-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CLB3gc9djbdpfucmj57LUcVVqo/o1XL182Sc2JHEpSYyhI0e0s2+u48jjzfg9jPU csZz0SUOZRFcJuJuu81syg== 0000733269-03-000004.txt : 20030408 0000733269-03-000004.hdr.sgml : 20030408 20030408080401 ACCESSION NUMBER: 0000733269-03-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030408 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030408 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACXIOM CORP CENTRAL INDEX KEY: 0000733269 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 710581897 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13163 FILM NUMBER: 03642085 BUSINESS ADDRESS: STREET 1: 1 INFORMATION WAY STREET 2: P O BOX 8180 CITY: LITTLE ROCK STATE: AR ZIP: 72203-0180 BUSINESS PHONE: 5013421000 MAIL ADDRESS: STREET 1: 1 INFORMATION WAY STREET 2: PO BOX 8180 CITY: LITTLE ROCK STATE: AR ZIP: 72202-8180 FORMER COMPANY: FORMER CONFORMED NAME: CCX NETWORK INC DATE OF NAME CHANGE: 19880816 8-K 1 f8kapr0803.htm ACXIOM CORPORATION Acxiom Form 8-K : April 8, 2003
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                                  April 8, 2003
                Date of Report (Date of earliest event reported)


                               ACXIOM CORPORATION
               (Exact Name of Registrant as Specified in Charter)


            Delaware                  0-13163                   71-0581897
 (State or Other Jurisdiction    (Commission File             (IRS Employer
      of Incorporation)               Number)               Identification No.)

  1 Information Way, P.O. Box 8180, Little Rock, Arkansas      72203-8180
        (Address of Principal Executive Offices)               (Zip Code)

      Registrant's telephone number, including area code: 501-342-1000



ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c)      Exhibits

                  99.1     Press Release dated April 8, 2003

ITEM 9.  REGULATION FD DISCLOSURE.

         See Item 12.      Results of Operations and Financial Condition.

ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

     On April 8, 2003, Acxiom Corporation (the "Company") issued a press release
announcing that it anticipates  that revenue and earnings for the fourth quarter
of fiscal  2003  ended  March 31,  2002 will be below the  Company's  previously
stated expectations. The press release is furnished herewith as Exhibit 99.1 and
incorporated by reference herein.

     The  Company's  press  release and other  communications  from time to time
include certain non-GAAP financial  measures.  A "non-GAAP financial measure" is
defined as a numerical measure of a company's financial  performance,  financial
position or cash flows that excludes (or includes)  amounts that are included in
(or excluded from) the most directly comparable measure calculated and presented
in accordance  with GAAP in the  Company's  financial  statements.  The attached
press  release  utilizes a measure of earnings per share before giving effect to
certain write-offs that were taken during the period.

     The Company's  management  believes that the  presentation  of earnings per
share (before  write-offs)  provides useful information  regarding the Company's
financial  performance and earnings potential by calculating and quantifying the
effect of certain write-offs on earnings per share calculated in accordance with
GAAP and  gives  investors  insight  into  the  profitability  of the  Company's
operating  business.  Management  also  believes  that the  presentation  of the
non-GAAP  financial  measure is consistent  with its past  practice,  as well as
industry practice in general,  and will enable investors and analysts to compare
current non-GAAP measures with non-GAAP measures presented in prior periods.

     The non-GAAP  financial  measure used by the Company in the attached  press
release  may not be  comparable  to  similarly  titled  measures  used by  other
companies  and should not be  considered  in isolation  or as a  substitute  for
measures of performance prepared in accordance with GAAP.




                                    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.

Dated:   April 8, 2003


                                     ACXIOM CORPORATION


                                     By:      /s/ Jerry C. Jones
                                        ----------------------------------------
                                     Name:    Jerry C. Jones
                                     Title:   Business Development/Legal Leader




                                  EXHIBIT INDEX





    Exhibit Number                       Description

         99.1           Press Release of the Company dated April 8, 2003.

EX-99 3 ex99-1.htm PRESS RELEASE Form 8-K Exhibit 99.1
For more information, contact:
Robert S. Bloom
Financial Relations Leader
Acxiom Corporation
(501) 342-1321



         Acxiom® Expects Fourth-Quarter Revenue, Earnings Shortfall

LITTLE  ROCK,  Ark-- April 8,  2003--  Acxiom®  Corporation  (Nasdaq:  ACXM)
announced  today that it  anticipates  that  revenue and earnings for the fourth
quarter  of  fiscal  2003  ended  March 31,  2003  will be below  the  Company's
previously stated expectations.  Acxiom will hold a conference call at 8:00 a.m.
CDT today to discuss this information further. Interested parties are invited to
listen to the call, which will be broadcast via the Internet at  www.acxiom.com.
Additional  detailed  financial  information  will be  issued  in the  quarterly
earnings news release on May 14, 2003 as previously scheduled.

Acxiom expects that fourth-quarter  revenues will be approximately $238 million,
compared to $225 million in revenue in the fourth quarter of last year. Earnings
per share is expected to be a loss of  approximately  $.22 to $.26.  The Company
expects  to  record  non-cash  write-offs  in the  range of $35  million  to $40
million,  or  approximately  $.25  to  $.29  per  share,   related  to  impaired
investments, software inventory and actions associated with certain unprofitable
operations.  Excluding  these  write-offs  earnings  per share  would  have been
approximately $.03.

