[May 17, 2016] |
|
Acxiom Announces Fourth Quarter and Fiscal Year Results
Acxiom®
(Nasdaq: ACXM), an enterprise data, analytics and software-as-a-service
company, today announced financial results for its fourth quarter and
fiscal year ended March 31, 2016.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20160517006631/en/
Fourth Quarter Financial Highlights
-
Revenue: Total revenue was $225 million, up 9% compared to the
fourth quarter of last year driven by growth in each segment.
Excluding an unfavorable currency impact of approximately $1 million,
revenue was up 10%. US revenue of $205 million was up 11%
year-over-year. International revenue of $20 million increased 2% on a
constant currency basis.
-
Operating Income (Loss): GAAP operating loss from continuing
operations improved to $8 million compared to a loss of $11 million in
the prior year. Non-GAAP operating income from continuing operations
declined 7% to approximately $20 million.
-
Earnings (Loss) per Share: GAAP loss per share from continuing
operations was $0.02 compared to a loss per share of $0.12 in the
prior year. Non-GAAP diluted earnings per share from continuing
operations were $0.18, up from $0.17 a year ago.
-
Operating Cash Flow: Operating cash flow from continuing
operations was $43 million, up 47% from $29 million last year.
-
Free Cash Flow to Equity: Free cash flow to equity was $17
million, up from $2 million in the prior year.
Fiscal Year Financial Highlights
-
Revenue: Total revenue was $850 million, up 6% compared to
fiscal 2015. Excluding an unfavorable currency impact of approximately
$8 million, revenue was up 7%. US revenue of $770 million increased 9%
year-over-year. International revenue of $80 million was down 8% on a
constant currency basis. Connectivity revenue of $102 million
increased 86% year-over-year.
-
Operating Income (Loss): GAAP operating loss from continuing
operations improved to $13 million compared to a loss of $33 million
in the prior year. Non-GAAP operating income from continuing
operations improved 16% to approximately $76 million.
-
Earnings (Loss) per Share: GAAP loss per share from continuing
operations was $0.11 compared to a loss per share of $0.34 in the
prior year. Non-GAAP diluted earnings per share from continuing
operations were $0.59, up from $0.49 a year ago.
Fourth Quarter Segment Results
Marketing Services
-
Revenue was $113 million, up 3% compared to the fourth quarter of last
year. US revenue of $104 million was up 4% year-over-year.
-
Gross margin improved from 33% to 35%.
-
Operating income was $19 million, up 7% compared to the prior year.
Audience Solutions
-
Revenue was $80 million, up 4% compared to the prior year period. US
revenue of $71 million was up 6% year-over-year.
-
Gross margin improved from 55% to 58%.
-
Operating income was $30 million, down 3% compared to the prior year.
Connectivity
-
Revenue was $31 million, up 62% compared to the fourth quarter of last
year. Connectivity exited the quarter with an $110 million annualized
revenue run-rate.
-
Gross margin improved from 43% to 63%.
-
Operating loss improved by $6 million to nearly break-even.
A detailed discussion of our non-GAAP financial measures is included at
the bottom of this release, and a reconciliation between GAAP and
non-GAAP results is attached.
"Our strong fourth quarter performance capped off a year of solid
execution across each of our businesses," said Acxiom CEO Scott Howe.
"In fiscal 2016, we extended our leadership in data connectivity with
the launch of LiveRamp Customer Link™ and expansion of data onboarding
to the UK and France. At the same time, Marketing Services and Audience
Solutions had a number of key customer and partner wins. We enter fiscal
2017 from a position of strength, propelled by our recent progress and
momentum."
Recent Business Highlights
-
LiveRamp™ launched its data onboarding service in the United
Kingdom and France to meet rapidly growing demand from clients and
partners. Global and local brands can now use LiveRamp to activate
offline first and third-party data across their marketing stack.
-
Connectivity added more than 15 new customers during the quarter
and added over 40 new partner integrations. Marketers can now onboard
and activate their data across a growing network of more than 300
marketing platforms and data providers.
-
Marketing Services announced the Acxiom Marketing Analytics
Environment™, a privacy-safe, closed-loop marketing analytics
solution that allows clients to quickly leverage the power of data
science and analytics to drive improved customer experiences and
higher return on investment.
-
Acxiom was awarded the prestigious Innovation Partner Award by
Citigroup Inc. in recognition of its high level of service and
performance. Acxiom was among five companies recognized at this year's
Citi Supplier Awards event.
-
Debora Beachner Tomlin was named to the Acxiom Board of Directors. Ms.
Tomlin is a proven and respected marketing executive with a deep
understanding of the value of data-driven marketing. She currently
serves as chief marketing and distribution officer for CSAA Insurance
Group. Prior to CSAA, Ms. Tomlin held several senior leadership
positions at Capital One Bank.
-
Acxiom repurchased 731,000 shares for approximately $15 million
during the quarter. Since inception of the share repurchase
program in August 2011, Acxiom has repurchased 15.5 million shares for
$255 million.
Financial Outlook
Acxiom's guidance excludes the impact of non-cash compensation,
purchased intangible asset amortization, restructuring charges and
separation and transformation costs.
For fiscal 2017, Acxiom expects to report:
-
Revenue in the range of $870 million to $890 million
-
Non-GAAP diluted earnings per share in the range of $0.55 to
slightly higher
Conference Call
Acxiom will hold a conference call at 4:00 p.m. CT today to further
discuss this information. Interested parties are invited to listen to
the call which will be broadcast via the Internet at investors.acxiom.com.
A slide presentation will be referenced during the call and can be
accessed here.
About Acxiom
Acxiom is an enterprise data, analytics and software-as-a-service
company that uniquely fuses trust, experience and scale to fuel
data-driven results. For over 45 years, Acxiom has been an innovator in
harnessing the most important sources and uses of data to strengthen
connections between people, businesses and their partners. Utilizing a
channel and media neutral approach, we leverage cutting-edge,
data-oriented products and services to maximize customer value. Every
week, Acxiom powers more than a trillion transactions that enable better
living for people and better results for our 7,000+ global clients. For
more information about Acxiom, visit Acxiom.com.
Non-GAAP Financial Measures
The Company's press release includes (i) non-GAAP earnings from
operations and non-GAAP earnings per share, both excluding items, and
(ii) free cash flow available to equity, which is also a non-GAAP
measure. Non-GAAP earnings from operations and non-GAAP earnings per
share excluding items represent loss from the Company's continuing
operations less expenses related to gains, losses and other items,
impairment of goodwill and other assets, separation and transformation
expenses recorded in general and administrative expense, purchased
intangible asset and accelerated software amortization recorded in cost
of revenue, non-cash stock compensation recorded in both cost of revenue
and operating expenses, and accelerated amortization recorded in cost of
revenue. The Company's management believes that these non-GAAP measures
are meaningful since they represent the recurring income from the
Company's continuing operations before excluded unusual items, which are
not indicative of the Company's ordinary course of operations, and
before purchased intangible asset amortization and non-cash stock
compensation, which are recurring non-cash expenses. Management also
believes these measures are useful in comparison to other companies who
report similar measures. The non-GAAP measures are reconciled to the
corresponding GAAP measures of income (loss) from operations and
earnings (loss) per share in schedules to the press release.
Free cash flow available to equity is defined as operating cash flow
less cash used by investing activities (excluding the impact of cash
paid in acquisitions), less required payments of debt, and excluding the
impact of discontinued operations. The Company's management believes
that this measure of free cash flow available to equity is meaningful
since it represents the amount of money available from continuing
operations for the Company's discretionary spending after funding all
required obligations including scheduled debt payments, and it therefore
provides a useful measure of liquidity for assessing the amount of cash
available for general corporate and strategic purposes. Free cash flow
available to equity is reconciled to operating cash flow, the nearest
comparable GAAP measure, in a schedule attached to the press release.
Adjusted EBITDA is defined as net income or loss from continuing
operations before other expense, income taxes, depreciation and
amortization, equity in net income of affiliates, restructuring charges,
goodwill and intangible asset impairment charges, stock-based
compensation expense, gains, losses and other items, impairment of
goodwill and other assets, separation and transformation expenses
recorded in general and administrative expense, purchased intangible
asset and accelerated software amortization recorded in cost of revenue,
non-cash stock compensation recorded in both cost of revenue and
operating expenses, and accelerated amortization recorded in cost of
revenue. We use Adjusted EBITDA to measure our performance from period
to period both at the consolidated level as well as within our operating
segments and to compare our results to those of our competitors. The
Company believes that its inclusion of Adjusted EBITDA provides useful
supplementary information to and facilitates analysis by investors in
evaluating the Company's performance and trends. Adjusted EBITDA is
reconciled to Net loss from continuing operations, the nearest
comparable GAAP measure, in a schedule attached to the press release.
The non-GAAP financial measures used by the Company may not be
comparable to similarly titled measures used by other companies and
should not be considered in isolation or as substitutes for measures of
financial performance or liquidity prepared in accordance with GAAP.
Forward-Looking Statements
This release and today's conference call contains forward-looking
statements including, without limitation, statements regarding expected
levels of revenue and earnings per share. Such forward-looking
statements are subject to certain risks and uncertainties that could
cause actual results to differ materially. The following are factors,
among others, that could cause actual results to differ materially from
these forward-looking statements: the possibility that the expected
revenue from the divisions may not be realized within the expected
timeframe; the possibility that certain contracts may not generate the
anticipated revenue or profitability or may not be closed within the
anticipated time frames; the possibility that significant customers may
experience extreme, severe economic difficulty or otherwise reduce or
cancel the amount of business they do with us; the possibility that we
will not successfully complete customer contract requirements on time or
meet the service levels specified in the contracts, which may result in
contract penalties or lost revenue; the possibility that data suppliers
might withdraw data from us, leading to our inability to provide certain
products and services to our clients; the possibility that we may not be
able to attract, retain or motivate qualified technical, sales and
leadership associates, or that we may lose key associates; the
possibility that we may not be able to adequately adapt to rapidly
changing computing environments, technologies and marketing practices;
the possibility that we will not be able to continue to receive credit
upon satisfactory terms and conditions; the possibility that negative
changes in economic conditions in general or other conditions might lead
to a reduction in demand for our products and services; the possibility
that there will be changes in consumer or business information
industries and markets that negatively impact the company; the
possibility that the historical seasonality of our business may change;
the possibility that we will not be able to achieve anticipated cost
reductions and avoid unanticipated costs; the possibility that the fair
value of certain of our assets may not be equal to the carrying value of
those assets now or in future time periods; the possibility that unusual
charges may be incurred; the possibility that changes in accounting
pronouncements may occur and may impact these forward-looking
statements; the possibility that we may encounter difficulties when
entering new markets or industries; the possibility that we could
experience loss of data center capacity or interruption of
telecommunication links; the possibility that new laws may be enacted
which limit our ability to provide services to our clients and/or which
limit the use of data; and other risks and uncertainties, including
those detailed from time to time in our current and periodic reports
filed with the Securities and Exchange Commission, including our current
reports on Form 8-K, quarterly reports on Form 10-Q and annual reports
on Form 10-K, particularly the discussion under the caption "Item 1A.
