John Meyer, Acxiom Corporation’s Chief Executive Officer and President, stated, “Despite the challenging economic environment, our performance was strong during the quarter. In particular, I was pleased with our cash flow generation and operating results, before unusual charges. Credit for these results is largely due to the efforts of Acxiom associates worldwide who have contributed to a more efficient organization while continuing to provide outstanding service to our clients.” Acxiom reported revenue of $321.1 million, compared to $350.8 million in the third quarter a year ago and a loss from operations of $8.6 million, compared to income from operations of $97.4 million in the third quarter last year. Loss from operations for the current quarter included unusual loss items of $43.2 million. The prior-year quarter included $63.5 million of unusual gain items.
- Operating cash flow of $78.9 million, compared to $122.3 million in the third quarter a year ago. Operating cash flow for the prior-year quarter includes the proceeds of a $65 million payment received as a result of the termination of the agreement to acquire Acxiom.
Operational Highlights: Information Services revenue for the quarter was $231.1 million, compared to $244.6 million in the third quarter of the previous year. Income from operations for the quarter was $43.4 million, compared to $42.7 million in the third quarter of fiscal 2008. Information Products revenue for the quarter was $90.0 million, compared to $106.1 million in the third quarter of the previous year. Income from operations for the quarter was $9.6 million, compared to $12.0 million in the third quarter of the previous year.
Outlook for 2009: Based on actual results and review of current expectations, the company is updating its fiscal year 2009 estimates as follows: Revenue is expected to be in the range of $1.28 billion to $1.3 billion. Earnings per diluted share, excluding unusual items, are expected to be in the range of $0.73 to $0.75. Free cash flow to equity, which is a non-GAAP measure, is expected to be in the range of $105 million to $115 million. Source: Acxiom Press Release
