Acxiom Announces Second-Quarter Financial Results; Strong Cash Flow Continues.To download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. high-resolution high-res·o·lu·tion adj. 1. Relating to an image that has fine detail. 2. a. Of or relating to an output device that produces images that contain a large number of dots per unit of area and are therefore sharp and , print-ready JPEG JPEG in full Joint Photographic Experts Group Standard computer file format for storing graphic images in a compressed form for general use. JPEG images are compressed using a mathematical algorithm. images, click on the thumbnail A miniature representation of a page or image that is used to identify a file by its contents. Clicking the thumbnail opens the file. Thumbnails are an option in file managers, such as Windows Explorer, and they are found in photo editing and graphics program to quickly browse multiple image above. WARNING: these images are very large (800K+) Click here for caption Business Editors NOTE TO MEDIA: Multimedia assets available A spreadsheet spreadsheet Computer software that allows the user to enter columns and rows of numbers in a ledgerlike format. Any cell of the ledger may contain either data or a formula that describes the value that should be inserted therein based on the values in other cells. is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.102203/bb9 LITTLE ROCK, Ark.--(BUSINESS WIRE)--Oct. 22, 2003 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. (R) Corporation (Nasdaq: ACXM) today announced revenue and earnings results for the second quarter ended September September: see month. 30, 2003. Revenue of $241.1 million and 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 of $.13 compares to the Company's previous estimate of $240 million to $245 million in revenue and $.13 to $.15 in diluted earnings per share. Operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. of $49.9 million and free cash flow of $35.8 million exceeded internal expectations. For the last twelve months, operating cash flow has totaled $238 million and free cash flow has totaled $178 million. Acxiom will hold a conference call at 4:30 p.m. CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT today to discuss this information further. Interested parties are invited to listen to the call, which will be broadcast via the 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 at www.acxiom.com. "Our financial results continued to be impacted by a less than robust economic environment," 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. "However, there are several positives at work in our business. Our cash flow remains strong and the new business pipeline continues to grow. As we meet with more of our clients about our new grid-based solution architecture, the excitement continues to grow as they come to understand the improvements it will bring to their business. We believe this offering will attract new clients and will lead existing clients to increase their business with us." Highlights of Acxiom's second-quarter performance include: -- Operating cash flow of $49.9 million and free cash flow of $35.8 million, marking the ninth consecutive quarter of strong cash flow performance for the Company. The free cash flow of $35.8 million is a non-GAAP financial measure and a reconciliation to the comparable GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). measure, operating cash flow, is attached to this release. -- New contracts that will deliver $16 million in annual revenue and renewals that total $6 million in annual revenue. -- Committed new deals in the pipeline that are expected to generate $60 million in annual revenue. Outlook The financial projections stated today are based on the Company's current expectations. These projections are forward looking, and actual results may differ materially. These projections do not include the potential impact of any mergers, acquisitions, divestitures or other business combinations that may be completed in the future. The forecast is based on the assumption that there will be no substantial change in the general economic environment for the remainder of the 2004 fiscal year ending March 31, 2004. For the last six months of the 2004 fiscal year, the Company expects revenue of $500 million to $520 million and earnings per share of $.40 to $.42. The Company also may benefit from one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. items during the last six months of the fiscal year, which could add another $.05 or more to its earnings per share. Including one-time items recorded in the first quarter and anticipated in the last six months of the fiscal year, the Company estimates earnings per share in the range of $.70 to $.78, operating cash flow of $195 million, free cash flow of $135 million and revenue of approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $980 million to $1 billion for the 2004 fiscal year ending March 31, 2004. About Acxiom Acxiom Corporation (Nasdaq: ACXM) integrates data, services and technology to create and deliver customer and information management solutions for many of the largest, most respected companies in the world. The core components of Acxiom's innovative solutions are Customer Data Integration (CDI CDI compact disc interactive: a system for storing a mix of software, data, audio, and compressed video for interactive use under processor control ) technology, data, database services, IT 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. , consulting and analytics, and privacy leadership. Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas Little Rock, Arkansas required military intervention to desegregate schools (1957–1958). [Am. Hist.: Van Doren, 556–557] See : Bigotry , with locations 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 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. and Japan. This release and the scheduled conference call include a discussion of free cash flow, a non-GAAP financial measure. There is a reconciliation of this measure to the comparable GAAP measure, operating cash flow, attached to this press release. This release and today's conference call contain forward-looking statements 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. that are subject to certain risks and uncertainties that could cause actual results to differ materially; such statements include but are not necessarily limited to the following: 1) that the projected revenue, earnings, earnings per share, operating cash flow and free cash flow referred to under the caption "Outlook" above will meet or exceed the estimated amount; 2) that the business pipeline and that our current cost structure will allow the Company to continue to meet or exceed revenue, earnings and cash flow projections A Cash Flow Projection is an attempt to forecast the cash flows that will be generated by an asset, often a company, over a specified time frame. Methodology Projections can be made with varying levels of detail, but any cash flow projection for a business entails ; 3) that new contracts and contract renewals will generate the indicated amounts of revenue; 4) that the Company has committed new deals in the pipeline that are expected to deliver the indicated amounts; 5) that Acxiom is well positioned for success going forward; 6) that the future results of the Company will be within the indicated ranges; 7) that there will be no substantial change in the general economic environment for the remainder of the 2004 fiscal year, ending March 31, 2004; 8) that the Company will continue to use cash to repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. stock and reduce debt and 9) that new products and services will produce the expected results. The following are important factors, among others, that could cause actual results to differ materially from these forward-looking statements: The possibility that certain contracts may not be closed or closed within the anticipated time frames; the possibility that certain contracts may not generate the anticipated revenue or profitability; the possibility that economic or other conditions might lead to a reduction in demand for the Company's products and services; the possibility that the current economic slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. may worsen wors·en tr. & intr.v. wors·ened, wors·en·ing, wors·ens To make or become worse. worsen Verb to make or become worse worsening adjn 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. persist for an unpredictable period of time; the possibility that economic conditions will not be as expected; the possibility that significant customers may experience extreme, severe economic difficulty; the possibility that the fair value of certain assets of the company may not be equal to the carrying value Carrying Value Also know as "book value," it is a company's total assets minus intangible assets and liabilities, such as debt. Notes: This is different than market value, as it can be higher or lower depending on the circumstances. of those assets now or in future time periods; the possibility that sales cycles may lengthen length·en tr. & intr.v. length·ened, length·en·ing, length·ens To make or become longer. length  en·er n. ; 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 and avoid unanticipated costs; the continued availability of
credit upon satisfactory terms and conditions; 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, technologies or services by other companies; potential pricing pressure due to market conditions and/or competitive products and services; changes in consumer or 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 difficulties encountered when entering new markets or industries; changes in the legislative, accounting, 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 affecting the Company's business including but not limited to litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , 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 possibility that the amount of ad hoc For this purpose. Meaning "to this" in Latin, it refers to dealing with special situations as they occur rather than functions that are repeated on a regular basis. See ad hoc query and ad hoc mode. , volume based and project work will not be as expected; 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 or power sources; 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 U.S., 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. Acxiom undertakes no obligation to update the information contained in this press release or any other forward-looking statement.