RISK FACTORS" in our Annual Report on Form 10-K for the year ended March
31, 2015, which was filed with the Securities and Exchange Commission on
May 27, 2015.
With respect to the provision of products or services outside our
primary base of operations in the United States, all of the above
factors apply, along with the difficulty of doing business in numerous
sovereign jurisdictions due to differences in scale, competition,
culture, laws and regulations.
We undertake no obligation to update the information contained in this
press release or any other forward-looking statement.
Acxiom is a registered trademark of Acxiom Corporation.
To automatically receive Acxiom Corporation financial news by email,
please visit www.acxiom.com
and subscribe to email alerts.
|
ACXIOM CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF
OPERATIONS (Unaudited) (Dollars in thousands, except
earnings (loss) per share)
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31,
|
|
|
2016
|
|
2015
|
|
$ Variance
|
|
% Variance
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
224,655
|
|
|
205,734
|
|
|
18,921
|
|
|
9.2
|
%
|
|
|
|
|
|
|
|
|
|
Cost of revenue
|
|
123,626
|
|
|
127,708
|
|
|
(4,082
|
)
|
|
(3.2
|
%)
|
Gross profit
|
|
101,029
|
|
|
78,026
|
|
|
23,003
|
|
|
29.5
|
%
|
% Gross margin
|
|
45.0
|
%
|
|
37.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
Research and development
|
|
16,758
|
|
|
19,080
|
|
|
(2,322
|
)
|
|
(12.2
|
%)
|
Sales and marketing
|
|
45,842
|
|
|
31,084
|
|
|
14,758
|
|
|
47.5
|
%
|
General and administrative
|
|
35,330
|
|
|
27,469
|
|
|
7,861
|
|
|
28.6
|
%
|
Impairment of goodwill and other
|
|
6,100
|
|
|
-
|
|
|
6,100
|
|
|
-
|
|
Gains, losses and other items, net
|
|
4,763
|
|
|
11,258
|
|
|
(6,495
|
)
|
|
(57.7
|
%)
|
Total operating expenses
|
|
108,793
|
|
|
88,891
|
|
|
19,902
|
|
|
22.4
|
%
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
(7,764
|
)
|
|
(10,865
|
)
|
|
3,101
|
|
|
28.5
|
%
|
% Margin
|
|
-3.5
|
%
|
|
-5.3
|
%
|
|
|
|
|
Other expense:
|
|
|
|
|
|
|
|
|
Interest expense
|
|
(1,880
|
)
|
|
(1,898
|
)
|
|
18
|
|
|
0.9
|
%
|
Other, net
|
|
(214
|
)
|
|
(757
|
)
|
|
543
|
|
|
71.7
|
%
|
Total other expense
|
|
(2,094
|
)
|
|
(2,655
|
)
|
|
561
|
|
|
21.1
|
%
|
|
|
|
|
|
|
|
|
|
Loss from continuing operations before income taxes
|
|
(9,858
|
)
|
|
(13,520
|
)
|
|
3,662
|
|
|
27.1
|
%
|
|
|
|
|
|
|
|
|
|
Income taxes
|
|
(8,176
|
)
|
|
(4,483
|
)
|
|
(3,693
|
)
|
|
(82.4
|
%)
|
|
|
|
|
|
|
|
|
|
Net loss from continuing operations
|
|
(1,682
|
)
|
|
(9,037
|
)
|
|
7,355
|
|
|
81.4
|
%
|
|
|
|
|
|
|
|
|
|
Earnings from discontinued operations, net of tax
|
|
111
|
|
|
2,998
|
|
|
(2,887
|
)
|
|
(96.3
|
%)
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
(1,571
|
)
|
|
(6,039
|
)
|
|
4,468
|
|
|
74.0
|
%
|
|
|
|
|
|
|
|
|
|
Basic earnings (loss) per share:
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
(0.02
|
)
|
|
(0.12
|
)
|
|
0.09
|
|
|
81.2
|
%
|
Discontinued operations
|
|
0.00
|
|
|
0.04
|
|
|
(0.04
|
)
|
|
(96.3
|
%)
|
Net loss
|
|
(0.02
|
)
|
|
(0.08
|
)
|
|
0.06
|
|
|
73.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) per share:
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
(0.02
|
)
|
|
(0.12
|
)
|
|
0.09
|
|
|
81.2
|
%
|
Discontinued operations
|
|
0.00
|
|
|
0.04
|
|
|
(0.04
|
)
|
|
(96.3
|
%)
|
Net loss
|
|
(0.02
|
)
|
|
(0.08
|
)
|
|
0.06
|
|
|
73.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF
OPERATIONS (Unaudited) (Dollars in thousands, except
earnings (loss) per share)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Twelve Months Ended March 31,
|
|
|
2016
|
|
2015
|
|
$ Variance
|
|
% Variance
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
850,088
|
|
|
804,911
|
|
|
45,177
|
|
|
5.6
|
%
|
|
|
|
|
|
|
|
|
|
Cost of revenue
|
|
488,382
|
|
|
494,037
|
|
|
(5,655
|
)
|
|
(1.1
|
%)
|
Gross profit
|
|
361,706
|
|
|
310,874
|
|
|
50,832
|
|
|
16.4
|
%
|
% Gross margin
|
|
42.5
|
%
|
|
38.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
Research and development
|
|
74,247
|
|
|
74,201
|
|
|
46
|
|
|
0.1
|
%
|
Sales and marketing
|
|
146,176
|
|
|
116,494
|
|
|
29,682
|
|
|
25.5
|
%
|
General and administrative
|
|
135,385
|
|
|
130,263
|
|
|
5,122
|
|
|
3.9
|
%
|
Impairment of goodwill and other
|
|
6,829
|
|
|
-
|
|
|
6,829
|
|
|
-
|
|
Gains, losses and other items, net
|
|
12,132
|
|
|
22,600
|
|
|
(10,468
|
)
|
|
(46.3
|
%)
|
Total operating expenses
|
|
374,769
|
|
|
343,558
|
|
|
31,211
|
|
|
9.1
|
%
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
(13,063
|
)
|
|
(32,684
|
)
|
|
19,621
|
|
|
60.0
|
%
|
% Margin
|
|
-1.5
|
%
|
|
-4.1
|
%
|
|
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
Interest expense
|
|
(7,669
|
)
|
|
(7,672
|
)
|
|
3
|
|
|
0.0
|
%
|
Other, net
|
|
452
|
|
|
(991
|
)
|
|
1,443
|
|
|
145.6
|
%
|
Total other expense
|
|
(7,217
|
)
|
|
(8,663
|
)
|
|
1,446
|
|
|
16.7
|
%
|
|
|
|
|
|
|
|
|
|
Loss from continuing operations before income taxes
|
|
(20,280
|
)
|
|
(41,347
|
)
|
|
21,067
|
|
|
51.0
|
%
|
|
|
|
|
|
|
|
|
|
Income taxes
|
|
(11,632
|
)
|
|
(14,805
|
)
|
|
3,173
|
|
|
21.4
|
%
|
|
|
|
|
|
|
|
|
|
Net loss from continuing operations
|
|
(8,648
|
)
|
|
(26,542
|
)
|
|
17,894
|
|
|
67.4
|
%
|
|
|
|
|
|
|
|
|
|
Earnings from discontinued operations, net of tax
|
|
15,351
|
|
|
15,511
|
|
|
(160
|
)
|
|
(1.0
|
%)
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
6,703
|
|
|
(11,031
|
)
|
|
17,734
|
|
|
160.8
|
%
|
|
|
|
|
|
|
|
|
|
Basic earnings (loss) per share:
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
(0.11
|
)
|
|
(0.34
|
)
|
|
0.23
|
|
|
67.6
|
%
|
Discontinued operations
|
|
0.20
|
|
|
0.20
|
|
|
(0.00
|
)
|
|
(1.7
|
%)
|
Net earnings (loss)
|
|
0.09
|
|
|
(0.14
|
)
|
|
0.23
|
|
|
160.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) per share:
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
(0.11
|
)
|
|
(0.34
|
)
|
|
0.23
|
|
|
67.6
|
%
|
Discontinued operations
|
|
0.20
|
|
|
0.20
|
|
|
(0.00
|
)
|
|
(1.7
|
%)
|
Net earnings (loss)
|
|
0.09
|
|
|
(0.14
|
)
|
|
0.23
|
|
|
160.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES RECONCILIATION OF GAAP TO
NON-GAAP EPS (Unaudited) (Dollars in thousands, except
earnings (loss) per share)
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31,
|
|
For the Twelve Months Ended March 31,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from continuing operations before income taxes
|
|
(9,858
|
)
|
|
(13,520
|
)
|
|
(20,280
|
)
|
|
(41,347
|
)
|
|
|
|
|
|
|
|
|
|
Income taxes
|
|
(8,176
|
)
|
|
(4,483
|
)
|
|
(11,632
|
)
|
|
(14,805
|
)
|
|
|
|
|
|
|
|
|
|
Net loss from continuing operations
|
|
(1,682
|
)
|
|
(9,037
|
)
|
|
(8,648
|
)
|
|
(26,542
|
)
|
|
|
|
|
|
|
|
|
|
Earnings from discontinued operations, net of tax
|
|
111
|
|
|
2,998
|
|
|
15,351
|
|
|
15,511
|
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
(1,571
|
)
|
|
(6,039
|
)
|
|
6,703
|
|
|
(11,031
|
)
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.02
|
)
|
|
(0.08
|
)
|
|
0.09
|
|
|
(0.14
|
)
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
(0.02
|
)
|
|
(0.08
|
)
|
|
0.09
|
|
|
(0.14
|
)
