UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
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CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported): July 30, 2012
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ACXIOM CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
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DELAWARE
(State or Other Jurisdiction of Incorporation)
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0-13163
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71-0581897
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(Commission File Number)
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(IRS Employer Identification No.)
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601 E. Third St., Little Rock, Arkansas
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72201
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(Address of Principal Executive Offices)
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(Zip Code)
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501-342-1000
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(Registrant’s Telephone Number, Including Area Code)
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Exhibit
Number
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Description
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99.1
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Press Release of the Company dated July 30, 2012 regarding first quarter earnings
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Exhibit
Number
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Description
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99.1
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Press Release of the Company dated July 30, 2012 regarding first quarter earnings
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·
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0perating margin increased to 9.4 percent, up approximately 2 percentage points year over year.
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·
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Acxiom repurchased 2.4 million shares for $33 million during the quarter. Since August 2011, the company has repurchased 8.1 million shares, or approximately 10 percent of the outstanding common stock, for $100 million.
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·
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In the quarter, Acxiom expanded its global partner program. The company was selected by Mindshare, a leading global media network, as the consumer insights provider for CORE, Mindshare’s new data-driven marketing intelligence platform. Through CORE, Acxiom delivers its unique breadth and accuracy of consumer insights to data-driven marketers. In Australia, the company and Yahoo!7 announced a new partnership to leverage Acxiom’s extensive offline data to deliver more highly effective online advertising.
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·
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Tim Cadogan, CEO of OpenX Technologies and former SVP of Global Advertising Marketplaces for Yahoo!, has been named to the Acxiom Board of Directors.
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John Battelle, founder and executive chairman of Federated Media Publishing, has been nominated as a candidate for election to the Board at the company’s August 16, 2012, annual stockholders meeting.
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Marketing and Data Services: Revenue for the first quarter was $186 million, roughly flat compared to $185 million for the same period a year ago. U.S. revenue of $160 million was up 2 percent, but was offset by declines internationally. Income from operations for the first quarter was $18 million, compared to $17 million in the prior period. Operating margin was 10 percent, compared to 9 percent in the previous year.
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IT Infrastructure Management: Revenue for the first quarter decreased 4 percent to $70 million, compared with $73 million for the same period a year ago. Income from operations for the quarter was $9 million, compared to $4 million in the prior period. Operating margin was approximately 13 percent compared to 6 percent a year ago.
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·
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Other Services: Revenue for the first quarter was $16 million, down from $18 million in the prior year. Losses from operations were approximately $2 million, compared to $1 million in the prior period.
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Revenue from continuing operations is expected to be flat to slightly down.
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·
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Earnings per diluted share attributable to Acxiom shareholders are expected to be in the range of $0.60 to $0.65.
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ACXIOM CORPORATION AND SUBSIDIARIES
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CONSOLIDATED STATEMENTS OF OPERATIONS
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(Unaudited)
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(Dollars in thousands, except earnings per share)
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For the Three Months Ended
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June 30,
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$ | % | |||||||||||||||
2012
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2011
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Variance
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Variance
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Revenue:
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||||||||||||||||
Marketing and data services
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185,676 | 184,996 | 680 | 0.4 | % | |||||||||||
IT Infrastructure management services
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70,290 | 73,050 | (2,760 | ) | (3.8 | %) | ||||||||||
Other services
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15,693 | 17,998 | (2,305 | ) | (12.8 | %) | ||||||||||
Total revenue
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271,659 | 276,044 | (4,385 | ) | (1.6 | %) | ||||||||||
Operating costs and expenses:
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Cost of revenue
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209,326 | 218,289 | 8,963 | 4.1 | % | |||||||||||
Selling, general and administrative
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36,749 | 36,807 | 58 | 0.2 | % | |||||||||||
Gains, losses and other items, net
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160 | 244 | 84 | 34.4 | % | |||||||||||
Total operating costs and expenses
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246,235 | 255,340 | 9,105 | 3.6 | % | |||||||||||
Income from operations
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25,424 | 20,704 | 4,720 | 22.8 | % | |||||||||||
% Margin
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9.4 | % | 7.5 | % | ||||||||||||
Other income (expense):
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Interest expense
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(3,240 | ) | (5,455 | ) | 2,215 | 40.6 | % | |||||||||
Other, net
