Hunt, Acxiom report on tough financial conditions

Fort SmithNews on the Wire

by The City Wire staff ([email protected]) January 29, 2009 5:36 pm 55 views 

The national economy proved tough for Arkansas-based companies that move goods and information.

J.B. HUNT
Lowell-based J.B. Hunt Transport Services Inc. reported today (Jan. 29) fourth quarter net income of $53.27 million, down slightly from the $54.32 earned in the same quarter of 2007. Total quarterly revenue of $879.78 million was down 6.8% from the same quarter of 2007.

“Flat years, as defined by net earnings, are certainly never our goal. However, we are quite pleased that we were able to sustain our earnings in the face of an extremely difficult environment,” Kirk Thompson, J.B. Hunt president and CEO, said in the earnings statement.

The company’s full-year numbers were relatively strong considering the nationwide decline in freight demand.  www.thecitywire.com/?q=node/2704

J.B. Hunt
Net income
Fiscal year 2008: $3.73 billion
Fiscal year 2007: $3.48 billion

Total revenue
Fiscal year 2008: $200.59 million
Fiscal year 2007: $213.13 million

With per share earnings of 41 cents in the fourth quarter, the company did beat Wall Street estimates by one cent. However, company shares (Nasdaq: JBHT) closed Thursday at $22.51, down 17 cents in high trading volume. During the past 52 weeks, the share price has ranged from a $40.25 high to a $19.84 low.

ACXIOM
Little Rock-based Acxiom Corp. reported a bad fiscal third quarter with total quarterly revenue ($321.05 million) down 8.5% from the same quarter of 2007, and with a net income loss of $11.44 million.

The software developer and database management company has had a tough 2008. Its revenue for the first nine months of its fiscal year (April-December) was $981.06 million, down 5.1% from the same period in 2007. Its net income in the nine-month period was $15.05 million, down 70.2% from the same period in 2007.

Despite the reality of the numbers, Acxiom President and CEO John Meyer said the company’s “performance was strong during the quarter.” He cited improved cash flow as a positive during the quarter.

Acxiom shares (Nasdaq: ACXM) closed Friday at $8.60, down 25 cents. During the past 52 weeks the share price has ranged from a $15.11 high to a $6.35 low.