Jeremy,
Here is the announcement I found on AOL:
CONWAY, Ark.--(BUSINESS WIRE)--April 30, 1997--Acxiom Corporation
(Nasdaq: ACXM) reported record revenue and earnings today for the
fourth quarter and fiscal year ended March 31, 1997.
Consolidated revenues for the year ended March 31, 1997 were
$402,016,000, up 49% over the $269,902,000 reported for 1996. Net
earnings were $27,512,000 ($.47 per share), up 51% from the earnings
in the previous year of $18,223,000 ($.35 per share).
For the fourth quarter ended March 31, 1997, consolidated
revenues were $105,982,000, up 38% from the same quarter a year ago.
Net earnings for the quarter were $8,141,000 ($.14 per share), an
increase of 56% compared to earnings in the previous year's fourth
quarter of $5,203,000 ($ .10 per share). All per-share amounts are
adjusted for a 2-for-1 stock split which was effective November 11,
1996.
"We had another outstanding year and achieved several important
milestones," said Charles D. Morgan, Acxiom's Chairman. "We made
significant progress on our data content and data delivery strategy
including two acquisitions early in the year and several data
distribution alliances with important partners throughout the year."
Data Distribution Alliances
Oracle Corporation announced an agreement with Acxiom to provide
data content for its new Data Mart Suites products on March 31, 1997.
For companies that want to build a customer-focused, decision-support
data mart, Acxiom will be a strategic partner to provide external
consumer support data such as age, income level, occupation, marital
status, etc., to enhance the Oracle database. During the fiscal year
Acxiom also completed data distribution and/or other cooperative
marketing agreements with IBM, Red Brick Systems, Inc., Informix
Software, Inc., Arbor Software Corporation, AppSource Corporation,
Business Objects, Inc., Microstrategy, Inc. and Trajecta, Inc.
Revenues from these and other similar relationships are expected to
grow strongly over the next few years.
Growth -- Across the Board
"We grew 29% internally this year in addition to $55 million in
growth from acquisitions," Morgan continued. "Our internal growth
was driven by a number of new customers as well as several new
agreements with existing customers."
During the quarter Acxiom successfully completed the first two
development phases associated with the Trans Union Corporation
Marketing Services agreement. Also during the quarter Acxiom and
Trans Union renegotiated the deliverables for the next phase, and
extended both the Marketing Services and Data Center Management
agreements for an additional three years. "These extensions reflect
the continuing and growing partnership between Trans Union and
Acxiom," said Ralph Sorice, Executive Vice President, Trans Union.
Revenues from Trans Union now exceed $50 million per year and
with continued future growth, Acxiom projects that the Trans Union
contract extensions will result in over $200 million added to its
contractual revenue backlog.
Recently acquired customers for which revenue increased
substantially during the year include America On-Line, The Bank of
New York, Bell Atlantic Communications, Inc., Blockbuster
Entertainment, Inc., Britannia Building Society, Brunswick
Corporation, Capital One Services, Conde Nast Publications, Dell
Products L.P., First USA Bank, IBM, NOVUS Services, Inc., NUMA
Corporation, PNC Bank, N.A., Phillips Publishing International, Inc.,
The Polk Company, Sam's Wholesale Club, Transamerica Financial
Services, and Wal-Mart Stores, Inc.
Realignment
Acxiom recently completed an organizational realignment into four
operating divisions supported by a small corporate office. "We have
realigned Acxiom effective April 1, 1997, to structure ourselves for
continued growth," Mr. Morgan continued. "I believe our new
divisional structure can support Acxiom's growth to a $2-$3 billion
corporation."
The four divisions include three in the U.S. and one
international division. The Acxiom International Division is based
in London, England, led by Jerry C.D. Ellis, with seven years of
Acxiom experience. This division maintains small offices in the
Netherlands and Malaysia in addition to major facilities in London
and Sunderland, England. "Acxiom International intends to expand
both through acquisitions and through internal growth in Europe, the
Asia Pacific region and other areas of the world," said Ellis.
Revenues from Acxiom International in fiscal 1997 were $28 million, a
60% increase over the previous year.
