Acxiom posts positive full-year earnings

by The City Wire staff ([email protected]) 163 views 

Acxiom Corp. finished its fourth quarter with a $46 million profit, a big reversal from one year ago when one-time charges bled the Little Rock-based data marketer to a $67 million loss.

For its fiscal fourth quarter, Acxiom reported flat revenues of $287.25 million, virtually unchanged from its fourth quarter one year ago.

Domestic marketing and data services boosted Acxiom’s bottom line. The company said U.S. revenue in the division was up 7% to $168 million, but was offset by declines in its international business. Acxiom’s other business segments only accounted for a net $5 million in quarterly profits.

For the full year, Acxiom posted net earnings of $77.26 million compared to a $23.15 million loss. Revenues for the full year rose 1.5% from the previous year to $1.13 billion.

“While there is still much to be done, we are pleased with our progress and enter our new fiscal year with a much stronger Acxiom,” Acxiom CEO Scott Howe said in a statement. “In the past year, we have tightened our focus, significantly strengthened our management team and begun development of our next generation of products. Looking ahead, our fiscal 2013 will be a year of continuing transition and investment. Our management team is now in place and we expect to build momentum throughout the year.”

Acxiom has added 4 high-profile executives to its C-suite in the last year. Howe, a former Microsoft executive, has been at the helm for less than a year. Since joining Acxiom, he has announced the hiring of Chief Financial Officer Warren Jenson, Chief Revenue Officer Nada Stirratt, and Chief Product and Engineering Officer Dr. Phil Mui over the past few months.

Also, Acxiom disclosed last week that its former board chairman, Michael J. Durham, would not stand for re-election to the board at the August 16th shareholders meeting. Durham was at the helm during the tumultuous years when an Acxiom private equity buyout fell apart and when long-time CEO Charles Morgan left the company.

“Mr. Durham’s decision was not due to any disagreement with the company on any matter relating to the company’s operations, policies or practices,” Acxiom noted in an SEC filing.

Acxiom’s shares (NASDAQ: ACXM) closed trading on Monday at $13.05. The company’s stock has traded as low as $8.94 and as high as $14.92 per share during the past 52 weeks.