New book by Larry Connors Click here Improve your trading - See how
John Meyer, Acxiom's chief executive officer and president, said, "The September quarter was another challenging period for us versus the prior-year quarter, but we are beginning to see signs of progress in the business. Our revenue and operating income results improved in the September quarter over the June quarter. In addition, several of our clients have indicated to us that they expect to increase their marketing spending during the second half of our fiscal year. This anticipated increase in client spending coupled with our continued emphasis on expense management gives us confidence that our second half operating income performance will improve over the first half of the fiscal year."
In a release dated October 28, the company stated:
Second Quarter 2010 Highlights:
- Earnings per diluted share of $0.12 in the second quarter of fiscal 2010, compared to earnings per diluted share of $0.18 in the second quarter of fiscal 2009, before the effect of unusual gain items. GAAP diluted earnings per share in the prior-year period were $0.20, which included $0.02 in unusual gain items.
- Income from operations of $21.2 million in the current year second quarter, compared to income from operations of $31.9 million in the second quarter last year, before the effect of unusual items. The prior year GAAP income from operations was $34.3 million, which included unusual gain items of $2.4 million.
- Revenue of $271.1 million in the current quarter, compared to $307.4 million, excluding an Information Products pass-through contract, in the second quarter a year ago. GAAP revenue in the prior period was $328.9 million, which included pass-through revenue from the Information Products contract of approximately $21.5 million. This contract was modified in the fourth quarter of fiscal 2009, and the company no longer recognizes pass-through revenue from this contract.
- Operating cash flow of $60.7 million compared to $86.8 million in the second quarter a year ago.
- Free cash flow available to equity of $29.4 million, compared to $71.6 million in the second quarter a year ago. The prior-year amount included $24.2 million of proceeds received from the sale of company-owned real estate. Free cash flow available to equity is a non-GAAP financial measure.
- Earnings per diluted share of $0.17 for the current year six-month period compared to earnings per diluted share of $0.31 in the comparable six-month period last year, before the effect of unusual gain items. GAAP diluted earnings per share for the six-month period of fiscal 2009 were $0.34 which included $0.03 in unusual gain items.
- Income from operations of $33.7 million for the first six months of fiscal year 2010, compared to $56.9 million, before unusual gain items in the comparable six-month period of fiscal 2009. GAAP income from operations for the prior year of $59.9 million included $2.9 million of unusual gain items.
- Revenue of $527.1 million in the current six-month period, compared to $616.2 million, excluding an Information Products pass-through contract, in the first half of fiscal 2009. GAAP revenue in the prior period was $660.0 million, which included pass-through revenue from the Information Products contract of approximately $43.8 million. This contract was modified in the fourth quarter of fiscal 2009, and the company no longer recognizes pass-through revenue from this contract.
- Operating cash flow of $76.9 million in the current fiscal year six-month period compared to $115.3 million in the prior year six-month period.
- Free cash flow available to equity of $16.3 million for the six months ended September 30. For the six-month period ended September 30, 2008 free cash flow available to equity was $62.0 million. The prior-year amount included $26.8 million of unusual and one-time items, including $24.2 million in proceeds received from the sale of company-owned real estate.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
