Acxiom will use proceeds from the sale to pay down debt and to fund the expansion of its share repurchase program. As part of the revised program, Acxiom’s Board of Directors has increased its share repurchase authorization by $50 million to $300 million and extended the duration of the program through December 31, 2016. Since inception of the program in August 2011, the Company has repurchased 12.9 million shares, or approximately 16% of the outstanding common stock, for $202 million.
Fiscal 2015 Results
Acxiom also announced its preliminary results for its fourth quarter and fiscal year ended March 31, 2015. The Company expects to report:
Total revenue from continuing operations of $257 million compared to $269 million in the fourth quarter of fiscal 2014.
Net loss per diluted share from continuing operations of $0.08 compared to a net loss of $0.33 in the prior year period.
Non-GAAP diluted earnings per share of $0.24 compared to earnings per share of $0.26 in the prior year period. Earnings per share in the current period was positively impacted by a tax adjustment resulting in a $0.04 improvement.
Total revenue from continuing operations of $1,020 million compared to $1,062 million in fiscal 2014.
Net loss per diluted share from continuing operations of $0.12 compared to earnings per share of $0.14 in the prior year.
Non-GAAP diluted earnings per share of $0.78 compared to earnings per share of $0.95 in the prior year. Earnings per share in both periods were positively impacted by a tax adjustment resulting in a $0.04 improvement.
Non-GAAP results exclude unusual items, non-cash compensation and acquired intangible asset amortization.
The Company will issue its fiscal year 2015 fourth quarter and full year earnings release on Thursday, May 21, after the financial markets close. A conference call will be held at 4:00 p.m. CDT the same day to discuss the results.
Acxiom will hold a conference call at 3:30 p.m. CDT today to further discuss this announcement. The number for the conference call is 1 (877) 710-0217. The confirmation code is 47260412. If you wish to participate in the call, please dial in approximately five minutes before the call. As an alternative, this call will be broadcast live over the Internet and can be accessed by all interested parties through www.acxiom.com. A replay of the webcast will be accessible through the same link shortly after the call.
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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 40 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, please visit www.acxiom.com.
About Acxiom IT
Acxiom IT provides infrastructure management solutions that help clients deliver better, faster, more cost-effective results. Addressing all IT needs – from hosting to cloud to advisory – Acxiom ranks #1 in customer satisfaction by The Black Book of Outsourcing and has consistently appeared on the Gartner Magic Quadrant for Data Center Outsourcing. Recognized in the InformationWeek 500 for technology innovations for nine consecutive years, Acxiom powers and secures over one trillion transactions per week consisting of some of the most sensitive data in the world. For 26 years, companies that require high-performance, secure, reliable IT have turned to Acxiom and remained loyal clients – ten years on average. To learn more, please visit www.acxiomIT.com.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $3 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, generally investing $50 million to $150 million per transaction in companies with enterprise values of $100 million to $750 million. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, visit www.charlesbank.com.
About M/C Partners
M/C Partners is a private equity firm focused exclusively on the communications, media, and information technology sectors. The firm has invested over $1.5 billion into nearly 100 companies in those sectors. Companies M/C has backed include Fusepoint, ICG Communications, Involta, Legendary Pictures, Lightower, MetroPCS, and Zayo Group. The firm has strong institutional backing from the nation’s leading pension funds and endowments as well as a long track record of success. M/C Partners has offices in Boston and San Francisco. For more information, visit www.mcpartners.com.
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