First Quarter 2012 Highlights:
- 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.
- 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.
- 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.
- Operating cash flow of $32.8 million, compared to $17.0 million in the first quarter a year ago.
- 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.
- 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.
- 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.
- 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.
- 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.
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.”
Acxiom’s revenues are on the rise again after a significant downturn in prior years (see comparative charts).
Source: Acxiom Press Release