|
|
|
|
|
|
|
|
|
|
Excluded items:
|
|
|
|
|
|
|
|
|
Purchased intangible asset amortization (cost of revenue)
|
|
4,204
|
|
|
3,781
|
|
|
15,466
|
|
|
11,454
|
|
Non-cash stock compensation (cost of revenue and operating expenses)
|
|
7,934
|
|
|
8,216
|
|
|
31,463
|
|
|
28,316
|
|
Impairment of goodwill and other
|
|
6,100
|
|
|
-
|
|
|
6,829
|
|
|
-
|
|
Restructuring charges and other adjustments (gains, losses, and
other)
|
|
4,763
|
|
|
11,258
|
|
|
12,132
|
|
|
22,600
|
|
Separation and transformation costs (general and administrative)
|
|
4,686
|
|
|
5,023
|
|
|
20,826
|
|
|
31,269
|
|
Accelerated amortization (cost of revenue)
|
|
252
|
|
|
4,316
|
|
|
1,850
|
|
|
4,316
|
|
|
|
|
|
|
|
|
|
|
Total excluded items, continuing operations
|
|
27,939
|
|
|
32,594
|
|
|
88,566
|
|
|
97,955
|
|
|
|
|
|
|
|
|
|
|
Earnings from continuing operations before income taxes and
excluding items
|
|
18,081
|
|
|
19,074
|
|
|
68,286
|
|
|
56,608
|
|
|
|
|
|
|
|
|
|
|
Income taxes
|
|
4,262
|
|
|
5,324
|
|
|
21,456
|
|
|
18,353
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net earnings
|
|
13,819
|
|
|
13,750
|
|
|
46,830
|
|
|
38,255
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
0.18
|
|
|
0.18
|
|
|
0.60
|
|
|
0.50
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
0.18
|
|
|
0.17
|
|
|
0.59
|
|
|
0.49
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average shares
|
|
76,753
|
|
|
77,427
|
|
|
77,616
|
|
|
77,106
|
|
|
|
|
|
|
|
|
|
|
Diluted weighted average shares
|
|
78,386
|
|
|
79,027
|
|
|
79,099
|
|
|
78,494
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES CALCULATION OF EARNINGS
(LOSS) PER SHARE (Unaudited) (In thousands, except
earnings (loss) per share)
|
|
|
|
|
|
|
|
For the Three Months Ended
|
|
|
|
|
|
|
|
March 31, 2016
|
|
March 31, 2015
|
|
|
|
|
|
Basic loss per share from continuing operations:
|
|
|
|
|
Numerator - net loss
|
|
(1,682
|
)
|
|
(9,037
|
)
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
76,753
|
|
|
77,427
|
|
Basic loss per share
|
|
(0.02
|
)
|
|
(0.12
|
)
|
|
|
|
|
|
Diluted loss per share from continuing operations:
|
|
|
|
|
Numerator - net loss
|
|
(1,682
|
)
|
|
(9,037
|
)
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
76,753
|
|
|
77,427
|
|
Diluted loss per share
|
|
(0.02
|
)
|
|
(0.12
|
)
|
|
|
|
|
|
Basic earnings per share from discontinued operations:
|
|
|
|
|
Numerator - net earnings
|
|
111
|
|
|
2,998
|
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
76,753
|
|
|
77,427
|
|
Basic earnings per share
|
|
0.00
|
|
|
0.04
|
|
|
|
|
|
|
Diluted earnings per share from discontinued operations:
|
|
|
|
|
Numerator - net earnings
|
|
111
|
|
|
2,998
|
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
76,753
|
|
|
77,427
|
|
|
|
|
|
|
Diluted earnings per share
|
|
0.00
|
|
|
0.04
|
|
|
|
|
|
|
Basic loss per share:
|
|
|
|
|
Numerator - net loss
|
|
(1,571
|
)
|
|
(6,039
|
)
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
76,753
|
|
|
77,427
|
|
Basic loss per share
|
|
(0.02
|
)
|
|
(0.08
|
)
|
|
|
|
|
|
Diluted loss per share:
|
|
|
|
|
Numerator - net loss
|
|
(1,571
|
)
|
|
(6,039
|
)
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
76,753
|
|
|
77,427
|
|
|
|
|
|
|
Diluted loss per share
|
|
(0.02
|
)
|
|
(0.08
|
)
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES CALCULATION OF EARNINGS
(LOSS) PER SHARE (Unaudited) (In thousands, except
earnings (loss) per share)
|
|
|
|
|
|
|
|
For the Twelve Months Ended
|
|
|
|
|
|
|
|
March 31, 2016
|
|
March 31, 2015
|
|
|
|
|
|
Basic loss per share from continuing operations:
|
|
|
|
|
Numerator - net loss
|
|
(8,648
|
)
|
|
(26,542
|
)
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
77,616
|
|
|
77,106
|
|
Basic loss per share
|
|
(0.11
|
)
|
|
(0.34
|
)
|
|
|
|
|
|
Diluted loss per share from continuing operations:
|
|
|
|
|
Numerator - net loss
|
|
(8,648
|
)
|
|
(26,542
|
)
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
77,616
|
|
|
77,106
|
|
Diluted loss per share
|
|
(0.11
|
)
|
|
(0.34
|
)
|
|
|
|
|
|
Basic earnings per share from discontinued operations:
|
|
|
|
|
Numerator - net earnings
|
|
15,351
|
|
|
15,511
|
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
77,616
|
|
|
77,106
|
|
Basic earnings per share
|
|
0.20
|
|
|
0.20
|
|
|
|
|
|
|
Diluted earnings per share from discontinued operations:
|
|
|
|
|
Numerator - net earnings
|
|
15,351
|
|
|
15,511
|
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
77,616
|
|
|
77,106
|
|
Diluted earnings per share
|
|
0.20
|
|
|
0.20
|
|
|
|
|
|
|
Basic loss per share:
|
|
|
|
|
Numerator - net earnings (loss)
|
|
6,703
|
|
|
(11,031
|
)
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
77,616
|
|
|
77,106
|
|
Diluted earnings (loss) per share
|
|
0.09
|
|
|
(0.14
|
)
|
|
|
|
|
|
Diluted loss per share:
|
|
|
|
|
Numerator - net earnings (loss)
|
|
6,703
|
|
|
(11,031
|
)
|
|
|
|
|
|
Denominator - weighted-average shares outstanding
|
|
77,616
|
|
|
77,106
|
|
Diluted earnings (loss) per share
|
|
0.09
|
|
|
(0.14
|
)
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES RESULTS BY SEGMENT (Unaudited) (Dollars
in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31,
|
|
|
2016
|
|
2015
|
|
$ Variance
|
|
% Variance
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
113,342
|
|
|
109,662
|
|
|
3,680
|
|
|
3.4
|
%
|
Audience Solutions
|
|
80,128
|
|
|
76,816
|
|
|
3,312
|
|
|
4.3
|
%
|
Connectivity
|
|
31,185
|
|
|
19,256
|
|
|
11,929
|
|
|
61.9
|
%
|
Total operating segment revenues
|
|
224,655
|
|
|
205,734
|
|
|
18,921
|
|
|
9.2
|
%
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
40,117
|
|
|
36,120
|
|
|
3,997
|
|
|
11.1
|
%
|
Audience Solutions
|
|
46,457
|
|
|
42,141
|
|
|
4,316
|
|
|
10.2
|
%
|
Connectivity
|
|
19,617
|
|
|
8,234
|
|
|
11,383
|
|
|
138.2
|
%
|
Total operating segment gross profit
|
|
106,191
|
|
|
86,495
|
|
|
19,696
|
|
|
22.8
|
%
|
|
|
|
|
|
|
|
|
|
Gross profit margin %
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
35.4
|
%
|
|
32.9
|
%
|
|
|
|
|
Audience Solutions
|
|
58.0
|
%
|
|
54.9
|
%
|
|
|
|
|
Connectivity
|
|
62.9
|
%
|
|
42.8
|
%
|
|
|
|
|
Total operating segment gross margin
|
|
47.3
|
%
|
|
42.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
19,301
|
|
|
17,984
|
|
|
1,317
|
|
|
7.3
|
%
|
Audience Solutions
|
|
29,598
|
|
|
30,594
|
|
|
(996
|
)
|
|
(3.3
|
%)
|
Connectivity
|
|
(424
|
)
|
|
(6,026
|
)
|
|
5,602
|
|
|
93.0
|
%
|
Total operating segment income from operations
|
|
48,475
|
|
|
42,552
|
|
|
5,923
|
|
|
13.9
|
%
|
|
|
|
|
|
|
|
|
|
Operating income (loss) margin %
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
17.0
|
%
|
|
16.4
|
%
|
|
|
|
|
Audience Solutions
|
|
36.9
|
%
|
|
39.8
|
%
|
|
|
|
|
Connectivity
|
|
(1.4
|
%)
|
|
(31.3
|
%)
|
|
|
|
|
Total operating segment operating margin
|
|
21.6
|
%
|
|
20.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
RESULTS BY SEGMENT
|
(Unaudited)
|
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Twelve Months Ended
|
|
|
|
|
March 31,
|
|
|
|
|
|
|
|
|
|
|
$
|
|
%
|
|
|
|
|
2016
|
|
|
2015
|
|
|
Variance
|
|
Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
