Acxiom Reports In-Line Results - Analyst Blog
July 27 2011 - 10:23AM
Zacks
Acxiom Corporation (ACXM) reported revenues of
$288.9 million in the first quarter of fiscal 2012, up 6.9% year
over year and surpassed the Zacks Consensus Estimate of $277
million.
On a segment basis, Information services generated revenues of
$225.6 million, up 7.1% year over year. Information products
generated revenues of $63.3 million, up 6.0% year over year.
Gross margin came in at 20.6% from 22.2% in the year-ago
quarter. Operating margin came in at 7.7%, down from 8.2% in
the year-ago quarter.
Net income jumped 11.9% year over year to $10.9 million.
Earnings per share came in at 13 cents, in line with the Zacks
Consensus Estimate.
During the quarter, Acxiom generated $32.7 million of cash from
operations and used $12.6 million in capital expenditures.
Acxiom prepaid $25 million of its term loan due March 15, 2015
in the first quarter of fiscal 2012. Subsequent to the end of the
first quarter, Acxiom prepaid an additional $75 million of the term
loan.
Acxiom also announced that its Board of Directors has named
marketing and advertising veteran Scott E. Howe as the company’s
chief executive officer and president.
Howe is a former corporate Vice President of Microsoft
Advertising Business Groups. Prior to Microsoft, he served in
multiple executive positions within interactive company aQuantive,
which was acquired by Microsoft in 2007.
Earlier, the company’s CEO and President John A. Meyer and CFO
Christopher W. Wolf resigned from their posts.
We remain concerned about the several lawsuits initiated against
the company, alleging Acxiom of having violated the Exchange Act.
The stock holders allege that the financial statements issued by
the company were false and misleading, which artificially inflated
the price of Acxiom’s securities.
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