Acxiom Corp.’s second quarter profits were nearly 30 percent better than the previous year as the Little Rock data marketer continues to see strong revenue growth.
For the period ended, Sept. 30, Acxiom reported second quarter earnings of $27.3 million, or 16 cents per share, up 28.5 percent from income of $21.2 million, or 12 cents, a year ago.
Acxiom’s revenue increased by 7.6 percent to $291.7 million in the second quarter of 2010, compared to $271.1 million a year ago. Wall Street analysts, on average, expected the Little Rock data marketer to report second quarter earnings of 16 cents per share, according to Thomson Reuters.
"I am pleased that we have delivered another quarter of solid financial performance. We continue to see revenue growth as evidenced by the year-over-year revenue increase of almost eight percent," John Meyer, Acxiom’s CEO and president. "This translated into an impressive 29 percent increase in operating income over the second quarter of last year. In addition to executing in the near term, we invested in several projects that should provide for continued future growth."
Overall, Acxiom’s operating cash flow fell 29 percent to $43 million, compared to $60.7 million in the second quarter a year ago.
In the company’s information services division, revenue rose 7.3 percent to $225.6 million versus $210.2 million for the same period in 2009. Income from operations was $23.0 million, up 14.9 percent from $20 million a year ago.
Revenue from information products increased to $66.1 million, up 8.5 percent from $60.9 million a year ago. Income from operations for the quarter was $4.4 million, compared to $1.2 million in the second quarter of the previous year.
Acxiom shares were trading at $17.99 ahead of Wednesday’s opening bell. The data marketing firm touched a 52-week high of $19.99 on April 26.