Acxiom Announces Record Fourth Quarter and Fiscal 2000 Results.Business Editors LITTLE ROCK, Ark.--May 3, 2000--Acxiom(R) Corporation (Nasdaq:ACXM), the leader in customer data integration to support customer relationship management, today reported it achieved record revenue and earnings for the fourth quarter and for the fiscal year ended March 31, 2000. Highlights from the quarter and fiscal year included: -- AbiliTec is being well received in the marketplace. Major companies are including AbiliTec(SM) in their strategic initiatives for enterprise-wide CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. solutions. In addition to AbiliTec licenses, we expect this to result in significant demand for a broad array of our products and services. -- Record quarterly and annual financial results reflecting year-over-year revenue growth of 21% for the quarter and 28% for the year. Excluding the impact of Direct Media, which was sold during the quarter, revenue increased 27% and 31% for the quarter and year, respectively. -- Revenue increases of 42% and 43% for the quarter and year, respectively, after further adjusting revenues for the impact of lower revenue contributions from two customers: Waste Management, whose contract terminated ter·mi·nate v. ter·mi·nat·ed, ter·mi·nat·ing, ter·mi·nates v.tr. 1. To bring to an end or halt: July July: see month. 1, 1999 and Allstate This article is about the American insurance company. For the line of automobiles, see Allstate (automobile). The Allstate Corporation NYSE: ALL is the largest publicly held personal lines insurer in the United States. , whose revenues have declined due to lower volumes and reduced pricing. -- Record quarterly and annual earnings per share of $.29 and $1.00, representing a growth rate of 32% and 28%, respectively. -- EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become for the fourth quarter was $72.7 million and for the year $254.6 million, representing a growth rate of 35% for both periods. -- Days Sales Outstanding In accountancy, Days Sales Outstanding is a company's average collection period. A low figure indicates that the company collects its outstanding receivables quickly. Typically it is looked at either quarterly or yearly (90 or 365 days). ("DSO's") were reduced to below 72 days, achieving our goal. -- Successful launch of Acxiom's AbiliTec technology, a revolutionary real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. customer data integration technology supporting the creation of a single, accurate and enhanced view of the customer across an enterprise. -- Creation of multiple alliances to facilitate the adoption of AbiliTec technology including AZ Bertlesmann, Abacus, Dun and Bradstreet Brad·street , Anne Dudley 1612-1672. English-born colonial poet who wrote several collections of verse, including The Tenth Muse Lately Sprung Up in America (1650). , E.piphany, OgilvyOne, Siebel For the tech company, see . Siebel, originally Flugzeugbau Halle, was a German aircraft manufacturer in Halle an der Saale. Siebel aircraft included:
others. -- The successful sale of Acxiom's interest in certain investments and several non-core business lines allowed the company to increase its focus on AbiliTec and its core customer data integration business. "Our associates produced record financial performance and introduced new technologies that have placed Acxiom Acxiom is a customer and data information management company, offering a range of products and services including information technology outsourcing. It has been described as "one of the biggest companies you've never heard of. in an ideal position for continued, sustainable and profitable growth," Acxiom Company Leader Charles Charles, archduke of Austria Charles, 1771–1847, archduke of Austria; brother of Holy Roman Emperor Francis II. Despite his epilepsy, he was the ablest Austrian commander in the French Revolutionary and Napoleonic wars; however, he was handicapped by D. Morgan Morgan, American family of financiers and philanthropists. Junius Spencer Morgan, 1813–90, b. West Springfield, Mass., prospered at investment banking. said. "Over the last several months, I have personally met with some of our largest potential AbiliTec customers and am consistently hearing from them that their customer relationship management initiatives are essential to their business, and that AbiliTec will provide a unique technology for the achievement of their long-sought goal of having a single, comprehensive view of their customers. Yesterday's announcement of Sears, Roebuck and Co. adopting AbiliTec shows that very large scale enterprises are turning to AbiliTec to help them create systems that will allow them to truly know and thus better serve their customers." Record Revenues and Earnings Revenues for the fourth quarter ended March 31, 2000, were $261.8 million, up 21% from revenues of $215.6 million for the same quarter a year ago. Excluding the impact of Direct Media, in which a majority interest was sold, fourth quarter revenues grew 27% over the prior year. Income from operations was $47.4 million, an increase of 35% compared to income from operations of $35.0 million in the previous year's fourth quarter. For the fiscal year ended