Acxiom® Corporation (Nasdaq: ACXM) announced its Fourth Quarter Fiscal Year 2013 results:
Fourth Quarter Results: Revenue from continuing operations was $277 million for the quarter, down 3.5 percent compared to $287 million for the prior-year period. Income from continuing operations decreased 9 percent to $20 million in the current quarter, compared to $22 million in the prior year. Excluding unusual items, operating income for the quarter decreased to $22 million as compared to $35 million in the prior year. Earnings per diluted share attributable to Acxiom stockholders were $0.18 in the current quarter, compared to diluted earnings per share in the prior-year quarter of $0.58. Excluding unusual items for both periods, diluted earnings per share of $0.19 decreased 14 percent as compared to $0.22.
Fiscal Year 2013: Revenue from continuing operations for the fiscal year ended March 31, 2013 decreased approximately 3 percent to $1,099 million, compared to $1,131 million in fiscal 2012. Earnings per diluted share attributable to Acxiom stockholders were $0.75 in fiscal 2013, compared to $0.96 in the prior year. Excluding unusual items and discontinued operations from both periods, earnings per diluted share attributable to Acxiom stockholders were $0.76 as compared to $0.72 in the prior year.
Operating cash flow decreased 35 percent to $150 million during the year, compared to $229 million in fiscal 2012. Free cash flow available to equity was $56 million, compared to $203 million in the prior year. The prior year result included $73 million in proceeds from the sale of the company’s background screening business. Both operating cash flow and free cash flow to equity were down as a result of changes in working capital and increased tax payments.
“Fiscal 2013 was a year of transition for the company”, said Acxiom CEO Scott Howe. “This past year we re-ignited product innovation, invested in our clients and our associates and continued to support our shareholders through our stock repurchase program. Looking ahead to 2014 we expect to continue to invest in our new product suite, add new customers and anticipate product launches in the later part of the fiscal year.”