The three U.S.-based divisions are the Acxiom Data Products
Division, the Acxiom Services Division and the Acxiom Alliances
Division. The Data Products Division is led by C. Alex Dietz, with
over 25 years of experience at Acxiom. Included in the Acxiom Data
Products Division are Direct Media, Greenwich, CT; Data Quick, La
Jolla, CA; Pro CD, Danvers, MA; and InfoBase, Conway, AR. The Data
Products Division contributed $116 million in revenue during fiscal
1997 and grew 110% over the previous year. "Our vision is to be the
recognized data content leader for both consumer and business data,"
said Dietz. "We also plan to build a world-class data repository and
leading edge data delivery systems to distribute our data content."
The Acxiom Alliances Division is led by James T. Womble, with 23
years experience at Acxiom. Included in the Alliances Division are
the outsourcing relationships with Trans Union, Polk, Guideposts, ADP
and M/A/R/C, along with the Financial Services industry business
units. The Alliances Division contributed $129 million in revenue in
fiscal 1997 and grew 43% over the previous year. "We see significant
opportunity to grow our existing strategic relationships," said
Womble. "And we continue to find opportunities to build new
alliances that create win/win partnerships for both Acxiom and our
customers."
The Acxiom Services Division is led by Paul L. Zaffaroni, with
over eight years of Acxiom experience. The Services Division
consists of most of the Company's traditional computer processing
services customers including Allstate, Citibank, IBM, and the
Insurance, Telecommunications, Publishing, Retail, High Tech and
Utilities industry customers. The Services Division contributed $129
million in revenue in fiscal 1997, a 23% increase over the previous
year. "Our vision is to be the premier service provider of data,
data integration and data warehousing solutions to the Fortune 500,"
said Zaffaroni.
Acxiom provides a wide spectrum of data products, data
integration services, and mailing list services, as well as data
warehousing and decision support services to major firms in the
United States and United Kingdom. Founded in 1969, Acxiom is
headquartered in Conway, Arkansas, with operations throughout the
United States and the United Kingdom.
This press release contains forward looking statements that
involve risks and uncertanties, including statements about future
revenue growth. Actual results could differ, based upon market
conditions and other risks detailed from time to time in the
Company's SEC filings.
-0-
*T
Acxiom Corporation and Subsidiaries
Consolidated Statements of Earnings
(Unaudited)
For the Three Months Ended
March 31,
-----------------------------
1997 1996
-----------------------------
Revenue $105,982,000 $ 77,029,000
Operating costs and expenses:
Salaries and benefits 39,293,000 26,794,000
Computer, communications and
other equipment 13,574,000 13,009,000
Data costs 21,710,000 17,020,000
Other operating costs and
expenses 17,094,000 10,939,000
---------- ----------
Total operating costs and
expenses 91,671,000 67,762,000
---------- ----------
Income from operations 14,311,000 9,267,000
---------- ----------
Other income (expense):
Interest expense (1,406,000) (686,000)
Other, net (364,000) (173,000)
----------- -----------
(1,770,000) (859,000)
----------- -----------
Earnings before income
taxes 12,541,000 8,408,000
Income taxes 4,400,000 3,205,000
---------- ----------
Net earnings 8,141,000 5,203,000
Earnings per share 0.14 0.10
Weighted average shares
outstanding 59,540,000 52,334,000
For the Twelve Months Ended
March 31,
1997 1996
Revenue $402,016,000 $269,902,000
Operating costs and expenses:
Salaries and benefits 145,038,000 98,075,000
Computer, communications and
other equipment 58,552,000 40,972,000
Data costs 76,282,000 63,442,000
Other operating costs and
expenses 70,431,000 35,755,000
Total operating costs and
expenses 350,303,000 238,244,000
Income from operations 51,713,000 31,658,000
Other income (expense):
Interest expense (3,903,000) (1,863,000)
Other, net (3,772,000) (399,000)
----------- -----------
(7,675,000) (2,262,000)
Earnings before income
taxes 44,038,000 29,396,000
Income taxes 16,526,000 11,173,000
Net earnings 27,512,000 18,223,000
Earnings per share 0.47 0.35
Weighted average shares
outstanding 59,143,000 52,078,000
*T
CONTACT:
Acxiom Corporation, Conway
Robert S. Bloom, 501/336-1321
KEYWORD: ARKANSAS
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED EARNINGS
URL: acxiom.com
BW1130 APR 30,1997
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