March 31, 2000, revenues were $964.5 million, up 28% from revenues of $754.1 million for the year ended March 31, 1999. Again, excluding the impact of Direct Media, revenues grew 31% over the prior year. Income from operations was $163.9 million, an increase of 40% compared to income from operations of $117.4 million in the previous fiscal year, excluding special charges taken in the prior year. Net earnings for the quarter were $26.8 million ($.29 diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of ) compared to $19.6 million ($.22 diluted earnings per share) in the previous year's fourth quarter, an increase of 37%. Net earnings for the year were $90.4 million ($1.00 diluted earnings per share) compared to a loss in the previous fiscal year of $15.1 million ($.19 diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. loss per share). Excluding last year's special charge, net earnings increased 35% compared to last year and diluted earnings per share increased 28% for the fiscal year ($1.00 versus $.78 a year ago). Acxiom generated cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses of $104.6 million for the fiscal year compared to $60.4 million for last year, representing growth of 73% for the year. Acxiom was also able to achieve its goal of lowering Days Sales Outstanding (DSO's) to 72 days. In fact, the Company's DSO's were reduced to 67 days compared to 78 days at the end of last quarter and 80 days at the end of last fiscal year. Acxiom reported strong revenue growth for the fourth quarter for each of its business segments. The Services segment reported revenues of $160.9 million for the quarter, and $609.7 million for the year, up 19% and 35%, respectively, over the prior year. Excluding the impact of the Allstate contract and server hardware sales, the Services segment grew 33% and 44% for the quarter and full year, respectively. The Data Products segment reported revenues of $64.1 million for the quarter, and $232.6 million for the year, up 27% and 24%, respectively, over the prior year. Excluding the impact of Direct Media on the Data Products segment, revenue grew 55% and 39% for the quarter and year, respectively. The Information Technology Management segment reported revenues of $55.8 million for the quarter, and $194.9 million for the year, up 37% and 26% respectively, over the prior year. During the quarter, Acxiom added to its growing list of blue-chip blue chip also blue-chip·per n. 1. A stock that sells at a high price because of public confidence in its long record of steady earnings. 2. An extremely valuable asset or property. 3. customers by signing a number of long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. , multi-million dollar contracts including several with leading companies in the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , media, packaged goods Noun 1. packaged goods - groceries that are packaged for sale foodstuff, grocery - (usually plural) consumer goods sold by a grocer plural, plural form - the form of a word that is used to denote more than one , and information services See Information Systems. industries. Contracts signed during the quarter represent over $175 million in revenue over their contract terms, which vary from one to five years, and represent approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $45 million in annual revenue. Over 60% of Acxiom's fiscal 2000 revenue was derived de·rive v. de·rived, de·riv·ing, de·rives v.tr. 1. To obtain or receive from a source. 2. from long-term contracts. Revenues committed under long-term contract grew 52% over the prior year. "Our associates produced another outstanding financial year for Acxiom. At the same time that we devoted substantial resources to our future AbiliTec opportunities, we achieved all our financial goals for the year including rapid growth of revenue and earnings, reduction of DSO's, and improving operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: to 17 percent," said Morgan. Fiscal 2000 - A Year of Positive Transformation "As we continue to roll out our revolutionary AbiliTec customer data integration technology on schedule, we were again pleased with the record financial performance of our core business, which provides the foundation for AbiliTec," added Rodger S Rodger is a surname, and may refer to:
"Fiscal 2000 was a year of significant change and growth for Acxiom as we positioned the business to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the potential of our AbiliTec technology in the coming years. Through asset sales in the fourth quarter, we enhanced our ability to focus on AbiliTec and the Acxiom products and services that drive this new technology. Acxiom is determined to lead the customer data integration and enhancement segment of the CRM market." Acxiom concluded several asset sales recently, giving the Company greater freedom to concentrate on its core business of customer data integration, and an infusion INFUSION, med. jur. A pharmaceutical operation, which consists in pouring a hot or cold fluid upon a substance, whose medical properties it is desired to extract. Infusion is also used for the product of this operation. Although infusion differs from decoction, (q.v. of cash for reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. in the core business. During the quarter, Acxiom completed the sale of 51% of its interest in Direct Media in a management buyout Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. . After March 31, Acxiom sold MarketWise, a business unit that built software marketing campaign solutions for mid-tier banks, to Sedona. On April 11, Acxiom sold its 25% interest in Ceres, a retail industry application software company, to NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers . Finally, on April 27, Acxiom completed the sale of DataQuick, which sells on-line information about properties throughout the U.S., while retaining ownership of the real estate data sourcing operation and the real estate data content. In total, Acxiom expects the asset sales to generate future cash inflows of approximately $100 million and represent a substantial gain on sale of assets. These businesses in total accounted for approximately $72 million in revenue in fiscal 2000. Kline noted: "Each of these opportunities had been acquired by Acxiom for good business reasons. These are all solid businesses, they have contributed to our performance, and it is no surprise we were able to sell our interest in them for a gain. These sales further our objective of sharpening For image sharpening, see . Sharpening is the process of creating or refining a sharp edge on a tool or implement. The term has a wide application but can be expressed as the creation of two intersecting planes which produce an edge that is sharp enough to cut through the target our convergence convergence Mathematical property of infinite series, integrals on unbounded regions, and certain sequences of numbers. An infinite series is convergent if the sum of its terms is finite. around providing technology, products and services in support of AbiliTec and customer relationship management." Acxiom's core business excluding these divested operations grew sharply as revenues were up 27% for the quarter and 32% for the full year. Also excluding the Waste Management data center outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. contract, which was a one-year adj. 1. completing its life cycle within a year. Adj. 1. one-year - completing its life cycle within a year; "a border of annual flowering plants" annual phytology, botany - the branch of biology that studies plants contract that terminated in July of 1999, revenue growth for the quarter was up 37% and for the full year 38%. And finally, also excluding the Allstate contract for underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. data, which decreased during the year due to reduced volumes and new contract terms, the growth of Acxiom's core businesses was 43% for the quarter and 45% for the full fiscal year. "I think these growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. clearly demonstrate the sales momentum we have been building in our core businesses. We believe AbiliTec will accelerate this momentum as it begins to gain customer acceptance in the market place," Kline continued. Rollout of AbiliTec Technology Continues In its fiscal third quarter, Acxiom announced the successful validation See validate. validation - The stage in the software life-cycle at the end of the development process where software is evaluated to ensure that it complies with the requirements. of the AbiliTec technology with the completion of the "Second One Hundred Days Project," which resulted in substantial improvements in the speed and accuracy of combining (or appending) data and substantially improved the accurate matching of valid names and addresses. Of the 70 account teams that successfully achieved the Winners Circle in the "Second One Hundred Days Project," 69 have now gone into full production with AbiliTec and are starting to experience the benefits. The Company continued the rollout in the fourth quarter with its concurrently con·cur·rent adj. 1. Happening at the same time as something else. See Synonyms at contemporary. 2. Operating or acting in conjunction with another. 3. Meeting or tending to meet at the same point; convergent. running "Third & Fourth One Hundred Days Projects." The Third Hundred Day Project put in place the processes and production infrastructure to process massive amounts of data, continued to improve the technology and took the first steps necessary for AbiliTec to become a global offering. The Fourth Hundred Days Project is arming Acxiom's associates with the knowledge and support they need to sell the AbiliTec technologies as enterprise-wide solutions. "We also believe that AbiliTec will enable Acxiom's customers to better serve the consumer privacy preferences of their customers. Just as AbiliTec allows businesses to create a single view of its customers in real time for marketing purposes, it also will make it much easier for businesses to allow their customers to access, correct and selectively opt-out To cancel some situation or condition. See opt-in. their information, provide better safeguards around their customers' information and facilitate the addition of information such as preference in time and manner of contact," Morgan noted. Fortune 100 Customers Recognize AbiliTec's potential "Sears' decision to sign a company-wide AbiliTec license is evidence that Fortune 100 companies are recognizing the tremendous potential of the new technology," Kline said. "We continue to be encouraged that some of the most admired ad·mire v. ad·mired, ad·mir·ing, ad·mires v.tr. 1. To regard with pleasure, wonder, and approval. 