by Luke Jones
Posted 5/15/2013 03:26 pm
Updated 7 months ago
Acxiom Corp. of Little Rock announced Thursday that fourth-quarter earnings dropped 71 percent from the same quarter last year.
The data services company reported revenue of $277 million, down 3.5 percent from $287 million in the same quarter of 2012. Income dropped to $13 million, or 17 cents per diluted share, from $45.8 million, or 58 cents per diluted share, in the same quarter last year.
"Fiscal 2013 was a year of transition for the company," Acxiom CEO Scott Howe said in a news release. "This past year we re-ignited product innovation, invested in our clients and our associates and continued to support our shareholders through our stock repurchase program.
"Looking ahead to 2014 we expect to continue to invest in our new product suite, add new customers and anticipate product launches in the later part of the fiscal year," he said.
It also gained some new clients including Foot Locker and Total Wine & More and expanded its relationship with Macy's and two unnamed U.S. financial institutions.
Finally, several new data products were released, including AbiliTag, Audience Propensities and PrivateCloud.
Acxiom's (Nasdaq: ACXM) year-end earnings also dropped, falling to $57.6 million, down 25 percent from $77.2 million in the previous fiscal year. Yearly revenue dropped almost 3 percent $1.09 billion from $1.13 billion.
The quarter's earnings per share beat analysts' expectations by 3 cents, but yearly earnings were $2.95 million below predictions.