|
|
449,772
|
|
|
|
446,103
|
|
|
|
3,669
|
|
|
0.8
|
%
|
Audience Solutions
|
|
|
|
297,846
|
|
|
|
303,836
|
|
|
|
(5,990
|
)
|
|
(2.0
|
%)
|
Connectivity
|
|
|
|
102,470
|
|
|
|
54,972
|
|
|
|
47,498
|
|
|
86.4
|
%
|
Total operating segment revenues
|
|
|
|
850,088
|
|
|
|
804,911
|
|
|
|
45,177
|
|
|
5.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
|
|
152,258
|
|
|
|
156,395
|
|
|
|
(4,137
|
)
|
|
(2.6
|
%)
|
Audience Solutions
|
|
|
|
167,715
|
|
|
|
158,386
|
|
|
|
9,329
|
|
|
5.9
|
%
|
Connectivity
|
|
|
|
61,199
|
|
|
|
13,322
|
|
|
|
47,877
|
|
|
359.4
|
%
|
Total operating segment gross profit
|
|
|
|
381,172
|
|
|
|
328,103
|
|
|
|
53,069
|
|
|
16.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit margin %
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
|
|
33.9
|
%
|
|
|
35.1
|
%
|
|
|
|
|
|
Audience Solutions
|
|
|
|
56.3
|
%
|
|
|
52.1
|
%
|
|
|
|
|
|
Connectivity
|
|
|
|
59.7
|
%
|
|
|
24.2
|
%
|
|
|
|
|
|
Total operating segment gross margin
|
|
|
|
44.8
|
%
|
|
|
40.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
|
|
74,371
|
|
|
|
81,247
|
|
|
|
(6,876
|
)
|
|
(8.5
|
%)
|
Audience Solutions
|
|
|
|
109,598
|
|
|
|
115,078
|
|
|
|
(5,480
|
)
|
|
(4.8
|
%)
|
Connectivity
|
|
|
|
(3,298
|
)
|
|
|
(40,069
|
)
|
|
|
36,771
|
|
|
91.8
|
%
|
Total operating segment income from operations
|
|
|
|
180,671
|
|
|
|
156,256
|
|
|
|
24,415
|
|
|
15.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss) margin %
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing Services
|
|
|
|
16.5
|
%
|
|
|
18.2
|
%
|
|
|
|
|
|
Audience Solutions
|
|
|
|
36.8
|
%
|
|
|
37.9
|
%
|
|
|
|
|
|
Connectivity
|
|
|
|
(3.2
|
%)
|
|
|
(72.9
|
%)
|
|
|
|
|
|
Total operating segment operating margin
|
|
|
|
21.3
|
%
|
|
|
19.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
RECONCILIATION OF SEGMENT RESULTS
|
(Unaudited)
|
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended
|
|
|
For the Twelve Months Ended
|
|
|
|
|
March 31,
|
|
|
March 31,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating segment gross profit
|
|
|
|
106,191
|
|
|
|
86,495
|
|
|
|
381,172
|
|
|
|
328,103
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchased intangible asset amortization
|
|
|
|
4,204
|
|
|
|
3,781
|
|
|
|
15,466
|
|
|
|
11,454
|
|
Non-cash stock compensation
|
|
|
|
706
|
|
|
|
372
|
|
|
|
2,150
|
|
|
|
1,459
|
|
Accelerated amortization
|
|
|
|
252
|
|
|
|
4,316
|
|
|
|
1,850
|
|
|
|
4,316
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
|
101,029
|
|
|
|
78,026
|
|
|
|
361,706
|
|
|
|
310,874
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating segment income from operations
|
|
|
|
48,475
|
|
|
|
42,552
|
|
|
|
180,671
|
|
|
|
156,256
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate expenses
|
|
|
|
28,300
|
|
|
|
20,823
|
|
|
|
105,168
|
|
|
|
90,985
|
|
Purchased intangible asset amortization
|
|
|
|
4,204
|
|
|
|
3,781
|
|
|
|
15,466
|
|
|
|
11,454
|
|
Non-cash stock compensation
|
|
|
|
7,934
|
|
|
|
8,216
|
|
|
|
31,463
|
|
|
|
28,316
|
|
Impairment of goodwill and other
|
|
|
|
6,100
|
|
|
|
-
|
|
|
|
6,829
|
|
|
|
-
|
|
Restructuring charges and other adjustments
|
|
|
|
4,763
|
|
|
|
11,258
|
|
|
|
12,132
|
|
|
|
22,600
|
|
Separation and transformation costs
|
|
|
|
4,686
|
|
|
|
5,023
|
|
|
|
20,826
|
|
|
|
31,269
|
|
Accelerated amortization
|
|
|
|
252
|
|
|
|
4,316
|
|
|
|
1,850
|
|
|
|
4,316
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
|
|
(7,764
|
)
|
|
|
(10,865
|
)
|
|
|
(13,063
|
)
|
|
|
(32,684
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(Unaudited)
|
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
|
March 31,
|
|
|
$
|
|
%
|
|
|
|
|
2016
|
|
|
2015
|
|
|
Variance
|
|
Variance
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
189,629
|
|
|
|
141,010
|
|
|
|
48,619
|
|
|
34.5
|
%
|
Trade accounts receivable, net
|
|
|
|
138,650
|
|
|
|
126,896
|
|
|
|
11,754
|
|
|
9.3
|
%
|
Refundable income taxes
|
|
|
|
9,834
|
|
|
|
5,239
|
|
|
|
4,595
|
|
|
87.7
|
%
|
Restricted cash held in escrow
|
|
|
|
-
|
|
|
|
31,000
|
|
|
|
(31,000
|
)
|
|
(100.0
|
%)
|
Other current assets
|
|
|
|
37,897
|
|
|
|
34,975
|
|
|
|
2,922
|
|
|
8.4
|
%
|
Assets of discontinued operations
|
|
|
|
-
|
|
|
|
172,284
|
|
|
|
(172,284
|
)
|
|
(100.0
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
|
376,010
|
|
|
|
511,404
|
|
|
|
(135,394
|
)
|
|
(26.5
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property and equipment
|
|
|
|
528,675
|
|
|
|
505,721
|
|
|
|
22,954
|
|
|
4.5
|
%
|
Less - accumulated depreciation and amortization
|
|
|
|
345,632
|
|
|
|
329,467
|
|
|
|
16,165
|
|
|
4.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property and equipment, net
|
|
|
|
183,043
|
|
|
|
176,254
|
|
|
|
6,789
|
|
|
3.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Software, net of accumulated amortization
|
|
|
|
55,735
|
|
|
|
68,962
|
|
|
|
(13,227
|
)
|
|
(19.2
|
%)
|
Goodwill
|
|
|
|
492,745
|
|
|
|
497,362
|
|
|
|
(4,617
|
)
|
|
(0.9
|
%)
|
Purchased software licenses, net of accumulated amortization
|
|
|
|
10,116
|
|
|
|
9,551
|
|
|
|
565
|
|
|
5.9
|
%
|
Deferred income taxes
|
|
|
|
6,885
|
|
|
|
381
|
|
|
|
6,504
|
|
|
1707.1
|
%
|
Other assets, net
|
|
|
|
25,315
|
|
|
|
30,173
|
|
|
|
(4,858
|
)
|
|
(16.1
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,149,849
|
|
|
|
1,294,087
|
|
|
|
(144,238
|
)
|
|
(11.1
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Current installments of long-term debt
|
|
|
|
32,243
|
|
|
|
32,232
|
|
|
|
11
|
|
|
0.0
|
%
|
Trade accounts payable
|
|
|
|
37,717
|
|
|
|
30,094
|
|
|
|
7,623
|
|
|
25.3
|
%
|
Accrued payroll and related expenses
|
|
|
|
61,309
|
|
|
|
36,659
|
|
|
|
24,650
|
|
|
67.2
|
%
|
Other accrued expenses
|
|
|
|
48,254
|
|
|
|
62,754
|
|
|
|
(14,500
|
)
|
|
(23.1
|
%)
|
Acquisition escrow payable
|
|
|
|
-
|
|
|
|
31,000
|
|
|
|
(31,000
|
)
|
|
(100.0
|
%)
|
Deferred revenue
|
|
|
|
44,477
|
|
|
|
33,620
|
|
|
|
10,857
|
|
|
32.3
|
%
|
Liabilities of discontinued operations
|
|
|
|
-
|
|
|
|
57,433
|
|
|
|
(57,433
|
)
|
|
(100.0
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
|
224,000
|
|
|
|
283,792
|
|
|
|
(59,792
|
)
|
|
(21.1
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
|
|
157,897
|
|
|
|
244,753
|
|
|
|
(86,856
|
)
|
|
(35.5
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred income taxes
|
|
|
|
53,964
|
|
|
|
55,440
|
|
|
|
(1,476
|
)
|
|
(2.7
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other liabilities
|
|
|
|
15,020
|
|
|
|
6,845
|
|
|
|
8,175
|
|
|
119.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
|
|
|
|
13,039
|
|
|
|
12,794
|
|
|
|
245
|
|
|
1.9
|
%
|
Additional paid-in capital
|
|
|
|
1,082,220
|
|
|
|
1,034,526
|
|
|
|
47,694
|
|
|
4.6
|
%
|
Retained earnings
|
|
|
|
598,501
|
|
|
|
591,798
|
|
|
|
6,703
|
|
|
1.1
|
%
|
Accumulated other comprehensive income
|
|
|
|
8,590
|
|
|
|
9,413
|
|
|
|
(823
|
)
|
|
(8.7
|
%)
|
Treasury stock, at cost
|
|
|
|
(1,003,382
|
)
|
|
|
(945,274
|
)
|
|
|
(58,108
|
)
|
|
(6.1
|
%)
|
Total stockholders' equity
|
|
|
|
698,968
|
|
|
|
703,257
|
|
|
|
(4,289
|
)
|
|
