Acxiom® (Nasdaq: ACXM), an enterprise data, analytics and software-as-a-service company, today announced financial results for its third quarter ended December 31, 2013.
Total revenue for the third quarter was $278 million, up 2 percent from $273 million for the third quarter of fiscal 2013. Income from operations for the quarter was $20 million compared to $27 million for the prior-year period. Excluding unusual items, operating income was $29 million, up 10 percent from $27 million for the same period last year. Marketing and Data Services revenue for the third quarter increased 6 percent to $207 million compared to $195 million for the third quarter of last year. IT Infrastructure Management revenue was $62 million in the recent quarter, down 11 percent as expected from $70 million in the same period last year. Earnings per diluted share attributable to Acxiom stockholders were flat at $0.19. Excluding unusual items, diluted earnings per share were $0.25, up from $0.19 a year ago. Included in the current quarter is a tax-related adjustment which positively impacted both earnings-per-share measures by roughly $0.04 per share.
Operating cash flow was up 48 percent to $195 million for the trailing twelve-month period compared to $133 million for the same period a year ago. Free cash flow to equity was up 136 percent to $103 million for the trailing twelve-month period compared to $44 million for the same prior-year period. Free cash flow to equity for the prior-year trailing twelve-month period excludes $73 million in proceeds from the sale of the company’s background screening business. Free cash flow to equity is a non-GAAP financial measure. A reconciliation to the comparable GAAP measure, operating cash flow, is attached.
A schedule outlining the impact of unusual items on the current and prior-year results is attached.“We are thrilled with the progress made since our release of the Acxiom Audience Operating System,” said Acxiom CEO Scott Howe. “After just four months since launch, we now have more than 30 customers that are implementing or testing one or more aspects of AOS™.”