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(547 | ) | (87 | ) | (460 | ) | (528.7 | %) | ||||||||
Total other income (expense)
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(3,787 | ) | (5,542 | ) | 1,755 | 31.7 | % | |||||||||
Earnings from continuing operations before income taxes
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21,637 | 15,162 | 6,475 | 42.7 | % | |||||||||||
Income taxes
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8,438 | 6,063 | (2,375 | ) | (39.2 | %) | ||||||||||
Net earnings from continuing operations
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13,199 | 9,099 | 4,100 | 45.1 | % | |||||||||||
Earnings from discontinued operations, net of tax
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- | 916 | (916 | ) | (100.0 | %) | ||||||||||
Net earnings
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13,199 | 10,015 | 3,184 | 31.8 | % | |||||||||||
Less: Net loss attributable to noncontrolling interest
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(134 | ) | (960 | ) | 826 | 86.0 | % | |||||||||
Net earnings attributable to Acxiom
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13,333 | 10,975 | 2,358 | 21.5 | % | |||||||||||
Basic earnings per share:
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Net earnings from continuing operations
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0.17 | 0.11 | 0.06 | 54.5 | % | |||||||||||
Earnings from discontinued operations
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0.00 | 0.01 | (0.01 | ) | (100.0 | %) | ||||||||||
Net earnings
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0.17 | 0.12 | 0.05 | 41.7 | % | |||||||||||
Net earnings attributable to Acxiom stockholders
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0.17 | 0.14 | 0.03 | 21.4 | % | |||||||||||
Diluted earnings per share:
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Net earnings from continuing operations
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0.17 | 0.11 | 0.06 | 54.5 | % | |||||||||||
Earnings from discontinued operations
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0.00 | 0.01 | (0.01 | ) | (100.0 | %) | ||||||||||
Net earnings
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0.17 | 0.12 | 0.05 | 41.7 | % | |||||||||||
Net earnings attributable to Acxiom stockholders
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0.17 | 0.13 | 0.04 | 30.8 | % | |||||||||||
ACXIOM CORPORATION AND SUBSIDIARIES
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CALCULATION OF EARNINGS PER SHARE
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(Unaudited)
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(In thousands, except earnings per share)
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For the Three Months Ended
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June 30,
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June 30,
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2012
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2011
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Basic earnings per share from continuing operations:
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Numerator - net earnings
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13,199 | 9,099 | ||||||
Denominator - weighted-average shares outstanding
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76,473 | 80,942 | ||||||
Basic earnings per share
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0.17 | 0.11 | ||||||
Basic earnings per share - net earnings attributable to Acxiom stockholders:
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Numerator - net earnings attributable to Acxiom
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13,333 | 10,975 | ||||||
Denominator - weighted-average shares outstanding
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76,473 | 80,942 | ||||||
Basic earnings per share - net earnings attributable to Acxiom stockholders
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0.17 | 0.14 | ||||||
Diluted earnings per share from continuing operations:
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Numerator - net earnings
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13,199 | 9,099 | ||||||
Denominator - weighted-average shares outstanding
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76,473 | 80,942 | ||||||
Dilutive effect of common stock options, warrants and restricted stock
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1,584 | 1,072 | ||||||
78,057 | 82,014 | |||||||
Diluted earnings per share from continuing operations
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0.17 | 0.11 | ||||||
Diluted earnings per share - net earnings attributable to Acxiom stockholders:
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Numerator - net earnings attributable to Acxiom
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13,333 | 10,975 | ||||||
Denominator - weighted-average shares outstanding
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76,473 | 80,942 | ||||||
Dilutive effect of common stock options, warrants, and restricted stock
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1,584 | 1,072 | ||||||
78,057 | 82,014 | |||||||
Diluted earnings per share - net earnings attributable to Acxiom stockholders
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0.17 | 0.13 | ||||||
ACXIOM CORPORATION AND SUBSIDIARIES
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RESULTS BY SEGMENT
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(Unaudited)
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(Dollars in thousands)
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For the Three Months Ended
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June 30,
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June 30,
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Revenue:
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2012
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2011
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Marketing and data services
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185,676 | 184,996 | ||||||
IT Infrastructure management services
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70,290 | 73,050 | ||||||
Other services
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15,693 | 17,998 | ||||||
Total revenue
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271,659 | 276,044 | ||||||
Income from continuing operations:
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Marketing and data services
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18,366 | 17,260 | ||||||
IT Infrastructure management services
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8,831 | 4,247 | ||||||
Other services
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(1,613 | ) | (559 | ) | ||||
Corporate
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(160 | ) | (244 | ) | ||||
Total income from continuing operations
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25,424 | 20,704 | ||||||
Margin:
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Marketing and data services
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9.9 | % | 9.3 | % | ||||
IT Infrastructure management services
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12.6 | % | 5.8 | % | ||||
Other services