ACXIOM CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except earnings per share)
For the Three Months Ended
September 30,
--------------------------
2003 2002
--------------------------
Revenue 241,095 235,396
----------- -----------
Operating costs and expenses:
Salaries and benefits 80,522 75,050
Computer, communications and
other equipment 64,106 63,829
Data costs 32,224 29,787
Other operating costs and expenses 41,527 43,197
Gains, losses and nonrecurring items,
net - (4,102)
----------- -----------
Total operating costs and
expenses 218,379 207,761
----------- -----------
Income from operations 22,716 27,635
----------- -----------
Other income (expense):
Interest expense (4,889) (5,068)
Other, net 121 1,551
----------- -----------
(4,768) (3,517)
----------- -----------
Earnings before income taxes 17,948 24,118
Income taxes 6,730 8,592
----------- -----------
Net earnings 11,218 15,526
=========== ===========
Earnings per share:
Basic 0.13 0.18
=========== ===========
Diluted 0.13 0.17
=========== ===========
ACXIOM CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except earnings per share)
For the Six Months Ended
September 30,
--------------------------
2003 2002
--------------------------
Revenue 477,777 460,802
Operating costs and expenses:
Salaries and benefits 169,269 149,842
Computer, communications and
other equipment 130,392 126,855
Data costs 62,471 58,731
Other operating costs and expenses 82,703 80,610
Gains, losses and nonrecurring items,
net (1,008) (4,559)
----------- -----------
Total operating costs and
expenses 443,827 411,479
----------- -----------
Income from operations 33,950 49,323
----------- -----------
Other income (expense):
Interest expense (9,654) (10,395)
Other, net 886 1,542
----------- -----------
(8,768) (8,853)
----------- -----------
Earnings before income taxes 25,182 40,470
Income taxes 2,701 14,479
----------- -----------
Net earnings 22,481 25,991
=========== ===========
Earnings per share:
Basic 0.26 0.29
=========== ===========
Diluted 0.25 0.28
=========== ===========
ACXIOM CORPORATION AND SUBSIDIARIES
CALCULATION OF EARNINGS PER SHARE
(Unaudited)
(In thousands, except earnings per share)
For the For the
Three Months Ended Six Months Ended
September 30, September 30,
------------------- -------------------
2003 2002 2003 2002
------------------- -------------------
Basic earnings per share:
Numerator - net earnings 11,218 15,526 22,481 25,991
Denominator -
weighted-average shares
outstanding 85,236 88,481 85,839 88,131
--------- --------- --------- ---------
Basic earnings per
share 0.13 0.18 0.26 0.29
========= ========= ========= =========
Diluted earnings per share:
Numerator:
Net earnings 11,218 15,526 22,481 25,991
Interest expense on
convertible bonds (net
of tax benefit) 1,026 1,050 2,051 2,100
--------- --------- --------- ---------
12,244 16,576 24,532 28,091
--------- --------- --------- ---------
Denominator:
Weighted-average shares
outstanding 85,236 88,481 85,839 88,131
Dilutive effect of
common stock options
and warrants 1,937 2,354 1,770 2,411
Dilutive effect of
convertible debt 9,589 9,589 9,589 9,589
--------- --------- --------- ---------
96,762 100,424 97,198 100,131
--------- --------- --------- ---------
Diluted earnings
per share 0.13 0.17 0.25 0.28
========= ========= ========= =========
ACXIOM CORPORATION AND SUBSIDIARIES
REVENUES BY SEGMENT
(Unaudited)
(Dollars in thousands)
For the Three Months Ended
September 30,
-------------------------------
2003 2002
------------- ------------
Services 184,068 178,893
Data and Software Products 46,755 45,059
I. T. Management 60,967 56,907
Intercompany eliminations (50,695) (45,463)
------------- ------------
Total Revenue 241,095 235,396
============= ============
For the Six Months Ended
September 30,
-------------------------------
2003 2002
------------- ------------
Services 359,760 348,262
Data and Software Products 87,910 83,431
I. T. Management 122,912 113,368
Intercompany eliminations (92,805) (84,259)
------------- ------------
Total Revenue 477,777 460,802
============= ============
ACXIOM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)
September 30, March 31,
2003 2003
------------ ------------
Assets
------
Current assets:
Cash and cash equivalents $ 3,649 $ 5,491
Trade accounts receivable, net 185,402 189,704
