Acxiom Corporation Announces $50 Million Stock Repurchase Program
August 30 2011 - 3:05PM
Business Wire
Acxiom® Corporation (Nasdaq: ACXM), a recognized leader in
marketing services and technology, today announced that the
company’s Board of Directors has approved a stock repurchase
program. Under the program, Acxiom is authorized to repurchase up
to $50 million of its outstanding shares of common stock from time
to time over the next 12 months in open market or privately
negotiated transactions depending on prevailing market conditions
and other factors. The repurchase program may be suspended or
discontinued at any time.
Scott Howe, Acxiom’s chief executive officer and president,
said, “At the present time, the combination of current market
valuations, our cash balances and ongoing cash flow generation lead
us to believe that this share repurchase program is an appropriate
use of cash, while also providing us adequate flexibility for
future initiatives. As we examine and prioritize our opportunities
to extend our existing assets and relationships from traditional
direct marketing to digital marketing, there will likely be
opportunities to increase investments in R&D and examine
potential tuck-in acquisitions. We will evaluate all such
opportunities according to expected return.”
About Acxiom
Acxiom is a recognized leader in marketing services and
technology that enable marketers to successfully manage audiences,
personalize consumer experiences and create profitable customer
relationships. Our superior industry-focused, consultative approach
combines consumer data and analytics, databases, data integration
and consulting solutions for personalized, multichannel marketing
strategies. Acxiom leverages over 40 years of experience in data
management to deliver high-performance, highly secure, reliable
information management services. Founded in 1969, Acxiom is
headquartered in Little Rock, Arkansas, USA, and serves clients
around the world from locations in the United States, Europe,
Asia-Pacific and South America. For more information about Acxiom,
visit Acxiom.com.
Forward Looking Statements
This release may contain forward-looking statements including,
without limitation, statements concerning ongoing cash flow
generation, opportunities to invest in R&D and potential
acquisitions. Such forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially. The following are factors, among others, that
could cause actual results to differ materially from these
forward-looking statements: the possibility that certain contracts
may not generate the anticipated revenue or profitability or may
not be closed within the anticipated time frames; the possibility
that significant customers may experience extreme, severe economic
difficulty or otherwise reduce the amount of business they do with
us; the possibility that we will not successfully complete customer
contract requirements on time or meet the service levels specified
in the contracts, which may result in contract penalties or lost
revenue; the possibility that data suppliers might withdraw data
from us, leading to our inability to provide certain products and
services to our clients, which could lead to decreases in our
operating results; the possibility that we may not be able to
attract, retain or motivate qualified technical, sales and
leadership associates, or that we may lose key associates; the
possibility that we may be unable to quickly and seamlessly
integrate a new chief executive officer and chief financial
officer; the possibility that we will not be able to continue to
receive credit upon satisfactory terms and conditions; the
possibility that negative changes in economic conditions in general
or other conditions might lead to a reduction in demand for our
products and services; the possibility that there will be changes
in consumer or business information industries and markets that
negatively impact the company; the possibility that the historical
seasonality of our business may change; the possibility that we
will not be able to achieve cost reductions and avoid unanticipated
costs; the possibility that the fair value of certain of our assets
may not be equal to the carrying value of those assets now or in
future time periods; the possibility that changes in accounting
pronouncements may occur and may impact these forward-looking
statements; the possibility that we may encounter difficulties when
entering new markets or industries; the possibility that we could
experience loss of data center capacity or interruption of
telecommunication links; and other risks and uncertainties,
including those detailed from time to time in our periodic reports
filed with the Securities and Exchange Commission, including our
current reports on Form 8-K, quarterly reports on Form 10-Q and
annual reports on Form 10-K, particularly the discussion under the
caption “Item 1A, RISK FACTORS” in our Annual Report on Form 10-K
for the year ended March 31, 2011, which was filed with the
Securities and Exchange Commission on May 27, 2011.
With respect to the provision of products or services outside
our primary base of operations in the United States, all of the
above factors apply, along with the difficulty of doing business in
numerous sovereign jurisdictions due to differences in scale,
competition, culture, laws and regulations.
We undertake no obligation to update the information contained
in this press release or any other forward-looking statement.
Acxiom is a registered trademark of Acxiom Corporation.
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