"Coming off a strong December and excellent third-quarter  performance,  we were
optimistic that our business would continue to gain momentum  through the fourth
quarter," Company Leader Charles D. Morgan said.  "However,  the war in Iraq and
the continued  deterioration of the U.S. economy caused a sharp drop-off in data
sales as well as project-based  and volume-based  revenue in the quarter.  While
our fundamental value proposition  remains outstanding and new contract signings
were strong,  we have seen more clients  delay  programs and projects and remain
very conservative in all areas of discretionary corporate spending."

Morgan added,  "It is important to note that our cash flows have remained strong
and exceeded our prior guidance.  This strong cash flow  performance has allowed
us to continue to reduce debt and buy back Acxiom stock."

Morgan also announced that the Company in the quarter entered into new contracts
that are expected to deliver $25 million in annual revenue and renewals expected
to generate $103 million in annual revenue.



Outlook

The  financial  projections  stated  today  are based on the  Company's  current
expectations.  These  projections  are forward  looking,  and actual results may
differ materially.  These projections do not include the potential impact of any
mergers,  acquisitions,  divestitures or other business combinations that may be
completed in the future.

The forecast is based on the assumption  that the general  economic  environment
will not  substantially  change during the first quarter of the 2004 fiscal year
ending June 30, 2003,  during which the company  expects to generate  revenue of
$235  million  to $240  million  and  earnings  in the range of $.05 to $.10 per
share.  The Company expects to update its full fiscal-year 2004 estimates in its
May 14, 2003 earnings  release.  At this time the Company expects a reduction of
10 percent or less in its prior fiscal 2004  earnings  estimates and a reduction
of 5 percent or less in its revenue projections.

About Acxiom

Acxiom Corporation  (Nasdaq:  ACXM) integrates data,  services and technology to
create and deliver customer and information management solutions for many of the
largest,  most respected companies in the world. The core components of Acxiom's
innovative  solutions  are Customer Data  Integration  (CDI)  technology,  data,
database  services,  IT  outsourcing,  consulting  and  analytics,  and  privacy
leadership.  Founded in 1969, Acxiom is headquartered in Little Rock,  Arkansas,
with locations  throughout the United States, and in the United Kingdom,  France
and Australia.

This release and today's conference call contain forward-looking statements that
are subject to certain risks and  uncertainties  that could cause actual results
to differ materially; such statements include but are not necessarily limited to
the following: 1) that the business pipeline and that our current cost structure
will allow the Company to continue to meet or exceed  expectations;  2) that the
final  results of the  company  for the  quarter and fiscal year ended March 31,
2003 will be within the  indicated  ranges,  3) that the  future  results of the
company  will be within the  indicated  ranges and 4) that the general  economic
environment will not significantly  change between the present time and June 30,
2003. The following are important factors, among others, that could cause actual
results  to  differ  materially  from  these  forward-looking   statements:  The
possibility  that  certain  contracts  may not be closed or  closed  within  the
anticipated time frames; the possibility that certain contracts may not generate
the anticipated revenue or profitability; the possibility that economic or other
conditions  might lead to a reduction in demand for the  Company's  products and
services;  the possibility that the current economic  slowdown may worsen and/or
persist for an  unpredictable  period of time;  the  possibility  that  economic
conditions  will not  improve as  rapidly  as  expected;  the  possibility  that
significant  customers may experience extreme,  severe economic difficulty;  the
possibility  that the fair value of  certain  assets of the  company  may not be
equal to the carrying  value of those assets now or in future time periods;  the
possibility that sales cycles may lengthen; the continued ability to attract and
retain  qualified  technical and leadership  associates and the possible loss of
associates to other  organizations;  the ability to properly  motivate the sales
force  and  other  associates  of the  Company;  the  ability  to  achieve  cost




reductions and avoid unanticipated  costs; the continued  availability of credit
upon  satisfactory   terms  and  conditions;   the  introduction  of  competent,
competitive  products,  technologies or services by other companies;  changes in
consumer or business  information  industries and markets; the Company's ability
to  protect  proprietary  information  and  technology  or to  obtain  necessary
licenses on commercially  reasonable  terms; the  difficulties  encountered when
entering  new markets or  industries;  changes in the  legislative,  accounting,
regulatory and consumer environments  affecting the Company's business including
but not limited to litigation, legislation,  regulations and customs relating to
the Company's ability to collect, manage, aggregate and use data; data suppliers
might  withdraw  data from the Company,  leading to the  Company's  inability to
provide  certain  products  and  services;   short-term   contracts  affect  the
predictability of the Company's revenues;  the possibility that the amount of ad
hoc project  work will not be as  expected;  the  potential  loss of data center
capacity or interruption  of  telecommunication  links or power sources;  postal
rate  increases that could lead to reduced  volumes of business;  customers that
may cancel or modify their agreements with the Company; the potential disruption
of the services of the United States Postal Service,  their global  counterparts
and  other  delivery  systems;  the  successful   integration  of  any  acquired
businesses;  and other  competitive  factors.  With respect to the  providing of
products or services  outside the  Company's  primary base of  operations in the
U.S.,  all of the above factors and the difficulty of doing business in numerous
sovereign  jurisdictions  due to differences in culture,  laws and  regulations.
Other factors are detailed from time to time in the Company's  periodic  reports
and registration statements filed with the United States Securities and Exchange
Commission.  Acxiom  believes that it has the product and technology  offerings,
facilities,  associates and  competitive  and financial  resources for continued
business  success,  but future  revenues,  costs,  margins  and  profits are all
influenced by a number of factors, including those discussed above, all of which
are inherently difficult to forecast.  Acxiom undertakes no obligation to update
the  information  contained in this press  release or any other  forward-looking
statement.

                                       ###

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