(0.6
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,149,849
|
|
|
|
1,294,087
|
|
|
|
(144,238
|
)
|
|
(11.1
|
%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(Unaudited)
|
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended
|
|
|
|
|
March 31,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
Net loss
|
|
|
|
(1,571
|
)
|
|
|
(6,039
|
)
|
Earnings from discontinued operations, net of tax
|
|
|
|
(111
|
)
|
|
|
(2,998
|
)
|
Non-cash operating activities:
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
|
22,242
|
|
|
|
25,760
|
|
Loss on disposal or impairment of assets
|
|
|
|
-
|
|
|
|
1,975
|
|
Impairment of goodwill and other
|
|
|
|
6,100
|
|
|
|
-
|
|
Deferred income taxes
|
|
|
|
(4,266
|
)
|
|
|
(2,945
|
)
|
Non-cash stock compensation expense
|
|
|
|
7,934
|
|
|
|
8,216
|
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
|
Accounts receivable
|
|
|
|
2,224
|
|
|
|
(5,829
|
)
|
Other assets
|
|
|
|
(13,531
|
)
|
|
|
11,774
|
|
Accounts payable and other liabilities
|
|
|
|
22,370
|
|
|
|
(1,450
|
)
|
Deferred revenue
|
|
|
|
1,879
|
|
|
|
908
|
|
Net cash provided by operating activities
|
|
|
|
43,270
|
|
|
|
29,372
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
Capitalized software
|
|
|
|
(4,520
|
)
|
|
|
(3,602
|
)
|
Capital expenditures
|
|
|
|
(13,601
|
)
|
|
|
(14,600
|
)
|
Data acquisition costs
|
|
|
|
(418
|
)
|
|
|
(374
|
)
|
Net cash used in investing activities
|
|
|
|
(18,539
|
)
|
|
|
(18,576
|
)
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
Payments of debt
|
|
|
|
(8,048
|
)
|
|
|
(8,347
|
)
|
Sale of common stock, net of stock acquired for withholding taxes
|
|
|
|
4,074
|
|
|
|
5,846
|
|
Excess tax benefits from share-based compensation
|
|
|
|
1,529
|
|
|
|
4,645
|
|
Acquisition of treasury stock
|
|
|
|
(15,229
|
)
|
|
|
-
|
|
Net cash used in financing activities
|
|
|
|
(17,674
|
)
|
|
|
2,144
|
|
Cash flows from discontinued operations:
|
|
|
|
|
|
|
|
From operating activities
|
|
|
|
(3,954
|
)
|
|
|
5,080
|
|
From investing activities
|
|
|
|
-
|
|
|
|
(3,004
|
)
|
From financing activities
|
|
|
|
-
|
|
|
|
(259
|
)
|
Net cash provided by (used in) discontinued operations
|
|
|
|
(3,954
|
)
|
|
|
1,817
|
|
Effect of exchange rate changes on cash
|
|
|
|
136
|
|
|
|
(638
|
)
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents
|
|
|
|
3,239
|
|
|
|
14,119
|
|
Cash and cash equivalents at beginning of period
|
|
|
|
186,390
|
|
|
|
126,891
|
|
Cash and cash equivalents at end of period
|
|
|
|
189,629
|
|
|
|
141,010
|
|
|
|
|
|
|
|
|
|
Supplemental cash flow information:
|
|
|
|
|
|
|
|
Cash paid (received) during the period for:
|
|
|
|
|
|
|
|
Interest
|
|
|
|
1,925
|
|
|
|
2,473
|
|
Income taxes
|
|
|
|
96
|
|
|
|
(4,383
|
)
|
Payments on capital leases and installment payment arrangements
|
|
|
|
-
|
|
|
|
574
|
|
Other debt payments, excluding line of credit
|
|
|
|
8,048
|
|
|
|
8,032
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(Unaudited)
|
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Twelve Months Ended
|
|
|
|
|
March 31,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
|
|
6,703
|
|
|
|
(11,031
|
)
|
Earnings from discontinued operations, net of tax
|
|
|
|
(15,351
|
)
|
|
|
(15,511
|
)
|
Non-cash operating activities:
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
|
85,463
|
|
|
|
80,447
|
|
Loss on disposal or impairment of assets
|
|
|
|
232
|
|
|
|
1,700
|
|
Impairment of goodwill and other
|
|
|
|
6,829
|
|
|
|
-
|
|
Deferred income taxes
|
|
|
|
(9,122
|
)
|
|
|
(4,965
|
)
|
Non-cash stock compensation expense
|
|
|
|
31,463
|
|
|
|
28,316
|
|
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
|
Accounts receivable
|
|
|
|
(13,014
|
)
|
|
|
3,744
|
|
Other assets
|
|
|
|
(16,174
|
)
|
|
|
12,867
|
|
Accounts payable and other liabilities
|
|
|
|
25,529
|
|
|
|
(28,129
|
)
|
Deferred revenue
|
|
|
|
11,084
|
|
|
|
(6,307
|
)
|
Net cash provided by operating activities
|
|
|
|
113,642
|
|
|
|
61,131
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
Capitalized software
|
|
|
|
(14,880
|
)
|
|
|
(18,587
|
)
|
Capital expenditures
|
|
|
|
(47,423
|
)
|
|
|
(56,952
|
)
|
Data acquisition costs
|
|
|
|
(1,553
|
)
|
|
|
(1,871
|
)
|
Net cash paid in acquisitions
|
|
|
|
(5,386
|
)
|
|
|
(265,672
|
)
|
Net cash used in investing activities
|
|
|
|
(69,242
|
)
|
|
|
(343,082
|
)
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
Payments of debt
|
|
|
|
(87,231
|
)
|
|
|
(26,601
|
)
|
Sale of common stock, net of stock acquired for withholding taxes
|
|
|
|
10,417
|
|
|
|
5,039
|
|
Excess tax benefits from share-based compensation
|
|
|
|
3,551
|
|
|
|
4,645
|
|
Acquisition of treasury stock
|
|
|
|
(52,764
|
)
|
|
|
(9,868
|
)
|
Net cash used in financing activities
|
|
|
|
(126,027
|
)
|
|
|
(26,785
|
)
|
Cash flows from discontinued operations:
|
|
|
|
|
|
|
|
From operating activities
|
|
|
|
6,323
|
|
|
|
43,853
|
|
From investing activities
|
|
|
|
124,506
|
|
|
|
(9,254
|
)
|
From financing activities
|
|
|
|
(206
|
)
|
|
|
(1,820
|
)
|
Net cash provided by discontinued operations
|
|
|
|
130,623
|
|
|
|
32,779
|
|
Effect of exchange rate changes on cash
|
|
|
|
(377
|
)
|
|
|
(1,619
|
)
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents
|
|
|
|
48,619
|
|
|
|
(277,576
|
)
|
Cash and cash equivalents at beginning of period
|
|
|
|
141,010
|
|
|
|
418,586
|
|
Cash and cash equivalents at end of period
|
|
|
|
189,629
|
|
|
|
141,010
|
|
|
|
|
|
|
|
|
|
Supplemental cash flow information:
|
|
|
|
|
|
|
|
Cash paid (received) during the period for:
|
|
|
|
|
|
|
|
Interest
|
|
|
|
8,145
|
|
|
|
8,673
|
|
Income taxes
|
|
|
|
6,100
|
|
|
|
(3,845
|
)
|
Payments on capital leases and installment payment arrangements
|
|
|
|
269
|
|
|
|
3,823
|
|
Other debt payments, excluding line of credit
|
|
|
|
32,168
|
|
|
|
24,598
|
|
Prepayment of debt
|
|
|
|
55,000
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
CALCULATION OF FREE CASH FLOW AVAILABLE TO EQUITY
|
AND RECONCILIATION TO OPERATING CASH FLOW
|
(Unaudited)
|
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
06/30/14
|
|
09/30/14
|
|
12/31/14
|
|
03/31/15
|
|
YTD FY2015
|
|
|
06/30/15
|
|
09/30/15
|
|
12/31/15
|
|
03/31/16
|
|
YTD FY2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities - continuing operations
|
|
|
|
(15,456
|
)
|
|
14,325
|
|
|
32,890
|
|
|
29,372
|
|
|
61,131
|
|
|
|
11,997
|
|
|
21,357
|
|
|
37,018
|
|
|
43,270
|
|
|
113,642
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capitalized software
|
|
|
|
(4,969
|
)
|
|
(5,608
|
)
|
|
(4,408
|
)
|
|
(3,602
|
)
|
|
(18,587
|
)
|
|
|
(2,797
|
)
|
|
(3,936
|
)
|
|
(3,627
|
)
|
|
(4,520
|
)
|
|
(14,880
|
)
|
Capital expenditures
|
|
|
|
(16,778
|
)
|
|
(15,362
|
)
|
|
(10,212
|
)
|
|
(14,600
|
)
|
|
(56,952
|
)
|
|
|
(12,876
|
)
|
|
(10,244
|
)
|
|
(10,702
|
)
|
|
(13,601
|
)
|
|
(47,423
|
)
|
Data acquisition costs
|
|
|
|
(635
|
)
|
|
(468
|
)
|
|
(394
|
)
|
|
(374
|
)
|
|
(1,871
|
)
|
|
|
(430
|
)
|
|
(281
|
)
|
|
(424
|
)
|
|
(418
|
)
|
|
(1,553
|
)
|
Payments on capital leases and installment payment arrangements
|
|
|
|
(650
|
)
|
