Acxiom Reports $3M 1Q Loss

by Sarah Campbell-Miller  on Thursday, Aug. 9, 2018 3:27 pm   1 min read

Acxiom Corp. of Conway reported Thursday a first-quarter loss of $3 million, even bigger than the $1.3 million loss it reported in the same quarter last year.

But the data services company's revenue increased by 7 percent year-over-year, to $227 million.

Acxiom's fiscal year ends on March 31, and its results beat analysts' expectations.

The company (Nasdaq: ACXM) also reported a loss in operating income of $6 million, or 4 cents per share, compared to a loss of $6 million, or 2 cents per share, in the same quarter of last year.

Last month, Acxiom announced that it would sell its biggest line of business, Acxiom Marketing Solutions, to publicly traded Interpublic Group of Companies Inc. of New York in a deal worth $2.3 billion in cash.

"This is an inflection point for our company. The first quarter was another strong performance for both AMS and LiveRamp," CEO Scott Howe said Thursday in a news release. "We look forward to finalizing the IPG transaction and to the emergence of LiveRamp as a pure-play public SaaS platform."

Revenue and profit from AMS decreased slightly year-over-year in the first quarter, while revenue and profit from Acxiom’s other segment, LiveRamp, rose.

AMS reported revenue of $165 million, down 1 percent from $166 million. The segment reported income of $73 million, down 6 percent compared to the same quarter a year ago.

LiveRamp reported revenue of $62 million, up 34 percent year-over-year. The segment reported income of $44 million, up 57 percent.

Acxiom, which purchased 1.9 million shares for about $46 million during the first quarter, also said Thursday that it won’t update its full-year guidance until the sale of AMS closes.

So the company still expects its current fiscal year's revenue to be between $935 million and $955 million, with a loss per share of between 18 and 23 cents.

 

 

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