Deferred income taxes 46,056 46,056
Refundable income taxes - 2,576
Other current assets 40,276 45,288
------------ ------------
Total current assets 275,383 289,115
------------ ------------
Property and equipment 427,169 389,168
Less - accumulated depreciation and
amortization 206,798 180,862
------------ ------------
Property and equipment, net 220,371 208,306
------------ ------------
Software, net of accumulated amortization 64,711 63,095
Goodwill 223,765 221,184
Purchased software licenses, net of
accumulated amortization 158,975 161,432
Unbilled and notes receivable, excluding
current portions 14,093 20,249
Deferred costs, net of accumulated
amortization 118,360 108,444
Other assets, net 27,060 21,421
------------ ------------
$ 1,102,718 $ 1,093,246
============ ============
Liabilities and Stockholders' Equity
------------------------------------
Current liabilities:
Current installments of long-term
obligations 47,816 29,491
Trade accounts payable 30,726 28,760
Accrued merger, integration and
impairment costs 30 584
Accrued payroll and related expenses 14,841 14,234
Other accrued expenses 39,059 38,689
Deferred revenue 52,811 59,907
Income taxes 8,399 -
------------ ------------
Total current liabilities 193,682 171,665
------------ ------------
Long-term obligations:
Long-term debt and capital leases, net of
current installments 252,723 233,843
Software and data licenses, net of
current installments 54,398 55,834
------------ ------------
Total long-term obligations 307,121 289,677
------------ ------------
Deferred income taxes 62,606 69,348
Commitments and contingencies
Stockholders' equity:
Common stock 9,068 9,015
Additional paid-in capital 339,971 333,715
Retained earnings 276,039 253,558
Accumulated other comprehensive loss (651) (2,911)
Treasury stock, at cost (85,118) (30,821)
------------ ------------
Total stockholders' equity 539,309 562,556
------------ ------------
$ 1,102,718 $ 1,093,246
============ ============
ACXIOM CORPORATION AND SUBSIDIARIES
RECONCILIATION OF FREE CASH FLOW TO OPERATING CASH FLOW
(Unaudited)
(Dollars in thousands)
Qtr ended Qtr ended Qtr ended Qtr ended Yr ended
6/30/2001 9/30/2001 12/31/2001 3/31/2002 3/31/2002
Net cash
provided by
operating
activities (39,280) 69,300 60,493 60,092 150,605
Proceeds
received from
disposition
of assets 127 - - 46 173
Capitalized
software (5,935) (5,464) (5,832) (6,890) (24,121)
Capital
expenditures (8,789) - (2,612) (3,474) (14,875)
Deferral of
costs (8,690) (18,012) (14,077) (7,352) (48,131)
Proceeds from
sale and
leaseback
transaction - 1,964 4,035 - 5,999
-------------------------------------------------------
Free cash flow (62,567) 47,788 42,007 42,422 69,650
=======================================================
Qtr ended Qtr ended Qtr ended Qtr ended Yr ended
6/30/2002 9/30/2002 12/31/2002 3/31/2003 3/31/2003
Net cash
provided by
operating
activities 60,243 53,446 76,992 63,112 253,793
Proceeds
received from
disposition
of assets 45 155 - 93 293
Capitalized
software (8,652) (8,958) (8,726) (8,237) (34,573)
Capital
expenditures (1,916) (3,000) (5,893) (2,403) (13,212)
Deferral of
costs (3,240) (4,108) (3,796) (3,883) (15,027)
Proceeds from
sale and
leaseback
transaction - 7,729 - - 7,729
-------------------------------------------------------
Free cash flow 46,480 45,264 58,577 48,682 199,003
=======================================================
Forecast
Qtr ended Qtr ended Yr ended
6/30/2003 9/30/2003 3/31/2004
Net cash
provided by
operating
activities 48,125 49,909 195,000
Proceeds
received from
disposition
of assets 506 192 -
Capitalized
software (6,335) (7,296) (28,000)
Capital
expenditures (1,588) (3,036) (15,000)
Deferral of
costs (6,026) (4,006) (17,000)
--------------------- ----------
Free cash flow 34,682 35,763 135,000
===================== ==========
ACXIOM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Dollars in thousands)
For the Three Months Ended
September 30,
---------------------------
2003 2002
---------- ----------
Cash flows from operating activities:
Net earnings 11,218 10,465
Non-cash operating activities:
Depreciation and amortization 37,140 28,174
Loss (gain) on disposal or impairment
of assets, net - -
Deferred income taxes - 7,552
Changes in operating assets and
liabilities:
Accounts receivable (1,199) 85
