In announcing second quarter results John Meyer, Acxiom’s chief executive officer and president, said, “The September quarter was another challenging period for us versus the prior-year quarter, but we are beginning to see signs of progress in the business. Our revenue and operating income results improved in the September quarter over the June quarter. In addition, several of our clients have indicated to us that they expect to increase their marketing spending during the second half of our fiscal year. This anticipated increase in client spending coupled with our continued emphasis on expense management gives us confidence that our second half operating income performance will improve over the first half of the fiscal year.”
Revenue of $271.1 million in the current quarter, compared to $307.4 million, excluding an Information Products pass-through contract, in the second quarter a year ago. GAAP revenue in the prior period was $328.9 million, which included pass-through revenue from the Information Products contract of approximately $21.5 million. This contract was modified in the fourth quarter of fiscal 2009, and the company no longer recognizes pass-through revenue from this contract.
Income from operations of $21.2 million in the current year second quarter, compared to income from operations of $31.9 million in the second quarter last year, before the effect of unusual items. The prior year GAAP income from operations was $34.3 million, which included unusual gain items of $2.4 million. Source Acxiom