Acxiom: a good report
Acxiom, the LR data company under pressure from an outside investor with takeover on his mind, has been in the news by analysts awaiting first quarter earnings for the period ending June 30. Motley Fool is an example. Results are in. Acxiom says things are fine. Better than fine actually. Its news release calls these the best first quarter income numbers ever. Earnings exceeded analysts' predictions.
Year over year, first-quarter earnings per diluted share increased 186 percent to $0.20. Consolidated net earnings for the quarter increased 168 percent to $17.8 million. First-quarter revenue totaled $336.7 million, representing an 8.5 percent increase over the same quarter last year.
“Our first-quarter results were strong and in line with our long-term Financial Road Map. These results reflect the growing strength of our company and the benefits from our ongoing initiatives to transform Acxiom,” Company Leader Charles D. Morgan said. “Our first-quarter operating income increased 143 percent over the same quarter last year, and our overall revenue growth of 8.5 percent was led by a 9.8 percent increase in our services business. We are clearly on the right path operationally and will continue to stay focused on executing our priority initiatives to deliver superior financial performance.”
Comments
The results speak for themselves. It would be a huge mistake to allow Jeffery Ubben to "disrupt" the business with his ill-conceived plans.
Posted by: Apiary Rex | July 27, 2006 01:06 AM
This company always cooks the numbers when it needs to. Then a few months later they will lay off a bunch of their more costly old employees. They'll announce poor results to make up for cooking the numbers. They've been doing this for years.
Posted by: beware | July 27, 2006 06:34 AM
"Cook the number"? That's a pretty bold accusation. New CFO at Acxiom. I'm sure one of the things all CFOs, particularly new ones, particularly in this under-the-microscope time with Sarbanes-Oxley, etc., are fond of doing is "cooking the books." You don't know what you're talking about, obviously. Just hope Times blog readers can spot BS when they see it.
Posted by: Acxiguy | July 27, 2006 06:37 AM
Yeah, I know what I'm talking about, and so do you if you are very high up in Acxiom.
Posted by: beware | July 27, 2006 09:24 AM
It would be rather ballsy to cook the books with what's going on with ValueAct right now. If they caught a sniff of this they would leak it, cause a nosedive in the stock and gobble it up for even less than its original offer.
But, hey, I'm just an outsider with no inside info whatsoever, just common sense.
Posted by: Aporkalypse | July 27, 2006 09:43 AM
There are legal ways of playing with the numbers. Usually when they have a good quarter or two they'll let the ax fall to make up for it. It's very hard to prove though.
Posted by: acxigal | July 27, 2006 10:25 AM
Anyone investing in this company is a fool. Going to Tunica would be less risky and more profitable. I've been following this company for years. It's been going up and down like a yo-yo for years now.
Posted by: Anonymous | July 27, 2006 10:29 AM