|
(567
|
)
|
|
(471
|
)
|
|
(315
|
)
|
|
(2,003
|
)
|
|
|
(63
|
)
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(63
|
)
|
Other required debt payments
|
|
|
|
(4,267
|
)
|
|
(4,272
|
)
|
|
(8,027
|
)
|
|
(8,032
|
)
|
|
(24,598
|
)
|
|
|
(8,036
|
)
|
|
(8,039
|
)
|
|
(8,045
|
)
|
|
(8,048
|
)
|
|
(32,168
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
|
(42,755
|
)
|
|
(11,952
|
)
|
|
9,378
|
|
|
2,449
|
|
|
(42,880
|
)
|
|
|
(12,205
|
)
|
|
(1,143
|
)
|
|
14,220
|
|
|
16,683
|
|
|
17,555
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
CONSOLIDATED STATEMENTS OF OPERATIONS-GAAP
|
(Unaudited)
|
(Dollars in thousands, except earnings (loss) per share)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q4 FY16 to Q4 FY15
|
|
|
|
|
06/30/14
|
|
09/30/14
|
|
12/31/14
|
|
03/31/15
|
|
YTD FY2015
|
|
|
06/30/15
|
|
09/30/15
|
|
12/31/15
|
|
03/31/16
|
|
YTD FY2016
|
|
|
%
|
|
$
|
Revenues
|
|
|
|
186,683
|
|
|
204,248
|
|
|
208,246
|
|
|
205,734
|
|
|
804,911
|
|
|
|
196,895
|
|
|
207,345
|
|
|
221,193
|
|
|
224,655
|
|
|
850,088
|
|
|
|
9.2
|
%
|
|
18,921
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue
|
|
|
|
115,564
|
|
|
124,958
|
|
|
125,807
|
|
|
127,708
|
|
|
494,037
|
|
|
|
117,709
|
|
|
121,312
|
|
|
125,735
|
|
|
123,626
|
|
|
488,382
|
|
|
|
-3.2
|
%
|
|
(4,082
|
)
|
Gross profit
|
|
|
|
71,119
|
|
|
79,290
|
|
|
82,439
|
|
|
78,026
|
|
|
310,874
|
|
|
|
79,186
|
|
|
86,033
|
|
|
95,458
|
|
|
101,029
|
|
|
361,706
|
|
|
|
29.5
|
%
|
|
23,003
|
|
% Gross margin
|
|
|
|
38.1
|
%
|
|
38.8
|
%
|
|
39.6
|
%
|
|
37.9
|
%
|
|
38.6
|
%
|
|
|
40.2
|
%
|
|
41.5
|
%
|
|
43.2
|
%
|
|
45.0
|
%
|
|
42.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
|
|
|
16,350
|
|
|
19,798
|
|
|
18,973
|
|
|
19,080
|
|
|
74,201
|
|
|
|
20,011
|
|
|
19,078
|
|
|
18,400
|
|
|
16,758
|
|
|
74,247
|
|
|
|
-12.2
|
%
|
|
(2,322
|
)
|
Sales and marketing
|
|
|
|
26,265
|
|
|
28,591
|
|
|
30,554
|
|
|
31,084
|
|
|
116,494
|
|
|
|
29,494
|
|
|
34,259
|
|
|
36,581
|
|
|
45,842
|
|
|
146,176
|
|
|
|
47.5
|
%
|
|
14,758
|
|
General and administrative
|
|
|
|
34,462
|
|
|
36,511
|
|
|
31,821
|
|
|
27,469
|
|
|
130,263
|
|
|
|
31,743
|
|
|
31,519
|
|
|
36,793
|
|
|
35,330
|
|
|
135,385
|
|
|
|
28.6
|
%
|
|
7,861
|
|
Impairment of goodwill and other
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
-
|
|
|
729
|
|
|
-
|
|
|
6,100
|
|
|
6,829
|
|
|
|
-
|
|
|
6,100
|
|
Gains, losses and other items, net
|
|
|
|
7,128
|
|
|
833
|
|
|
3,381
|
|
|
11,258
|
|
|
22,600
|
|
|
|
807
|
|
|
2,504
|
|
|
4,058
|
|
|
4,763
|
|
|
12,132
|
|
|
|
-57.7
|
%
|
|
(6,495
|
)
|
Total operating expenses
|
|
|
|
84,205
|
|
|
85,733
|
|
|
84,729
|
|
|
88,891
|
|
|
343,558
|
|
|
|
82,055
|
|
|
88,089
|
|
|
95,832
|
|
|
108,793
|
|
|
374,769
|
|
|
|
22.4
|
%
|
|
19,902
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
|
|
(13,086
|
)
|
|
(6,443
|
)
|
|
(2,290
|
)
|
|
(10,865
|
)
|
|
(32,684
|
)
|
|
|
(2,869
|
)
|
|
(2,056
|
)
|
|
(374
|
)
|
|
(7,764
|
)
|
|
(13,063
|
)
|
|
|
28.5
|
%
|
|
3,101
|
|
% Margin
|
|
|
|
-7.0
|
%
|
|
-3.2
|
%
|
|
-1.1
|
%
|
|
-5.3
|
%
|
|
-4.1
|
%
|
|
|
-1.5
|
%
|
|
-1.0
|
%
|
|
-0.2
|
%
|
|
-3.5
|
%
|
|
-1.5
|
%
|
|
|
|
|
|
Other income (expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
|
(1,948
|
)
|
|
(1,821
|
)
|
|
(2,005
|
)
|
|
(1,898
|
)
|
|
(7,672
|
)
|
|
|
(1,885
|
)
|
|
(1,956
|
)
|
|
(1,948
|
)
|
|
(1,880
|
)
|
|
(7,669
|
)
|
|
|
0.9
|
%
|
|
18
|
|
Other, net
|
|
|
|
(106
|
)
|
|
(163
|
)
|
|
35
|
|
|
(757
|
)
|
|
(991
|
)
|
|
|
304
|
|
|
59
|
|
|
303
|
|
|
(214
|
)
|
|
452
|
|
|
|
71.7
|
%
|
|
543
|
|
Total other expense
|
|
|
|
(2,054
|
)
|
|
(1,984
|
)
|
|
(1,970
|
)
|
|
(2,655
|
)
|
|
(8,663
|
)
|
|
|
(1,581
|
)
|
|
(1,897
|
)
|
|
(1,645
|
)
|
|
(2,094
|
)
|
|
(7,217
|
)
|
|
|
21.1
|
%
|
|
561
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from continuing operations before income taxes
|
|
|
|
(15,140
|
)
|
|
(8,427
|
)
|
|
(4,260
|
)
|
|
(13,520
|
)
|
|
(41,347
|
)
|
|
|
(4,450
|
)
|
|
(3,953
|
)
|
|
(2,019
|
)
|
|
(9,858
|
)
|
|
(20,280
|
)
|
|
|
27.1
|
%
|
|
3,662
|
|
Income taxes
|
|
|
|
(4,399
|
)
|
|
(1,326
|
)
|
|
(4,597
|
)
|
|
(4,483
|
)
|
|
(14,805
|
)
|
|
|
732
|
|
|
(2,608
|
)
|
|
(1,580
|
)
|
|
(8,176
|
)
|
|
(11,632
|
)
|
|
|
-82.4
|
%
|
|
(3,693
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings (loss) from continuing operations
|
|
|
|
(10,741
|
)
|
|
(7,101
|
)
|
|
337
|
|
|
(9,037
|
)
|
|
(26,542
|
)
|
|
|
(5,182
|
)
|
|
(1,345
|
)
|
|
(439
|
)
|
|
(1,682
|
)
|
|
(8,648
|
)
|
|
|
81.4
|
%
|
|
7,355
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) from discontinued operations, net of tax
|
|
|
|
3,137
|
|
|
5,557
|
|
|
3,819
|
|
|
2,998
|
|
|
15,511
|
|
|
|
4,143
|
|
|
12,068
|
|
|
(971
|
)
|
|
111
|
|
|
15,351
|
|
|
|
-96.3
|
%
|
|
(2,887
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
|
|
(7,604
|
)
|
|
(1,544
|
)
|
|
4,156
|
|
|
(6,039
|
)
|
|
(11,031
|
)
|
|
|
(1,039
|
)
|
|
10,723
|
|
|
(1,410
|
)
|
|
(1,571
|
)
|
|
6,703
|
|
|
|
74.0
|
%
|
|
4,468
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) per share
|
|
|
|
(0.10
|
)
|
|
(0.02
|
)
|
|
0.05
|
|
|
(0.08
|
)
|
|
(0.14
|
)
|
|
|
(0.01
|
)
|
|
0.14
|
|
|
(0.02
|
)
|
|
(0.02
|
)
|
|
0.09
|
|
|
|
73.8
|
%
|
|
0.06
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings (loss) per share continuing operations
|
|
|
|
(0.14
|
)
|
|
(0.09
|
)
|
|
0.00
|
|
|
(0.12
|
)
|
|
(0.34
|
)
|
|
|
(0.07
|
)
|
|
(0.02
|
)
|
|
(0.01
|
)
|
|
(0.02
|
)
|
|
(0.11
|
)
|
|
|
81.2
|
%
|
|
0.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Some earnings (loss) per share amounts may not add due to rounding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
CONSOLIDATED STATEMENTS OF OPERATIONS-NON GAAP
|
(Unaudited)
|
(Dollars in thousands, except earnings per share)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q4 FY16 to Q4 FY15
|
|
|
|
|
06/30/14
|
|
09/30/14
|
|
12/31/14
|
|
03/31/15
|
|
YTD FY2015
|
|
|
06/30/15
|
|
09/30/15
|
|
12/31/15
|
|
03/31/16
|
|
YTD FY2016
|
|
|
%
|
|
$
|
Revenues
|
|
|
|
186,683
|
|
|
204,248
|
|
|
208,246
|
|
|
205,734
|
|
|
804,911
|
|
|
|
196,895
|
|
|
207,345
|
|
|
221,193
|
|
|
224,655
|
|
|
850,088
|
|
|
|
9.2
|
%
|
|
18,921
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue
|
|
|
|
115,197
|
|
|
120,771
|
|
|
121,601
|
|
|
119,239
|
|
|
476,808
|
|
|
|
112,084
|
|
|
117,131
|
|
|
121,237
|
|
|
118,464
|
|
|
468,916
|
|
|
|
-0.7
|
%
|
|
(775
|
)
|
Gross profit
|
|
|
|
71,486
|
|
|
83,477
|
|
|
86,645
|
|
|
86,495
|
|
|
328,103
|
|
|
|
84,811
|
|
|
90,214
|
|
|
99,956
|
|
|
106,191
|
|
|
381,172
|
|
|
|
22.8
|
%
|
|
19,696
|
|
% Gross margin
|
|
|
|
38.3
|
%
|
|
40.9
|
%
|
|
41.6
|
%
|
|
42.0
|
%
|
|
40.8
|
%
|
|
|
43.1
|
%
|
|
43.5
|
%
|
|
45.2
|
%
|
|
47.3
|
%
|
|
44.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
|
|
|
15,911
|
|
|
16,529
|
|
|
15,559
|
|
|
15,956
|
|
|
63,955
|
|
|
|
16,384
|
|
|
15,400
|
|
|
15,647
|
|
|
14,716
|
|
|
62,147
|
|
|
|
-7.8
|
%
|
|
(1,240
|
)
|
Sales and marketing
|
|
|
|
25,619
|
|
|
26,789
|
|
|
28,498
|
|
|
28,915
|
|
|
109,821
|
|
|
|
28,170
|
|
|
32,945
|
|
|
34,664
|
|
|
43,792
|
|
|
139,571
|
|
|
|
51.4
|
%
