After a string of quarterly losses, Acxiom Corp. on Wednesday reported its first profit for the company's 2015 fiscal year.
The Little Rock-based company turned a profit of $4.2 million for its third quarter, which ended on Dec. 31, down from $15.1 million during the same period a year ago.
Acxiom said its earnings fell because of expenses from business restructuring, noncash compensation, and declines in its information technology infrastructure management.
Acxiom recorded a $7.6 million loss in the first quarter of fiscal 2015 and a $1.5 million loss in the second quarter.
The company had earnings per share of 5 cents, compared with 19 cents during the third quarter in fiscal 2014.
Brett Huff, an analyst with Stephens Inc. said before the company released its report that he expected Acxiom to post an earnings per share loss of 6 cents.
Earnings per share were helped by a tax adjustment of 4 cents, the company said.
Acxiom shares fell 3 cents to close Wednesday at $19.28 on the Nasdaq stock exchange in New York. The company released its financial results after the market closed.
The company reported a quarterly revenue of $260.4 million, a drop from $268.8 million during the previous year.
"While we continue to strengthen our marketing and data services business, we are experiencing great momentum with [Audience Operating System] and LiveRamp," Chief Executive Officer Scott Howe said in a statement.
"We added 25 new [Audience Operating System] and LiveRamp customers during the quarter, more than doubled our subscription revenue year-over-year and expect to exit [fiscal 2015] with a revenue run-rate of roughly $80 million," he said.
Acxiom acquired LiveRamp, a startup marketing service company, last year for $310 million.
During the third quarter, Acxiom signed marketing and data service agreements with Guardian Media Group and Payless Shoe Source, the company said.
Acxiom is a data broker that collects consumer information by monitoring shopping habits and using client data.
Acxiom also extended its share repurchasing program through Nov. 12.
The company did not buy back any shares in the third quarter. Since the start of its repurchasing program it has purchased 12.9 million shares, or about 16 percent of common stock, for $202 million.
Business on 02/05/2015