Acxiom, May & Speh Report Strong Quarters

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With a merger on the horizon, both Acxiom Corp. and May & Speh Inc. this week issued strong quarterly reports.

Acxiom, Conway, AK, reported its consolidated revenue for the first quarter ended June 30 was $128.6 million, up 28 percent from the same quarter a year ago. Net earnings were $7.3 million, up 37 percent from the same quarter last year. Diluted earnings per share were 12 cents, up from 9 cents a year ago.

Acxiom's divisions reported first-quarter revenue as follows: alliances, $37.9 million, up 34 percent over the prior year; services, $45.8 million, up 28 percent; data products, $35.5 million, up 22 percent; and international, $9.4 million, up 29 percent.

"All of our operating divisions reported revenue growth in excess of 20 percent, and new business activity is strong," said Charles Morgan, chairman and company leader.

May & Speh, Downers Grove, IL, reported revenue for the third quarter ended June 30, was $30.2 million, an increase of 28 percent over the same quarter last year. Diluted earnings per share for the quarter were 15 cents compared to 12 cents a year ago. May & Speh's direct marketing services revenue rose 22 percent to $17.2 million, and information technology outsourcing revenue rose 38 percent to $35.7 million.

The company reported its net income for the quarter was $4.1 million, an increase of 32 percent over the same quarter last year. May & Speh also said its operating income for the quarter was $6.9 million, up 29 percent from the same period last year. It reported its operating margin for the quarter was 22.8 percent, compared to 22.6 percent last year.

In May, Acxiom and May & Speh announced they had agreed to merge. According to the companies, the merger is on schedule pending regulatory approval and is expected to be completed by the end of September. Under terms of the agreement, Acxiom will exchange .80 shares of Acxiom common stock for each share of May & Speh common stock.

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