SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
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PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
July 20, 1999
DATE OF REPORT (Date of earliest event reported)
ACXIOM CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 0-13163 71-0581897
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification Number)
incorporation)
1 Information Way
Little Rock, Arkansas 72202
(Address of principal executive offices)
(Zip Code)
(501) 252-1000
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events.
On Tuesday, July 20, 1999, the Company announced its financial results
for its fiscal quarter ended June 20, 1999.
A copy of the press release is attached hereto as Exhibit 99 and is
incorporated herein by reference.
Item 7. Exhibits
99 Press Release dated July 20, 1999, issued by Registrant.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ACXIOM CORPORATION
By: /s/ Catherine L. Hughes
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Catherine L. Hughes
Corporate Counsel
Date: July 22, 1999
<PAGE>
Exhibit Index
Number in
Exhibit Table Exhibit
99 Press Release dated July 20, 1999
For more information, contact
Robert S. Bloom Rodger S. Kline
Company Finance Leader Company Operations Leader
Acxiom Corporation Acxiom Corporation
(501) 336-1321 (501) 336-1322
ACXIOM(R) CORPORATION REPORTS
RECORD RESULTS FOR FIRST QUARTER
LITTLE ROCK, Ark., July 20, 1999 -- Acxiom(R) Corporation (Nasdaq: ACXM) today
reported record revenue and earnings for the first quarter ended June 30, 1999.
Consolidated revenues for the first quarter ended June 30, 1999 were
$211,506,000, up 29 percent from revenues of $164,512,000 for the same quarter a
year ago. Net earnings for the quarter were $15,749,000 ($ .18 diluted earnings
per share), an increase of 34 percent compared to net earnings in the previous
year's first quarter of $11,737,000 ($ .14 diluted earnings per share).
Acxiom reported strong revenue growth for the quarter by each of its business
segments. The Services segment reported revenues of $130.1 million for the
quarter, up 38 percent over the prior year. The Information Technology
Management segment reported revenues of $45.3 million, up 30 percent over the
prior year. The Data Products segment reported revenues of $47.9 million, up 11
percent over the prior year.
"We delivered another great quarter," said Charles D. Morgan, Chairman and
Company Leader. "We enjoyed our 32nd consecutive quarter of achieving record
revenue and earnings and each of our business segments contributed solid
performance. The Acxiom Data Network(SM) also made great strides in gaining
acceptance as the industry standard for integrating consumer and business data."
Morgan noted that in recent weeks Acxiom had announced strategic alliances with
three leaders in their respective industries, in addition to growing the number
of partners in various stages of adopting the Acxiom Data Network, a leading
e-business solution for customers seeking to better manage their customer
relationships. "The e-commerce world provides great opportunities to Acxiom, and
these alliances are an important element of our strategy," Morgan said. The
three major alliances Morgan noted were:
* Dun & Bradstreet (NYSE: DNB), the global leader in providing business
information, and Acxiom announced a strategic alliance that
significantly deepens and broadens both companies' marketing
information solutions and expands their respective distribution
channels.
* Abacus Direct Corp. (Nasdaq: ABDR) and Acxiom announced a multi-year
strategic product development and distribution agreement to capitalize
on the information and technology strengths of both companies to
create new, more powerful data products.
<PAGE>
* E.piphany, a leader in Web-based analytic applications focused on the
customers, and Acxiom announced they would jointly deliver a new
generation of global Customer Relationship Management and Enterprise
Relationship Management solutions.
During the quarter, Acxiom announced it had agreed to create a joint-venture
company with Publishing and Broadcasting Ltd. of Sydney to serve data management
needs of companies in Australia and New Zealand. Acxiom also announced the
acquisition of Horizon Systems of Stamford, Conn., a leading provider of
information solutions and services to pharmaceutical sales organizations. And,
Acxiom completed the acquisition of Computer Graphics of Arizona, Inc., a
privately held, Phoenix-based enterprise with three decades of experience
serving the financial services and credit collections industry.
Among major new customers signed by Acxiom during the quarter were the City of
Chicago which signed a five-year, $40 million contract to provide data center
management services and Rodale Inc., a global leader in the publishing of health
and active living information, which signed a multi-million dollar, five-year
contract for database and data warehousing services.
Acxiom has announced that its Annual Shareholders Meeting will be held at
10:30AM, August 4, 1999, at the DoubleTree Hotel in Little Rock, Arkansas.
About Acxiom Corp.
Acxiom Corporation provides a wide spectrum of data products, data warehousing
and data integration services, mailing list services, modeling and analysis, and
information technology outsourcing services to major U.S. and international
firms. Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas, with
operations throughout the United States and in the United Kingdom, Australia,
France and Spain. More information is available on www.Acxiom.com.
The discussion in this press release contains forward-looking statements that
involve risks and uncertainties, including risks detailed from time to time in
the company's SEC reports. Actual results may differ materially from the
expectations expressed in forward-looking statements.
Acxiom is a registered trademark of Acxiom RTC, Inc.
###
<PAGE>
ACXIOM CORPORATION AND SUBSIDIARIES
REVENUES BY SEGMENT
(Unaudited)
For the Three Months Ended
June 30,
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1999 1998
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Services 130,092,000 94,251,000
Data 47,945,000 43,378,000
I. T. Management 45,338,000 34,795,000
Intercompany eliminations (11,869,000) (7,912,000)
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Total Revenue 211,506,000 164,512,000
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<PAGE>
ACXIOM CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
For the Three Months Ended
June 30,
----------------------------------------
1999 1998
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Revenue 211,506,000 164,512,000
Operating costs and expenses:
Salaries and benefits 83,709,000 63,717,000
Computer, communications and
other equipment 34,174,000 24,956,000
Data costs 25,116,000 26,407,000
Other operating costs and expenses 38,261,000 29,111,000
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Total operating costs and expenses 181,260,000 144,191,000
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Income from operations 30,246,000 20,321,000
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Other income (expense):
Interest expense (5,819,000) (4,076,000)
Other, net 769,000 2,514,000
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(5,050,000) (1,562,000)
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Earnings before income taxes 25,196,000 18,759,000
Income taxes 9,447,000 7,022,000
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Net earnings 15,749,000 11,737,000
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Earnings per share:
Basic 0.19 0.16
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Diluted 0.18 0.14
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Selected Financial Data:
EBITDA 49,281,000 37,789,000
Capital Expenditures 35,645,000 17,441,000
Depreciation and Amortization 18,266,000 14,954,000
Stockholders' Equity 414,711,000 324,242,000
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