|
|
14,877
|
|
General and administrative
|
|
|
|
21,388
|
|
|
25,926
|
|
|
21,847
|
|
|
19,895
|
|
|
89,056
|
|
|
|
25,586
|
|
|
23,402
|
|
|
27,455
|
|
|
27,508
|
|
|
103,951
|
|
|
|
38.3
|
%
|
|
7,613
|
|
Gains, losses and other items, net
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
-
|
|
|
-
|
|
Total operating expenses
|
|
|
|
62,918
|
|
|
69,244
|
|
|
65,904
|
|
|
64,766
|
|
|
262,832
|
|
|
|
70,140
|
|
|
71,747
|
|
|
77,766
|
|
|
86,016
|
|
|
305,669
|
|
|
|
32.8
|
%
|
|
21,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
|
|
8,568
|
|
|
14,233
|
|
|
20,741
|
|
|
21,729
|
|
|
65,271
|
|
|
|
14,671
|
|
|
18,467
|
|
|
22,190
|
|
|
20,176
|
|
|
75,503
|
|
|
|
-7.1
|
%
|
|
(1,553
|
)
|
% Margin
|
|
|
|
4.6
|
%
|
|
7.0
|
%
|
|
10.0
|
%
|
|
10.6
|
%
|
|
8.1
|
%
|
|
|
7.5
|
%
|
|
8.9
|
%
|
|
10.0
|
%
|
|
9.0
|
%
|
|
8.9
|
%
|
|
|
|
|
|
Other income (expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
|
(1,948
|
)
|
|
(1,821
|
)
|
|
(2,005
|
)
|
|
(1,898
|
)
|
|
(7,672
|
)
|
|
|
(1,885
|
)
|
|
(1,956
|
)
|
|
(1,948
|
)
|
|
(1,880
|
)
|
|
(7,669
|
)
|
|
|
0.9
|
%
|
|
18
|
|
Other, net
|
|
|
|
(106
|
)
|
|
(163
|
)
|
|
35
|
|
|
(757
|
)
|
|
(991
|
)
|
|
|
304
|
|
|
59
|
|
|
303
|
|
|
(214
|
)
|
|
452
|
|
|
|
71.7
|
%
|
|
543
|
|
Total other expense
|
|
|
|
(2,054
|
)
|
|
(1,984
|
)
|
|
(1,970
|
)
|
|
(2,655
|
)
|
|
(8,663
|
)
|
|
|
(1,581
|
)
|
|
(1,897
|
)
|
|
(1,645
|
)
|
|
(2,094
|
)
|
|
(7,217
|
)
|
|
|
21.1
|
%
|
|
561
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings from continuing operations before income taxes
|
|
|
|
6,514
|
|
|
12,249
|
|
|
18,771
|
|
|
19,074
|
|
|
56,608
|
|
|
|
13,090
|
|
|
16,570
|
|
|
20,545
|
|
|
18,082
|
|
|
68,286
|
|
|
|
-5.2
|
%
|
|
(992
|
)
|
Income taxes
|
|
|
|
2,517
|
|
|
4,757
|
|
|
5,755
|
|
|
5,324
|
|
|
18,353
|
|
|
|
5,632
|
|
|
5,163
|
|
|
6,399
|
|
|
4,262
|
|
|
21,456
|
|
|
|
-19.9
|
%
|
|
(1,062
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings from continuing operations
|
|
|
|
3,997
|
|
|
7,492
|
|
|
13,016
|
|
|
13,750
|
|
|
38,255
|
|
|
|
7,458
|
|
|
11,407
|
|
|
14,146
|
|
|
13,820
|
|
|
46,830
|
|
|
|
0.5
|
%
|
|
70
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings from discontinued operations, net of tax
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
-
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings
|
|
|
|
3,997
|
|
|
7,492
|
|
|
13,016
|
|
|
13,750
|
|
|
38,255
|
|
|
|
7,458
|
|
|
11,407
|
|
|
14,146
|
|
|
13,820
|
|
|
46,830
|
|
|
|
0.5
|
%
|
|
70
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share
|
|
|
|
0.05
|
|
|
0.10
|
|
|
0.17
|
|
|
0.17
|
|
|
0.49
|
|
|
|
0.09
|
|
|
0.14
|
|
|
0.18
|
|
|
0.18
|
|
|
0.59
|
|
|
|
5.9
|
%
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
RECONCILIATION OF GAAP TO NON-GAAP EPS
|
(Unaudited)
|
(Dollars in thousands, except earnings (loss) per share)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
06/30/14
|
|
09/30/14
|
|
12/31/14
|
|
03/31/15
|
|
FY2015
|
|
|
06/30/15
|
|
09/30/15
|
|
12/31/15
|
|
03/31/16
|
|
YTD FY2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from continuing operations before income taxes
|
|
|
|
(15,140
|
)
|
|
(8,427
|
)
|
|
(4,260
|
)
|
|
(13,520
|
)
|
|
(41,347
|
)
|
|
|
(4,450
|
)
|
|
(3,953
|
)
|
|
(2,019
|
)
|
|
(9,858
|
)
|
|
(20,280
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income taxes
|
|
|
|
(4,399
|
)
|
|
(1,326
|
)
|
|
(4,597
|
)
|
|
(4,483
|
)
|
|
(14,805
|
)
|
|
|
732
|
|
|
(2,608
|
)
|
|
(1,580
|
)
|
|
(8,176
|
)
|
|
(11,632
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings (loss) from continuing operations
|
|
|
|
(10,741
|
)
|
|
(7,101
|
)
|
|
337
|
|
|
(9,037
|
)
|
|
(26,542
|
)
|
|
|
(5,182
|
)
|
|
(1,345
|
)
|
|
(439
|
)
|
|
(1,682
|
)
|
|
(8,648
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) from discontinued operations, net of tax
|
|
|
|
3,137
|
|
|
5,557
|
|
|
3,819
|
|
|
2,998
|
|
|
15,511
|
|
|
|
4,143
|
|
|
12,068
|
|
|
(971
|
)
|
|
111
|
|
|
15,351
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
|
|
(7,604
|
)
|
|
(1,544
|
)
|
|
4,156
|
|
|
(6,039
|
)
|
|
(11,031
|
)
|
|
|
(1,039
|
)
|
|
10,723
|
|
|
(1,410
|
)
|
|
(1,571
|
)
|
|
6,703
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
(0.10
|
)
|
|
(0.02
|
)
|
|
0.05
|
|
|
(0.08
|
)
|
|
(0.14
|
)
|
|
|
(0.01
|
)
|
|
0.14
|
|
|
(0.02
|
)
|
|
(0.02
|
)
|
|
0.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
|
|
(0.10
|
)
|
|
(0.02
|
)
|
|
0.05
|
|
|
(0.08
|
)
|
|
(0.14
|
)
|
|
|
(0.01
|
)
|
|
0.14
|
|
|
(0.02
|
)
|
|
(0.02
|
)
|
|
0.09
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unusual items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchased intangible asset amortization (cost of revenue)
|
|
|
|
63
|
|
|
3,827
|
|
|
3,783
|
|
|
3,781
|
|
|
11,454
|
|
|
|
3,754
|
|
|
3,754
|
|
|
3,754
|
|
|
4,204
|
|
|
15,466
|
|
Non-cash stock compensation (cost of revenue and operating expenses)
|
|
|
|
3,925
|
|
|
7,725
|
|
|
8,450
|
|
|
8,216
|
|
|
28,316
|
|
|
|
8,123
|
|
|
7,360
|
|
|
8,046
|
|
|
7,934
|
|
|
31,463
|
|
Impairment of goodwill and other
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
-
|
|
|
729
|
|
|
-
|
|
|
6,100
|
|
|
6,829
|
|
Restructuring charges and other adjustments (gains, losses, and
other)
|
|
|
|
7,128
|
|
|
833
|
|
|
3,381
|
|
|
11,258
|
|
|
22,600
|
|
|
|
807
|
|
|
2,504
|
|
|
4,058
|
|
|
4,763
|
|
|
12,132
|
|
Separation and transformation costs (general and administrative)
|
|
|
|
10,538
|
|
|
8,291
|
|
|
7,417
|
|
|
5,023
|
|
|
31,269
|
|
|
|
3,414
|
|
|
6,098
|
|
|
6,628
|
|
|
4,686
|
|
|
20,826
|
|
Accelerated amortization (cost of revenue)
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
4,316
|
|
|
4,316
|
|
|
|
1,442
|
|
|
78
|
|
|
78
|
|
|
252
|
|
|
1,850
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total unusual items, continuing operations
|
|
|
|
21,654
|
|
|
20,676
|
|
|
23,031
|
|
|
32,594
|
|
|
97,955
|
|
|
|
17,540
|
|
|
20,523
|
|
|
22,564
|
|
|
27,939
|
|
|
88,566
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings from continuing operations before income taxes and
excluding unusual items
|
|
|
|
6,514
|
|
|
12,249
|
|
|
18,771
|
|
|
19,074
|
|
|
56,608
|
|
|
|
13,090
|
|
|
16,570
|
|
|
20,545
|
|
|
18,081
|
|
|
68,286
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income taxes
|
|
|
|
2,517
|
|
|
4,757
|
|
|
5,755
|
|
|
5,324
|
|
|
18,353
|
|
|
|
5,632
|
|
|
5,163
|
|
|
6,399
|
|
|
4,262
|
|
|
21,456
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net earnings
|
|
|
|
3,997
|
|
|
7,492
|
|
|
13,016
|
|
|
13,750
|
|
|
38,255
|
|
|
|
7,458
|
|
|
11,407
|
|
|
14,146
|
|
|
13,819
|
|
|
46,830
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP earnings per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
0.05
|
|
|
0.10
|
|
|
0.17
|
|
|
0.18
|
|
|
0.50
|
|
|
|
0.10
|
|
|
0.15
|
|
|
0.18
|
|
|
0.18
|
|
|
0.60
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
|
|
0.05
|
|
|
0.10
|
|
|
0.17
|
|
|
0.17
|
|
|
0.49
|
|
|
|
0.09
|
|
|
0.14
|
|
|
0.18
|
|
|
0.18
|
|
|
0.59
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average shares
|
|
|
|
76,833
|
|
|
77,123
|
|
|
77,039
|
|
|
77,427
|
|
|
77,106
