Acxiom posts profit
of $22.9M in its 3Q
Acxiom Corp. on Tuesday reported a profit of $22.9 million for its fiscal third quarter, almost 20 times more than $1.1 million in the same quarter in 2016, the Conway-based data provider said Tuesday.
Acxiom earned 28 cents per share in the third quarter, which ended Dec. 31, up from 1 cent per share in the same period of 2016 and better than the average estimate of 24 cents a share projected by five analysts in a survey by Thomson Reuters.
Shares of Acxiom rose 64 cents to close Tuesday at $25.85 on the Nasdaq exchange. Acxiom released the quarterly report after the market closed.
The company reported $235 million in revenue, a 5 percent increase over the third quarter in 2016.
The quarter was led by "the strong performance of our Connectivity division," Acxiom Chief Executive Officer Scott Howe said.
"While revenue in Audience Solutions was softer than expected, we continue to be pleased with our ongoing ability to generate meaningful cash flows in both Marketing Services and Audience Solutions," Howe said.
-- David Smith
Utility sets carbon
cuts at 60% by '30
American Electric Power, the parent company of Southwestern Electric Power Co., plans to cut carbon dioxide emissions 60 percent by 2030 from 2000 levels, the Columbus, Ohio-based utility said Tuesday.
SWEPCO has about 116,000 customers in western Arkansas.
American Electric plans to reduce its carbon dioxide emissions through investments in renewable generation and advanced technologies; investment in transmission and distribution systems to improve efficiency; increased use of natural gas; and expanded demand response and energy-efficiency programs.
American Electric said its largest renewable energy investment is expected to be the $4.5 billion, 2,000-megawatt Wind Catcher Energy Connection project in Oklahoma.
-- David Smith
Rebound adds 6.18
to Arkansas Index
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 6.18 to 403.33 Tuesday.
"U.S. stocks rebounded on Tuesday, with major indexes up 2 percent following the biggest one-day drops for the S&P 500 and the Dow in more than six years," said Chris Harkins, managing director with Raymond James & Associates in Little Rock.
Total volume for the index was 24.9 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 02/07/2018