by Lance Turner
Posted 7/27/2011 07:59 am
Updated 2 years ago
Acxiom Corp. of Little Rock on Wednesday reported a 12 percent profit increase on a 7 percent rise in revenue in its first quarter.
The data services company, which also Wednesday announced a former Microsoft executive, Scott Howe, as its new CEO, said reported first-quarter earnings attributable to Acxiom of $10.98 million, or 13 cents per share, up from $9.81 million, or 12 cents a share, in the same quarter last year.
Profit came on revenue of $288.9 million, up from $270.4 million during the same quarter last year.
"We achieved overall solid financial performance for the quarter and are pleased with our continued revenue growth, especially in our core U.S. marketing services and products business," Jerry Gramaglia, Acxiom's interim CEO, said in a news release.
"During the quarter we increased spending in sales, account management and service delivery to continue our momentum and position Acxiom for strong performance through the balance of the year," he said.
Shares of the company (Nasdaq: ACXM), which fell sharply after the company disclosed a non-cash impairment charge and the departures of its former CEO and CFO in March, were up more than 13 percent in early trading Wednesday.
Acxiom also announced in the call its divestiture of Acxiom MENA (Middle East & North Africa), expecting to report a $3 million loss on the disposal.