Acxiom Increases Share Repurchase Program to $150 Million
May 24 2012 - 4:19PM
Business Wire
Acxiom® Corporation (Nasdaq: ACXM), a recognized leader in
marketing services and technology, today announced that the
company’s Board of Directors has increased the size of its
authorized repurchase plan to $150 million. Since inception of the
program in August 2011, the company has repurchased 6.1 million
shares for approximately $72 million resulting in the repurchase of
approximately 7 percent of its outstanding shares.
“Our financial strength gives us the flexibility to invest in
new products and return capital to our shareholders,” said Acxiom
CEO Scott Howe. “Our next generation of products is under
development and we are now able to significantly increase again the
size of our share repurchase plan."
The company is authorized to repurchase shares 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. During fiscal 2012, the Company also retired debt of $144
million, which is approximately 34 percent of its total. The
company’s operating cash flow was a strong $229 million for the
year ending March 31, 2012.
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 regarding our share repurchase
program. 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 not be able to adequately adapt to rapidly
changing computing environments, technologies and marketing
practices ;the possibility that we may be unable to quickly and
seamlessly integrate our new executive officers; 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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