Acxiom fiscal Q3 revenue up 5.4%
Acxiom, a marketing services and technology provider, reported a 5.4% year-over-year revenue increase to $299.1 million in its fiscal third quarter of 2011, which ended December 31, 2010. Acxiom said January 26 that it earned $861.2 million in revenue in the first nine months of its 2011 fiscal year, a 6.2% increase compared with the previous year.
The company's fiscal Q3 net earnings increased 44.2% compared with last year to $20.1 million. Net earnings in the first nine months of FY 2011 jumped 53.1% compared with last year to $42.5 million.
The company saw $34.6 million in fiscal Q3 income from operations compared with $29.9 million in the same period of last year. Income from operations totaled $84 million for the first nine months of FY 2011, an increase of 32% compared to the prior year. Acxiom had $64.2 million in operating cash flow at the end of fiscal Q3, compared with $74.5 million at the end of fiscal Q3 2010.
The company's fiscal Q3 earnings fell short of analyst expectations, according to media reports.
“We are pleased that Acxiom delivered another solid performance in the third quarter of fiscal 2011. This represents our third consecutive quarter of year-over-year revenue and operating income growth," said John Meyer, Acxiom CEO, on an earnings conference call. He attributed the revenue growth to improvement in client spending in Acxiom's core markets, including a 50% increase in spending in China during the quarter.
Acxiom was recently mentioned as a “strong performer” in the 2011 Forrester Research Wave assessment of US database marketing service providers. Meyer said on the earnings call that the plaudit was a “recent highlight.”