Posted 5/13/2010 07:47 am
Updated 1 year ago
Acxiom Corp. of Little Rock on Thursday reported fourth-quarter net earnings of $16.4 million, down 27 percent from the same quarter last year.
The data services firm said quarterly revenue was $288.3 million, up slightly from $288.1 million, excluding an "information products pass-through contract" worth about $7.4 million during the same quarter last year.
"Our performance in the fourth quarter demonstrates that we continue to manage the business effectively in this economic environment," Acxiom CEO John Meyer said in an earnings news release. "We experienced our third consecutive quarterly increase in revenue, operating income and operating cash flow. These results stem from the superb job Acxiom professionals do serving our clients and bringing value, while remaining focused on efficiency in our execution."
Meyer said operating income in the second half of the fiscal year improved significantly from the first half of the year. He said the firm expects improvement in the economic outlook and a "continued return to our seasonal revenue and operating income patterns, where the first quarter is less than the fourth quarter."
Acxiom said operating income for the quarter was $35.2 million, compared to $41.6 million during the same quarter last year. Income from operations included unusual gain items of $1.8 million in the current year and $1.7 million previous in the year.
For the fiscal year, Acxiom's net earnings were up about 18 percent to $44.2 million. Revenue was down 13 percent to $1.1 billion.