|
|
|
|
77,918
|
|
|
77,960
|
|
|
77,831
|
|
|
76,753
|
|
|
77,616
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted weighted average shares
|
|
|
|
78,341
|
|
|
78,307
|
|
|
78,302
|
|
|
79,027
|
|
|
78,494
|
|
|
|
79,352
|
|
|
79,310
|
|
|
79,346
|
|
|
78,386
|
|
|
79,099
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Some earnings (loss) per share amounts may not add due to rounding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
RESULTS BY SEGMENT
|
(Unaudited)
|
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q4 FY16 to Q4 FY15
|
|
|
|
|
06/30/14
|
|
09/30/14
|
|
12/31/14
|
|
03/31/15
|
|
YTD FY2015
|
|
|
06/30/15
|
|
09/30/15
|
|
12/31/15
|
|
03/31/16
|
|
YTD FY2016
|
|
|
%
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing services
|
|
|
|
109,288
|
|
|
112,750
|
|
|
114,403
|
|
|
109,662
|
|
|
446,103
|
|
|
|
107,726
|
|
|
112,979
|
|
|
115,725
|
|
|
113,342
|
|
|
449,772
|
|
|
|
3.4
|
%
|
|
3,680
|
|
Audience Solutions
|
|
|
|
73,061
|
|
|
78,026
|
|
|
75,933
|
|
|
76,816
|
|
|
303,836
|
|
|
|
68,550
|
|
|
72,122
|
|
|
77,046
|
|
|
80,128
|
|
|
297,846
|
|
|
|
4.3
|
%
|
|
3,312
|
|
Connectivity
|
|
|
|
4,334
|
|
|
13,472
|
|
|
17,910
|
|
|
19,256
|
|
|
54,972
|
|
|
|
20,619
|
|
|
22,244
|
|
|
28,422
|
|
|
31,185
|
|
|
102,470
|
|
|
|
61.9
|
%
|
|
11,929
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating segment revenues
|
|
|
|
186,683
|
|
|
204,248
|
|
|
208,246
|
|
|
205,734
|
|
|
804,911
|
|
|
|
196,895
|
|
|
207,345
|
|
|
221,193
|
|
|
224,655
|
|
|
850,088
|
|
|
|
9.2
|
%
|
|
18,921
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing services
|
|
|
|
39,408
|
|
|
39,295
|
|
|
41,572
|
|
|
36,120
|
|
|
156,395
|
|
|
|
36,034
|
|
|
37,545
|
|
|
38,561
|
|
|
40,117
|
|
|
152,257
|
|
|
|
11.1
|
%
|
|
3,997
|
|
Audience Solutions
|
|
|
|
35,605
|
|
|
41,425
|
|
|
39,215
|
|
|
42,141
|
|
|
158,386
|
|
|
|
36,824
|
|
|
39,170
|
|
|
45,265
|
|
|
46,457
|
|
|
167,716
|
|
|
|
10.2
|
%
|
|
4,316
|
|
Connectivity
|
|
|
|
(3,527
|
)
|
|
2,757
|
|
|
5,858
|
|
|
8,234
|
|
|
13,322
|
|
|
|
11,953
|
|
|
13,499
|
|
|
16,130
|
|
|
19,617
|
|
|
61,199
|
|
|
|
138.2
|
%
|
|
11,383
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating segment gross profit
|
|
|
|
71,486
|
|
|
83,477
|
|
|
86,645
|
|
|
86,495
|
|
|
328,103
|
|
|
|
84,811
|
|
|
90,214
|
|
|
99,956
|
|
|
106,191
|
|
|
381,172
|
|
|
|
22.8
|
%
|
|
19,696
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing services
|
|
|
|
36.1
|
%
|
|
34.9
|
%
|
|
36.3
|
%
|
|
32.9
|
%
|
|
35.1
|
%
|
|
|
33.4
|
%
|
|
33.2
|
%
|
|
33.3
|
%
|
|
35.4
|
%
|
|
33.9
|
%
|
|
|
|
|
|
Audience Solutions
|
|
|
|
48.7
|
%
|
|
53.1
|
%
|
|
51.6
|
%
|
|
54.9
|
%
|
|
52.1
|
%
|
|
|
53.7
|
%
|
|
54.3
|
%
|
|
58.8
|
%
|
|
58.0
|
%
|
|
56.3
|
%
|
|
|
|
|
|
Connectivity
|
|
|
|
-81.4
|
%
|
|
20.5
|
%
|
|
32.7
|
%
|
|
42.8
|
%
|
|
24.2
|
%
|
|
|
58.0
|
%
|
|
60.7
|
%
|
|
56.8
|
%
|
|
62.9
|
%
|
|
59.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating segment gross margin
|
|
|
|
38.3
|
%
|
|
40.9
|
%
|
|
41.6
|
%
|
|
42.0
|
%
|
|
40.8
|
%
|
|
|
43.1
|
%
|
|
43.5
|
%
|
|
45.2
|
%
|
|
47.3
|
%
|
|
44.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from continuing operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing services
|
|
|
|
20,828
|
|
|
20,576
|
|
|
21,859
|
|
|
17,984
|
|
|
81,247
|
|
|
|
16,853
|
|
|
17,908
|
|
|
20,309
|
|
|
19,301
|
|
|
74,371
|
|
|
|
7.3
|
%
|
|
1,317
|
|
Audience Solutions
|
|
|
|
24,190
|
|
|
31,375
|
|
|
28,919
|
|
|
30,594
|
|
|
115,078
|
|
|
|
24,087
|
|
|
25,190
|
|
|
30,723
|
|
|
29,598
|
|
|
109,598
|
|
|
|
-3.3
|
%
|
|
(996
|
)
|
Connectivity
|
|
|
|
(14,089
|
)
|
|
(12,152
|
)
|
|
(7,802
|
)
|
|
(6,026
|
)
|
|
(40,069
|
)
|
|
|
(791
|
)
|
|
(1,068
|
)
|
|
(1,015
|
)
|
|
(424
|
)
|
|
(3,298
|
)
|
|
|
93.0
|
%
|
|
5,602
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating segment income from operations
|
|
|
|
30,929
|
|
|
39,799
|
|
|
42,976
|
|
|
42,552
|
|
|
156,256
|
|
|
|
40,149
|
|
|
42,030
|
|
|
50,017
|
|
|
48,475
|
|
|
180,671
|
|
|
|
13.9
|
%
|
|
5,923
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Margin:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketing services
|
|
|
|
19.1
|
%
|
|
18.2
|
%
|
|
19.1
|
%
|
|
16.4
|
%
|
|
18.2
|
%
|
|
|
15.6
|
%
|
|
15.9
|
%
|
|
17.5
|
%
|
|
17.0
|
%
|
|
16.5
|
%
|
|
|
|
|
|
Audience Solutions
|
|
|
|
33.1
|
%
|
|
40.2
|
%
|
|
38.1
|
%
|
|
39.8
|
%
|
|
37.9
|
%
|
|
|
35.1
|
%
|
|
34.9
|
%
|
|
39.9
|
%
|
|
36.9
|
%
|
|
36.8
|
%
|
|
|
|
|
|
Connectivity
|
|
|
|
-325.1
|
%
|
|
-90.2
|
%
|
|
-43.6
|
%
|
|
-31.3
|
%
|
|
-72.9
|
%
|
|
|
-3.8
|
%
|
|
-4.8
|
%
|
|
-3.6
|
%
|
|
-1.4
|
%
|
|
-3.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating segment operating margin
|
|
|
|
16.6
|
%
|
|
19.5
|
%
|
|
20.6
|
%
|
|
20.7
|
%
|
|
19.4
|
%
|
|
|
20.4
|
%
|
|
20.3
|
%
|
|
22.6
|
%
|
|
21.6
|
%
|
|
21.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Some totals may not add due to rounding.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACXIOM CORPORATION AND SUBSIDIARIES
|
RECONCILIATION OF ADJUSTED EBITDA
|
(Unaudited)
|
(Dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended
|
|
|
For the Twelve Months Ended
|
|
|
|
|
March 31,
|
|
|
March 31,
|
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss from continuing operations
|
|
|
|
(1,682
|
)
|
|
|
(9,037
|
)
|
|
|
(8,648
|
)
|
|
|
(26,542
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income taxes
|
|
|
|
(8,176
|
)
|
|
|
(4,483
|
)
|
|
|
(11,632
|
)
|
|
|
(14,805
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other expense
|
|
|
|
(2,094
|
)
|
|
|
(2,655
|
)
|
|
|
(7,217
|
)
|
|
|
(8,663
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations
|
|
|
|
(7,764
|
)
|
|
|
(10,865
|
)
|
|
|
(13,063
|
)
|
|
|
(32,684
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
|
22,242
|
|
|
|
25,760
|
|
|
|
85,463
|
|
|
|
80,447
|
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred interest amortization
|
|
|
|
306
|
|
|
|
248
|
|
|
|
1,206
|
|
|
|
1,009
|
|
Adjusted depreciation and amortization
|
|
|
|
21,936
|
|
|
|
25,512
|
|
|
|
84,257
|
|
|
|
79,438
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA
|
|
|
|
14,172
|
|
|
|
14,647
|
|
|
|
71,194
|
|
|
|
46,754
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-cash stock compensation (cost of revenue and operating expenses)
|
|
|
|
7,934
|
|
|
|
8,216
|
|
|
|
31,463
|
|
|
|
28,316
|
|
Impairment of goodwill and other
|
|
|
|
6,100
|
|
|
|
-
|
|
|
|
6,829
|
|
|
|
-
|
|
Restructuring charges and other adjustments (gains, losses, and
other)
|
|
|
|
4,763
|
|
|
|
11,258
|
|
|
|
12,132
|
|
|
|
22,600
|
|
Separation and transformation costs (general and administrative)
|
|
|
|
4,686
|
|
|
|
5,023
|
|
|
|
20,826
|
|
|
|
31,269
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other adjustments
|
|
|
|
23,483
|
|
|
|
24,497
|
|
|
|
71,250
|
|
|
|
82,185
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA
|
|
|
|
37,655
|
|
|
|
39,144
|
|
|
|
142,444
|
|
|
|
128,939
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20160517006631/en/
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