2. To have a high opinion of; esteem or respect. 3. and best run companies in the world are examining AbiliTec and agreeing that it can make a positive difference in their futures," Kline said. "At this time, many large corporations, including two global financial services companies, are seriously examining AbiliTec and how the technology can be integrated into their own operations," he noted. AbiliTec Alliances Acxiom continues to develop relationships with other companies that will incorporate AbiliTec into their products and services. On April 18, the Company announced that Acxiom has become a Siebel "Premier Content Partner." Customers of Siebel's eBusiness See e-business. 2000 will be able to link legacy customer data stores with contact information that is captured in real time. The customer's information can also be enhanced with access to other Acxiom information products. On April 3, Acxiom also announced an alliance with USADATA.com where USADATA will develop Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the applications to connect sales and marketing professionals and corporations to the Acxiom Data Network(SM). The USADATA web site will become the first real-time, pay-as-you-go pay-as-you-go also pay as you go n. The system or practice of paying debts as they are incurred. pay link to Acxiom's InfoBase A database created in Folio. See Folio. (TM). Throughout the year Acxiom has announced numerous other alliances designed to allow AbiliTec to be rapidly introduced. Global Expansion Continues On May 1, 2000, AZ Bertelsmann For the foundation, see . Bertelsmann AG is a transnational media corporation founded in 1835, based in Gütersloh, Germany. The company operates in 63 countries and employs over 100,000 workers (as of June 30, 2007). In 2006 the company reported a € 19. Direct and Acxiom Corporation announced they have signed an alliance agreement to deliver international marketing data and information management solutions to multinational multinational Of, relating to, or being a company with subsidiaries or other operations in a number of countries. The diversity of operations of such companies subjects them to unique risks (for example, exchange rate changes or government nationalization) clients operating in the major European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. markets. The alliance will combine the geographic geographic /geo·graph·ic/ (je?o-graf´ik) in pathology, of or referring to a pattern that is well demarcated, resembling outlines on a map. geographic pertaining to geography. market strengths of Bertelsmann operations in Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). and Austria Austria (ô`strēə), Ger. Österreich [eastern march], officially Republic of Austria, federal republic (2005 est. pop. 8,185,000), 32,374 sq mi (83,849 sq km), central Europe. with Acxiom operations in the United Kingdom. The alliance also will leverage the complementary market services of each company, notably the international data content assets of Bertelsmann and the international Customer Relationship Management, Customer Data Integration, and data access and delivery solutions offered by Acxiom. The alliance will be an important step towards introducing AbiliTec as the industry standard for Customer Data Integration across Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). .
The introduction of AbiliTec to the European market will be accelerated
and enhanced by Bertelsmann's exceptional access to high quality
data content.The Bertelsmann alliance is also complementary to the Levante This is a disambiguation page. Levante may refer to
Corporate Branding Corporate branding is the practice of using a company's name as a product brand name. It is an attempt to leverage corporate brand equity to create product brand recognition. It is a type of family branding or umbrella brand. In the last month Acxiom began its first ever nationwide corporate branding campaign with advertisements placed in national business publications. The campaign is designed to increase the awareness of Acxiom and AbiliTec among senior executives. Goal for Fiscal 2001: AbiliTec Roll Out Aided by the cash generated by a strong fiscal 2000 performance and recent asset sales, Acxiom will continue its previously announced plans to pursue and invest in its global AbiliTec rollout during the next 18-24 months. The company's goal is to continue to grow its revenue at a rapid rate while aggressively investing in AbiliTec in order to maintain its first-to-market advantage with this revolutionary technology. Fourth Quarter Conference Call to be Conducted on May 4, 2000 Acxiom's Leadership will hold its fiscal 2000 fourth quarter conference call on May 4, 2000, beginning at 9 a.m. CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT . We invite you to listen to the call. The conference call will be broadcast via the Internet at www.vcall.com. About