Acxiom Corp. of Little Rock cut its losses in the fourth quarter and swung to a full-year profit as revenue rose in each of its business segments. But the company disappointed analysts with fiscal 2017 revenue guidance that was below expectations.
The publicly traded data services company (Nasdaq: ACXM) reported a fourth-quarter net loss of $$1.6 million, or 2 cents per share, up from a loss of $6 million, or 8 cents, in the same quarter last year. Revenue was $224.6 million, up 9 percent from $205.7 million in same quarter last year.
For the fiscal year, net income was $6.7 million, or 9 cents per share, up from a loss of $11 million, or 14 cents, in the previous year. Revenue was $850.1 million, up 6 percent from $804.9 million in the previous year.
“Our strong fourth quarter performance capped off a year of solid execution across each of our businesses,” Acxiom CEO Scott Howe said in a news release. “In fiscal 2016, we extended our leadership in data connectivity with the launch of LiveRamp Customer Link and expansion of data onboarding to the UK and France. At the same time, Marketing Services and Audience Solutions had a number of key customer and partner wins. We enter fiscal 2017 from a position of strength, propelled by our recent progress and momentum.”
For fiscal 2017, the company expects revenue of between $870 million and $890 million, a figure below the analysts’ consensus estimate of $893.4 million.
For the quarter, the company reported revenue gains in each of business units: Marketing Services, Audience Solutions and Connectivity.
Market Services, the largest segment, reported revenue of $113 million, up 3 percent from the same quarter last year. Audience Solutions was $80 million, up 4 percent. Connectivity, which the company said added 15 new customers during the quarter, was $31 million, up 62 percent.
During the quarter, Acxiom repurchased 731,000 shares for about $15 million.
The company also added Debora Beachner Tomlin to its board of directors. Tomlin is chief marketing and distribution officer for CSAA Insurance Group of Walnut Creek, California.
Sign up for Daily E-news
