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FY13 Q3 Text And Financials

Acxiom® Corporation (Nasdaq: ACXM), a recognized leader in marketing services and technology, today announced financial results for its third quarter ended December 31, 2012.

Revenue from continuing operations was $273 million, down 3 percent compared to $281 million for the prior-year period. Income from continuing operations increased 73 percent to $27 million in the current quarter, compared to $16 million in the prior year. Excluding unusual items, operating income for the quarter decreased 13 percent as compared to $31 million in the prior year. Marketing and data services revenue increased slightly to $190 million, compared to $187 million; U.S. marketing and data services revenue increased 4 percent to $160 million, compared to $155 million. As expected, IT infrastructure management revenue decreased 9 percent to $70 million in the current quarter compared to $77 million. Earnings per diluted share attributable to Acxiom stockholders were up 90 percent in the current quarter to $0.19, compared to diluted earnings per share in the prior-year quarter of $0.10. Diluted earnings per share decreased 14 percent as compared to $0.22, excluding unusual items in the prior-year quarter.

Operating cash flow was $132 million for the trailing twelve months, compared to $215 million for the comparable period a year ago. Free cash flow to equity increased slightly to $117 million for the trailing twelve months, compared to $115 million for the comparable period. Free cash flow to equity for the trailing twelve months included $73 million in proceeds from the sale of the company’s background screening business. Both operating cash flow and free cash flow to equity were down as a result of higher working capital and increased tax payments. Free cash flow available to equity is a non-GAAP financial measure. A reconciliation to the comparable GAAP measure, operating cash flow, is attached.

“Revenue from our top 100 U.S. marketing and data services customers was up over 7 percent this quarter and up over 9 percent year to date,” said Acxiom CEO Scott Howe. “While we are pleased with this performance, we also recognize we have work to do in order to further expand our client base and reignite growth with our small and mid-tier customers.”

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