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Acxiom Corp.

ACXIOM CORP.

Reports First-Quarter Loss

CONWAY -- Acxiom Corp.'s consolidated revenue for the first quarter that ended June 30 was $20,064,000, compared with $23,617,000 for the first quarter that ended June 30, 1990, a 15 percent decrease.

The company reported a net loss of $2,047,000, 43 cents a share, for the first quarter, compared to net income of $480,000, 10 cents a share, for the same quarter a year ago.

The pretax loss was $2,967,000, of which about $2 million represented non-recurring items resulting from personnel reductions and increases in reserves.

"The effects of the recession and the postal-rate increase were most strongly felt in March and April," said Charles Morgan Jr., chief executive officer, president and chairman of the board. "But our revenues have begun to rebound in the past two months. In fact, we have shown profits from operations for the combined months of May and June. With the full impact of our expense-reduction measures in effect, we expect to be profitable in the second quarter."

During the first quarter, Acxiom entered into an agreement to design, develop and maintain a marketing data base system for Meredith Corp., a diversified media company involved in magazine and book publishing, television broadcasting and residential real estate marketing franchising. Meredith's largest publications are Ladies Home Journal and Better Homes and Gardens.

Also, Highlights for Children signed a contract for Acxiom software. Acxiom will provide development, conversion and software maintenance for the Ohio-based publishing company.

"We expect to finalize more new business relationships and introduce some improved products that will positively impact our revenue for fiscal 1992," Morgan said. "We are optimistic about the outlook for the remainder of the year."

Contact: Dawn Dyson, Acxiom Corp., 301 Industrial Blvd., Conway, 72032-7103, 329-6836.
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Title Annotation:Public company corporate reports
Publication:Arkansas Business
Article Type:company profile
Date:Aug 12, 1991
Words:299
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