Acxiom Corporation Acxiom Corporation is a global leader in real-time Customer Data Integration and Customer Relationship Management by offering innovative database marketing services, advanced technologies, and premier data content. Acxiom enables businesses to develop and deepen deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. deepen Verb to make or become deeper or more intense Verb 1. customer relationships by achieving a single view of the customer across the enterprise. Founded in 1969, Acxiom Corporation is based in Little Rock, Arkansas Little Rock, Arkansas required military intervention to desegregate schools (1957–1958). [Am. Hist.: Van Doren, 556–557] See : Bigotry , with operations throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and in the United Kingdom, France, Spain Spain, Span. España (āspä`nyä), officially Kingdom of Spain, constitutional monarchy (2005 est. pop. 40,341,000), 194,884 sq mi (504,750 sq km), including the Balearic and Canary islands, SW Europe. and Australia Australia (ôstrāl`yə), smallest continent, between the Indian and Pacific oceans. With the island state of Tasmania to the south, the continent makes up the Commonwealth of Australia, a federal parliamentary state (2005 est. pop. . For more information, please visit www.acxiom.com. This press release contains the following forward looking statements: (1) that AbiliTec will be a revolutionary customer data integration technology that will successfully support the creation of a real-time, single, accurate, comprehensive and enhanced view of a customer across a businesses enterprise; (2) that major companies will continue to include AbiliTec in their strategic enterprise wide CRM planning (3) that the inclusion of AbiliTec in the strategic CRM planning of major companies will lead to demand for Acxiom's services and products; (4) that Acxiom is in an ideal position for continued, sustainable and profitable growth; (5) that Acxiom will continue to be able to sign long term, multi-million dollar contracts with blue chip companies; (6) that Acxiom is ideally situated to capitalize on the potential of AbliTec in the coming years; (7) that the company will be able to achieve the expected future cash inflows from the sale of the described businesses and investments; (8) that as a result of the sale of the described businesses and investments the company will be better positioned to converge con·verge v. con·verged, con·verg·ing, con·verg·es v.intr. 1. a. To tend toward or approach an intersecting point: lines that converge. b. around providing technology, products and services in support of customer relationship management; (9) that the company will be able to continue to build the sales momentum in its core businesses; (10) that AbiliTec will accelerate the sales momentum; (11) that AbiliTec will continue to achieve customer acceptance in the marketplace; (12) that AbiliTec will be perceived per·ceive tr.v. per·ceived, per·ceiv·ing, per·ceives 1. To become aware of directly through any of the senses, especially sight or hearing. 2. To achieve understanding of; apprehend. and realized as a technology capable of allowing its users to better serve consumer privacy and preference interests; (13) that the AbiliTec technology can be efficiently and timely adapted to become a global offering; (14) that the company will be able to continue to develop relationships with other companies that will be able to successfully incorporate AbiliTec into their products and services in a manner that will yield benefits to Acxiom; (15) that Acxiom will be able to work with and leverage the capabilities of Acxiom and European based organizations to deliver international marketing and data information management solutions to multinational clients operating in major European markets; (16) that the introduction of AbiliTec to the European market will be accelerated and enhanced by Bertlesmann's exceptional access to high quality data content; (17) that the Bertlesmann alliance will prove to be complementary to the Levante alliance; (18) that Acxiom will continue to aggressively invest in AbiliTec for the next 18-24 months; (19) that Acxiom has as goals for fiscal 2001 the continued rapid growth of revenue, aggressive investment in AbiliTec and the maintenance of its first to market advantages of AbiliTec as a customer data integration technology; (20) that Acxiom anticipates that contracts signed during the quarter will represent over $175 million in revenue over their contract terms. The following are important factors that could cause actual results to differ materially from these forward looking statements: With regard to all statements concerning AbiliTec: the complexity and uncertainty regarding the development of new high technologies; the loss of market share through competition or the acceptance of these or other company offerings on a less rapid basis than expected; changes in the length of sales cycles due to the nature of AbiliTec being an enterprise-wide solution; the introduction of competent Possessing the necessary reasoning abilities or legal qualifications; qualified; capable; sufficient. A court is competent if it has been given jurisdiction, by statute or