LITTLE ROCK — Acxiom Corp.'s financial performance for the quarter ending Sept. 30 reflected the turmoil of a doomed attempt to be sold, the company said Wednesday.
Earnings were half of what they were a year earlier and chief executive Charles Morgan conceded in a conference call with analysts that "thousands of hours of meetings and analysis certainly did nothing to help results in the first half of our fiscal year." "But it has given us an informational foundation to help develop plans that we expect will in fact improve future results. I think it's safe to say that first half results show the effects of too much transaction and too little business focus. We've been operating in an atmosphere of great uncertainty throughout the entire organization. That period of uncertainty has ended."
Steven Davidoff, an assistant law professor at Wayne State University in Detroit, said it should be expected that the collapse of the buyout would contribute to a "significant and material decline in the company's revenues and earnings."
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