Acxiom® Corporation (Nasdaq: ACXM) announced financial results for the third quarter of fiscal 2008 which ended December 31, 2007. For the nine-month period ended December 31, 2007, revenue totaled $1.04 billion, up 0.2 percent from the same period in the prior year. Income from operations for the nine months was $121.4 million compared to $129.5 million a year ago. Diluted earnings per share were $.66 compared to $.75 in the prior year. The diluted earnings per share include the impact of $28.1 million, or $.21 per share, of benefit from unusual items, net of income tax effect, for the nine-month period.
“Our revenue and earnings on continuing operations continue to be impacted by the difficulty in the financial services industry, which has resulted in reduced spending by many of our clients,” interim company leader Charles D. Morgan said. “With many of our largest clients affected by the downturn, it has had a significant impact on an important sector of our business. As we have discussed previously, due to the decrease in revenue during the first half of our fiscal year, we took measures to reduce expenses. Although these initiatives had a meaningful impact on expenses this quarter, these measures did not fully offset the reduction in revenue in the third quarter. We expect to experience continued reduced spending from some of our clients, especially in the financial services industry.”
The Company is updating its outlook for the remainder of its 2008 fiscal year. Previous guidance is superseded by the updated guidance and should not be relied upon. Revenue for the 12 months ending March 31, 2008 is expected to be flat to down 1 percent compared to fiscal 2007. Earnings per diluted share, before the effect of any unusual items recorded during the fiscal year, are expected to be in the range of $.60 to $.65. Reflecting the $28.1 million of unusual items recorded during the first three quarters of the fiscal year, earnings per diluted share for the fiscal year are expected to be from $.81 to $.86.
About Acxiom: Acxiom Corporation (Nasdaq: ACXM) integrates data, services and technology to create and deliver customer and information management solutions for many of the largest, most respected companies in the world. The core components of Acxiom’s innovative solutions are Customer Data Integration (CDI) technology, data, database services, IT outsourcing, consulting and analytics, and privacy leadership. Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas, with locations throughout the United States and Europe, and in Australia, China and Canada. For more information, visit http://www.acxiom.com/.