constitution, to hear particular types of lawsuits. , competitive products or technologies by other companies; changes in the consumer and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. business information industries and markets; the company's ability to protect proprietary information and technology or to obtain necessary licenses on commercially reasonable terms; the impact of changing legislative, regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. and consumer environments in the geography geography, the science of place, i.e., the study of the surface of the earth, the location and distribution of its physical and cultural features, the areal patterns or places that they form, and the interrelation of these features as they affect humans. that AbiliTec will be deployed. With regard to the statements that generally relate to the business of the company: all of the above factors; the possibility that economic or other conditions might lead to a reduction in demand for the company's products and services; the continued ability to attract and retain qualified technical and leadership associates and the possible loss of associates to other organizations; the ability to properly motivate the sales force and other associates of the company; the ability to achieve cost reductions; changes in the legislative, regulatory and consumer environments affecting the company's business including but not limited to legislation, regulations and customs relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the company's ability to collect, manage, aggregate and use data; data suppliers might withdraw data from the company, leading to the company's inability to provide certain products and services; short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. contracts affect the predictability of the company's revenues; the potential loss of data center capacity or interruption INTERRUPTION. The effect of some act or circumstance which stops the course of a prescription or act of limitation's. 2. Interruption of the use of a thing is natural or civil. of telecommunication telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. links; postal Postal can refer to:
base air base, air station - a base for military aircraft army base - a large base of operations for an army in the United States: all of the above factors and the difficulty of doing business in numerous sovereign SOVEREIGN. A chief ruler with supreme power; one possessing sovereignty. (q.v.) It is also applied to a king or other magistrate with limited powers. 2. In the United States the sovereignty resides in the body of the people. Vide Rutherf. Inst. 282. jurisdictions due to differences in culture, laws and regulations. Other factors are detailed from time to time in the company's periodic reports and registration statements filed with the United States Securities and Exchange Commission. Acxiom believes that it has the product and technology offerings, facilities, associates and competitive and financial resources for continued business success, but future revenues, costs, margins and profits are all influenced by a number of factors, including those discussed above, all of which are inherently difficult to forecast. The company undertakes no obligation to publicly release any revision (programming) revision - A release of a piece of software which is not a major release or a bugfix, but only introduces small changes or new features. to any forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. to reflect any future events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or .
ACXIOM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)
March 31, March 31,
2000 1999
----------- -----------
Assets
------
Current assets:
Cash and cash equivalents $ 23,924 12,604
Trade accounts receivable, net 198,818 184,799
Refundable income taxes -- 12,651
Deferred income taxes 18,432 30,643
Other current assets 98,872 61,302
----------- -----------
Total current assets 340,046 301,999
----------- -----------
Property and equipment 376,459 341,841
Less - Accumulated depreciation
and amortization 126,783 115,460
----------- -----------
Property and equipment, net 249,676 226,381
----------- -----------
Software, net of accumulated
amortization 58,964 37,400
Excess of cost over fair value
of net assets acquired 145,082 122,483
Other assets 311,528 201,537
----------- -----------
$ 1,105,296 889,800
=========== ===========
Liabilities and Stockholders' Equity
------------------------------------
Current liabilities:
Current installments of
long-term debt 23,156 23,355
Trade accounts payable 54,016 60,216
Accrued merger and integration
costs 15,106 33,181
Accrued payroll and related
expenses 26,483 18,224
Other accrued expenses 31,779 25,744
Deferred revenue 19,995 7,195
Income taxes 9,473 --
----------- -----------
Total current liabilities 180,008 167,915
----------- -----------
Long-term debt, excluding current
installments 289,234 325,223
Deferred income taxes 48,324 38,889
Stockholders' equity:
Common stock 8,831 8,106
Additional paid-in capital 325,783 186,011
Retained earnings 257,376 167,013
Accumulated other comprehensive
income (loss) (1,295) (324)
Treasury stock, at cost (2,965) (3,033)
----------- -----------
