Ended

	September 30,

	2011			2010

Cash flows from operating activities:
Net earnings		12,977			12,697
Non-cash operating activities:
Depreciation and amortization		34,959			37,720
Loss on disposal or impairment of assets		2,888			-
Deferred income taxes		1,098			2,508
Non-cash stock compensation expense		2,845			3,488
Changes in operating assets and liabilities:
Accounts receivable		(6,054	)		8,338
Other assets		3,925			(6,684	)
Deferred costs		(445	)		(12,640	)
Accounts payable and other liabilities		9,750			(861	)
Deferred revenue		(4,229	)		(1,600	)
Net cash provided by operating activities		57,714			42,966
Cash flows from investing activities:
Disposition of operations		(1,043	)		-
Capitalized software		(991	)		(1,341	)
Capital expenditures		(12,134	)		(21,734	)
Data acquisition costs		(1,774	)		(2,625	)
Net cash paid in acquisitions		-			(10,949	)
Net cash used by investing activities		(15,942	)		(36,649	)
Cash flows from financing activities:
Payments of debt		(81,463	)		(27,603	)
Sale of common stock		2,779			1,019
Acquisition of treasury stock		(34,100	)		-
Proceeds from partner's contributions		-			133
Net cash used by financing activities		(112,784	)		(26,451	)
Effect of exchange rate changes on cash		(919	)		1,061

Net change in cash and cash equivalents		(71,931	)		(19,073	)
Cash and cash equivalents at beginning of period		191,094			218,457
Cash and cash equivalents at end of period		119,163			199,384

Supplemental cash flow information:
Cash paid (received) during the period for:
Interest		5,742			5,896
Income taxes		4,289			17,724
Payments on capital leases and installment payment arrangements		4,184			5,411
Payments on software and data license liabilities		124			164
Other debt payments, excluding line of credit		2,155			2,028
Prepayments of debt		75,000			20,000
Noncash investing and financing activities:
Acquisition of property and equipment under capital lease
and installment payment arrangements		944			7,382


ACXIOM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Dollars in thousands)

	For the Six Months Ended

	September 30,

	2011			2010

Cash flows from operating activities:
Net earnings		22,992			22,133
Non-cash operating activities:
Depreciation and amortization		70,254			73,706
Loss on disposal or impairment of assets		2,893			-
Deferred income taxes		1,135			3,943
Non-cash stock compensation expense		5,200			6,460
Changes in operating assets and liabilities:
Accounts receivable		(9,676	)		(8,498	)
Other assets		(4,592	)		(8,151	)
Deferred costs		(831	)		(22,621	)
Accounts payable and other liabilities		6,071			(7,982	)
Deferred revenue		(2,978	)		964
Net cash provided by operating activities		90,468			59,954
Cash flows from investing activities:
Disposition of operations		(1,043	)		-
Capitalized software		(1,520	)		(2,567	)
Capital expenditures		(24,711	)		(30,486	)
Data acquisition costs		(4,550	)		(6,951	)
Payments received from investments		-			175
Net cash paid in acquisitions		(255	)		(12,927	)
Net cash used by investing activities		(32,079	)		(52,756	)
Cash flows from financing activities:
Payments of debt		(113,775	)		(36,567	)
Sale of common stock		2,818			4,820
Acquisition of treasury stock		(34,100	)		-
Proceeds from partner's contributions		-			133
Contingent consideration paid for prior acquisitions		(326	)		-
Net cash used by financing activities		(145,383	)		(31,614	)
Effect of exchange rate changes on cash		(866	)		(304	)

Net change in cash and cash equivalents		(87,860	)		(24,720	)
Cash and cash equivalents at beginning of period		207,023			224,104
Cash and cash equivalents at end of period		119,163			199,384

Supplemental cash flow information:
Cash paid (received) during the period for:
Interest		11,331			11,676
Income taxes		5,387			21,082
Payments on capital leases and installment payment arrangements		8,978			11,379
Payments on software and data license liabilities		491			1,057
Other debt payments, excluding line of credit		4,306			4,131
Prepayment of debt		100,000			20,000
Noncash investing and financing activities:
Acquisition of property and equipment under capital lease
and installment payment arrangements		4,691			17,650


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			09/30/11			FY2012

Net cash provided by operating activities		16,988			42,966			64,230			42,035			166,219			32,754			57,714			90,468

Less:
Capitalized software		(1,226	)		(1,341	)		(1,025	)		(963	)		(4,555	)		(529	)		(991	)		(1,520	)
Capital expenditures		(8,752	)		(21,734	)		(16,322	)		(12,213	)		(59,021	)		(12,577	)		(12,134	)		(24,711	)
Data acquisition costs		(4,326	)		(2,625	)		(3,765	)		(2,650	)		(13,366	)		(2,776	)		(1,774	)		(4,550	)
Payments on capital leases and installment payment arrangements		(5,968	)		(5,411	)		(5,726	)		(5,252	)		(22,357	)		(4,794	)		(4,184	)		(8,978	)
Payments on software and data license liabilities		(893	)		(164	)		(120	)		(4,139	)		(5,316	)		(367	)		(124	)		(491	)
Other required debt payments		(2,103	)		(2,028	)		(2,143	)		(2,154	)		(8,428	)		(2,151	)		(2,155	)		(4,306	)

