Despite declining revenue, database marketer Acxiom posted higher earnings in its third quarter.
The Little Rock-based firm reported net income of $14.5 million for the quarter compared to $7.9 million one year ago. Revenue was $273.1 million, down slightly from $280.9 million.
Company leaders offered an honest assessment on the revenue results.
“Revenue from our top 100 U.S. marketing and data services customers was up over 7 percent this quarter and up over 9 percent year to date,” said Acxiom CEO Scott Howe. “While we are pleased with this performance, we also recognize we have work to do in order to further expand our client base and reignite growth with our small and mid-tier customers.”
- Marketing and data services revenue increased slightly to $190 million, compared to $187 million.
- U.S. marketing and data services revenue increased 4 percent to $160 million, compared to $155 million.
- IT infrastructure management revenue decreased 9 percent to $70 million in the current quarter compared to $77 million.
Acxiom shares (NASDAQ: ACXM) closed trading on Wednesday at $18.68. The company’s stock has traded between $12.66 and $19.02 per share during the last year.