Total stockholders' equity 587,730 357,773
----------- -----------
Commitments and contingencies
$ 1,105,296 889,800
=========== ===========
ACXIOM CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
For the Three Months Ended
March 31,
---------------------------
2000 1999
---------------------------
Revenue 261,811,000 215,605,000
Operating costs and expenses:
Salaries and benefits 90,728,000 81,006,000
Computer, communications and
other equipment 42,672,000 28,909,000
Data costs 32,611,000 30,818,000
Other operating costs and expenses 48,435,000 39,828,000
Special charges 0 0
------------ ------------
Total operating costs and expenses 214,446,000 180,561,000
------------ ------------
Income (loss) from operations 47,365,000 35,044,000
------------ ------------
Other income (expense):
Interest expense (5,555,000) (4,476,000)
Other, net 1,128,000 607,000
------------ ------------
(4,427,000) (3,869,000)
------------ ------------
Earnings (loss) before income taxes 42,938,000 31,175,000
Income taxes 16,102,000 11,544,000
------------ ------------
Net earnings (loss) 26,836,000 19,631,000
============ ============
Earnings (loss) per share:
Basic 0.31 0.25
============ ============
Diluted 0.29 0.22
============ ============
ACXIOM CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
For the Twelve Months Ended
March 31,
---------------------------
2000 1999
---------------------------
Revenue 964,460,000 754,057,000
Operating costs and expenses:
Salaries and benefits 361,768,000 283,659,000
Computer, communications and
other equipment 151,816,000 111,876,000
Data costs 113,083,000 111,395,000
Other operating costs and expenses 173,909,000 129,764,000
Special charges 0 118,747,000
------------ ------------
Total operating costs and expenses 800,576,000 755,441,000
------------ ------------
Income (loss) from operations 163,884,000 (1,384,000)
------------ ------------
Other income (expense):
Interest expense (23,532,000) (17,393,000)
Other, net 4,225,000 6,478,000
------------ ------------
(19,307,000) (10,915,000)
------------ ------------
Earnings (loss) before income taxes 144,577,000 (12,299,000)
Income taxes 54,214,000 2,843,000
------------ ------------
Net earnings (loss) 90,363,000 (15,142,000)
============ ============
Earnings (loss) per share:
Basic 1.06 (0.19)
============ ============
Diluted 1.00 (0.19)
============ ============
ACXIOM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Dollars in thousands)
For the Twelve Months Ended
March 31
2000 1999
--------- ---------
Cash flows from operating activities:
Net earnings (loss) $ 90,363 (15,142)
Non-cash operating activities:
Depreciation and amortization 86,529 64,097
Loss (gain) on disposal of assets 354 26
Provision for returns and doubtful
accounts 1,559 2,223
Deferred income taxes 21,646 (23,854)
Tax benefit of stock options and
warrants exercised 15,921 36,393
ESOP compensation -- 2,055
Special charges -- 118,747
Changes in operating assets
and liabilities:
Accounts receivable (25,081) (61,286)
Other assets (77,680) (62,446)
Accounts payable and other
liabilities 8,742 27,983
Merger and integration costs (17,795) (28,385)
--------- ---------
Net cash provided by operating
activities 104,558 60,411
--------- ---------
Cash flows from investing
activities:
Disposition of assets 4,148 733
Development of software (37,317) (18,544)
Capital expenditures (120,616) (127,880)
Proceeds from sale
and leaseback transaction 34,763 --
Sales of marketable securities -- 11,794
Investments in joint ventures (5,774) (10,400)
Net cash paid in acquisitions (32,960) (45,983)
--------- ---------
Net cash used by investing
activities (157,756) (190,280)
--------- ---------
Cash flows from financing
activities:
Proceeds from debt 194,657 18,939
Payments of debt (215,012) (18,607)
Sale of common stock 84,970 24,566
--------- ---------
Net cash provided by
financing activities 64,615 24,898
--------- ---------
Effect of exchange rate
changes on cash (97) (77)
--------- ---------
Net decrease in cash and
cash equivalents 11,320 (105,048)
Cash and cash equivalents at
beginning of period 12,604 117,652
--------- ---------
Cash and cash equivalents
at end of period $ 23,924 12,604
--------- ---------
Supplemental cash flow
information: Cash paid
(received) during the
period for:
Interest $ 25,902 15,608
Income taxes (5,459) (4,715)
--------- ---------
ACXIOM CORPORATION AND SUBSIDIARIES
REVENUES BY SEGMENT
(Unaudited)
For the Three Months Ended
March 31,
----------------------------
2000 1999
------------ ------------
Services 160,867,000 135,583,000
Data 64,053,000 50,429,000
I. T. Management 55,792,000 40,808,000
Intercompany eliminations (18,901,000) (11,215,000)
------------ ------------
Total Revenue 261,811,000 215,605,000
============ ============
ACXIOM CORPORATION AND SUBSIDIARIES
REVENUES BY SEGMENT
(Unaudited)
For the Twelve Months Ended
March 31,
----------------------------
2000 1999
------------ ------------
Services 609,740,000 453,119,000
Data 232,635,000 188,020,000
I. T. Management 194,908,000 154,526,000
Intercompany eliminations (72,823,000) (41,608,000)
------------ ------------
Total Revenue 964,460,000 754,057,000
============ ============
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