Total		(6,280	)		9,663			35,129			14,664			53,176			9,560			36,352			45,912


CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except earnings per share)

																									Q2 FY11 to Q2 FY12
	06/30/10			09/30/10			12/31/10			03/31/11			FY2011			06/30/11			09/30/11			FY 2012			%			$
Revenue:
Services		210,656			225,584			232,798			224,556			893,594			225,604			230,655			456,259			2.2	%		5,071
Products		59,739			66,085			66,312			74,240			266,376			63,330			69,379			132,709			5.0	%		3,294
Total revenue		270,395			291,669			299,110			298,796			1,159,970			288,934			300,034			588,968			2.9	%		8,365

Operating costs and expenses:
Cost of revenue
Services		164,650			175,687			178,586			176,065			694,988			180,463			181,121			361,584			3.1	%		5,434
Products		45,771			48,320			48,258			47,551			189,900			48,878			47,962			96,840			-0.7	%		(358	)
Total cost of revenue		210,421			224,007			226,844			223,616			884,888			229,341			229,083			458,424			2.3	%		5,076


Selling, general and administrative		37,955			40,274			41,331			40,324			159,884			37,119			39,539			76,658			-1.8	%		(735	)
Impairment of goodwill and other intangibles		-			-			-			79,674			79,674			-			-			-						-
Gains, losses and other items, net		(57	)		78			(3,640	)		8,219			4,600			244			2,465			2,709			3060.3	%		2,387

Total operating costs and expenses		248,319			264,359			264,535			351,833			1,129,046			266,704			271,087			537,791			2.5	%		6,728

Income from operations		22,076			27,310			34,575			(53,037	)		30,924			22,230			28,947			51,177			6.0	%		1,637
% Margin		8.2	%		9.4	%		11.6	%		-17.8	%		2.7	%		7.7	%		9.6	%		8.7	%
Other income (expense)
Interest expense		(5,898	)		(6,260	)		(6,006	)		(5,659	)		(23,823	)		(5,455	)		(4,719	)		(10,174	)		-24.6	%		1,541
Other, net		(451	)		111			(299	)		(827	)		(1,466	)		(87	)		(965	)		(1,052	)		-969.4	%		(1,076	)
Total other income (expense)		(6,349	)		(6,149	)		(6,305	)		(6,486	)		(25,289	)		(5,542	)		(5,684	)		(11,226	)		-7.6	%		465

Earnings before income taxes		15,727			21,161			28,270			(59,523	)		5,635			16,688			23,263			39,951			9.9	%		2,102
Income taxes		6,291			8,464			7,856			11,466			34,077			6,673			10,286			16,959			21.5	%		1,822

Net earnings (loss)		9,436			12,697			20,414			(70,989	)		(28,442	)		10,015			12,977			22,992			2.2	%		280

Less: Net earnings (loss) attributable
to noncontrolling interest		(369	)		(584	)		(409	)		(3,933	)		(5,295	)		(960	)		685			(275	)		-217.3	%		1,269

Net earnings (loss) attributable to Acxiom		9,805			13,281			20,823			(67,056	)		(23,147	)		10,975			12,292			23,267			-7.4	%		(989	)


Diluted earnings (loss) per share
attributable to Acxiom shareholders		0.12			0.16			0.25			(0.83	)		(0.29	)		0.13			0.15			0.28			-6.3	%		(0.01	)

ACXIOM CORPORATION AND SUBSIDIARIES
RESULTS BY SEGMENT
(Unaudited)
(Dollars in thousands)

																									Q2 FY11 to Q2 FY12
	06/30/10			09/30/10			12/31/10			03/31/11			FY2011			06/30/11			09/30/11			FY2012			%			$
Revenue:

Services		210,656			225,584			232,798			224,556			893,594			225,604			230,655			456,259			2.2	%		5,071
Products		59,739			66,085			66,312			74,240			266,376			63,330			69,379			132,709			5.0	%		3,294

Total revenue		270,395			291,669			299,110			298,796			1,159,970			288,934			300,034			588,968			2.9	%		8,365

Income from operations:

Services		20,879			22,952			26,390			21,181			91,402			20,172			23,211			43,383			1.1	%		259
Products		1,140			4,436			4,545			13,675			23,796			2,302			8,201			10,503			84.9	%		3,765
Other		57			(78	)		3,640			(87,893	)		(84,274	)		(244	)		(2,465	)		(2,709	)		3060.3	%		(2,387	)

Total income (loss) from operations		22,076			27,310			34,575			(53,037	)		30,924			22,230			28,947			51,177			6.0	%		1,637

Margin:

Services		9.9	%		10.2	%		11.3	%		9.4	%		10.2	%		8.9	%		10.1	%		9.5	%
Products		1.9	%		6.7	%		6.9	%		18.4	%		8.9	%		3.6	%		11.8	%		7.9	%

Total		8.2	%		9.4	%		11.6	%		-17.8	%		2.7	%		7.7	%		9.6	%		8.7	%

Attached files

LiveRamp Holdings, Inc. Reports

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