Other assets 6,765 34,079
Accounts payable and other
liabilities (3,600) (19,546)
Merger, integration and impairment
costs (415) (566)
---------- ----------
Net cash provided by operating
activities 49,909 60,243
---------- ----------
Cash flows from investing activities:
Proceeds received from the
disposition of assets 192 45
Capitalized software (7,296) (8,652)
Capital expenditures (3,036) (1,916)
Investments in joint ventures and
other companies - (1,052)
Deferral of costs (4,006) (3,240)
Payments received from investments 159 -
Net cash paid in acquisitions - (772)
---------- ----------
Net cash used by investing
activities (13,987) (15,587)
---------- ----------
Cash flows from financing activities:
Proceeds from debt 29,286 73,707
Payments of debt (50,233) (127,972)
Sale of common stock 3,859 6,168
Acquisition of treasury stock (20,032) -
---------- ----------
Net cash used by financing
activities (37,120) (48,097)
---------- ----------
Effect of exchange rate changes on
cash (15) 44
---------- ----------
Net increase (decrease) in cash and
cash equivalents (1,213) (3,397)
Cash and cash equivalents at beginning
of period 4,862 5,676
---------- ----------
Cash and cash equivalents at end of
period 3,649 2,279
---------- ----------
Supplemental cash flow information:
Cash paid (received) during the
period for:
Interest 6,794 6,751
Income taxes (2,533) (375)
Noncash investing and financing
activities:
Note received in exchange for sale
of operations - 736
Issuance of warrants - 1,317
Enterprise software licenses
acquired under long-term obligation 991 -
Acquisition of property and
equipment under capital lease 14,531 -
Construction of asset under
construction loan 2,610 -
---------- ----------
ACXIOM CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Dollars in thousands)
For the Six Months Ended
September 30,
2003 2002
---------- ----------
Cash flows from operating activities:
Net earnings 22,481 25,991
Non-cash operating activities:
Depreciation and amortization 71,036 56,259
Gain disposal or impairment of assets,
net (1,008) (51)
Deferred income taxes (6,742) 7,552
Changes in operating assets and
liabilities:
Accounts receivable 4,810 (6,907)
Other assets 8,826 45,966
Accounts payable and other
liabilities (815) (13,752)
Merger, integration and impairment
costs (554) (1,369)
---------- ----------
Net cash provided by operating
activities 98,034 113,689
---------- ----------
Cash flows from investing activities:
Proceeds received from the
disposition of operations 7,684 259
Proceeds received from the
disposition of assets 698 200
Payments received from investments 1,360 -
Capitalized software (13,631) (17,610)
Capital expenditures (4,624) (4,916)
Investments in joint ventures and
other companies (5,000) (1,052)
Deferral of costs (10,032) (7,348)
Proceeds from sale and leaseback
transaction - 7,729
Net cash paid in acquisitions - (8,272)
---------- ----------
Net cash used by investing
activities (23,545) (31,010)
---------- ----------
Cash flows from financing activities:
Proceeds from debt 82,473 82,516
Payments of debt (110,888) (156,700)
Sale of common stock 6,709 12,141
Acquisition of treasury stock (54,697) -
---------- ----------
Net cash used by financing
activities (76,403) (62,043)
---------- ----------
Effect of exchange rate changes on cash 72 80
---------- ----------
Net increase (decrease) in cash and cash
equivalents (1,842) 20,716
Cash and cash equivalents at beginning
of period 5,491 5,676
---------- ----------
Cash and cash equivalents at end of
period 3,649 26,392
---------- ----------
Supplemental cash flow information:
Cash paid (received) during the
period for:
Interest 10,302 13,453
Income taxes (1,556) (40,281)
Noncash investing and financing
activities:
Acquisition of land in exchange for
debt 2,698 -
Acquisition of data under long-term
obligation 18,340 -
Note received in exchange for sale
of operations - 736
Issuance of warrants - 1,317
Enterprise software licenses
acquired under long-term obligation 9,212 2,828
Acquisition of property and
equipment under capital lease 31,334 2,310
Construction of asset under
construction loan 2,610 -
---------- ----------
Note: A spreadsheet is available at URL: http://www.businesswire.com/cgi-bin/photo.cgi?pw.102203/bb9 |
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