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-10.3 | % | -3.1 | % | ||||
Total margin
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9.4 | % | 7.5 | % | ||||
ACXIOM CORPORATION AND SUBSIDIARIES
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CONDENSED CONSOLIDATED BALANCE SHEETS
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(Unaudited)
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(Dollars in thousands)
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June 30,
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March 31,
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$ | % | |||||||||||||
2012
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2012
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Variance
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Variance
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Assets
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Current assets:
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Cash and cash equivalents
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179,282 | 229,648 | (50,366 | ) | (21.9 | %) | ||||||||||
Trade accounts receivable, net
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172,549 | 169,446 | 3,103 | 1.8 | % | |||||||||||
Deferred income taxes
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14,688 | 15,107 | (419 | ) | (2.8 | %) | ||||||||||
Other current assets
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58,064 | 57,804 | 260 | 100.0 | % | |||||||||||
Total current assets
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424,583 | 472,005 | (47,422 | ) | (10.0 | %) | ||||||||||
Property and equipment
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798,908 | 913,073 | (114,165 | ) | (12.5 | %) | ||||||||||
Less - accumulated depreciation and amortization
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555,973 | 659,700 | (103,727 | ) | (15.7 | %) | ||||||||||
Property and equipment, net
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242,935 | 253,373 | (10,438 | ) | (4.1 | %) | ||||||||||
Software, net of accumulated amortization
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14,501 | 13,211 | 1,290 | 9.8 | % | |||||||||||
Goodwill
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381,439 | 382,285 | (846 | ) | (0.2 | %) | ||||||||||
Purchased software licenses, net of accumulated amortization
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24,548 | 25,294 | (746 | ) | (2.9 | %) | ||||||||||
Deferred costs, net
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56,600 | 61,977 | (5,377 | ) | (8.7 | %) | ||||||||||
Data acquisition costs
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13,785 | 15,009 | (1,224 | ) | (8.2 | %) | ||||||||||
Other assets, net
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3,163 | 3,697 | (534 | ) | (14.4 | %) | ||||||||||
1,161,554 | 1,226,851 | (65,297 | ) | (5.3 | %) | |||||||||||
Liabilities and Stockholders' Equity
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Current liabilities:
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Current installments of long-term debt
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24,905 | 26,336 | (1,431 | ) | (5.4 | %) | ||||||||||
Trade accounts payable
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23,442 | 31,030 | (7,588 | ) | (24.5 | %) | ||||||||||
Accrued payroll and related expenses
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31,585 | 54,839 | (23,254 | ) | (42.4 | %) | ||||||||||
Other accrued expenses
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78,535 | 77,062 | 1,473 | 1.9 | % | |||||||||||
Deferred revenue
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52,588 | 59,949 | (7,361 | ) | (12.3 | %) | ||||||||||
Income taxes
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9,966 | 16,400 | (6,434 | ) | (39.2 | %) | ||||||||||
Total current liabilities
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221,021 | 265,616 | (44,595 | ) | (16.8 | %) | ||||||||||
Long-term debt
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248,613 | 251,886 | (3,273 | ) | (1.3 | %) | ||||||||||
Deferred income taxes
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91,643 | 93,039 | (1,396 | ) | (1.5 | %) | ||||||||||
Other liabilities
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4,134 | 4,455 | (321 | ) | (7.2 | %) | ||||||||||
Stockholders' equity:
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Common stock
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12,055 | 12,003 | 52 | 0.4 | % | |||||||||||
Additional paid-in capital
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865,229 | 860,165 | 5,064 | 0.6 | % | |||||||||||
Retained earnings
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549,692 | 536,359 | 13,333 | 2.5 | % | |||||||||||
Accumulated other comprehensive income
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11,929 | 13,601 | (1,672 | ) | (12.3 | %) | ||||||||||
Treasury stock, at cost
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(842,736 | ) | (810,381 | ) | (32,355 | ) | (4.0 | %) | ||||||||
Total Acxiom stockholders' equity
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596,169 | 611,747 | (15,578 | ) | (2.5 | %) | ||||||||||
Noncontrolling interest
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(26 | ) | 108 | (134 | ) | (124.1 | %) | |||||||||
Total equity
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596,143 | 611,855 | (15,712 | ) | (2.6 | %) | ||||||||||
1,161,554 | 1,226,851 | (65,297 | ) | (5.3 | %) | |||||||||||
ACXIOM CORPORATION AND SUBSIDIARIES
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
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(Unaudited)
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(Dollars in thousands)
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For the Three Months Ended
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June 30,
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2012
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2011
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Cash flows from operating activities:
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Net earnings
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13,199 | 10,015 | ||||||
Non-cash operating activities:
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Depreciation and amortization
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30,995 | 35,295 | ||||||
Loss on disposal or impairment of assets
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24 | - | ||||||
Deferred income taxes
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(1,403 | ) | 37 | |||||
Non-cash stock compensation expense
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2,653 | 2,355 | ||||||
Changes in operating assets and liabilities:
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Accounts receivable
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(4,609 | ) | (3,622 | ) | ||||
Other assets
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(1,397 | ) | (8,517 | ) | ||||
Deferred costs
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(647 | ) | (386 | ) | ||||
Accounts payable and other liabilities
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(33,464 | ) | (3,674 | ) | ||||
Deferred revenue
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(7,218 | ) | 1,251 | |||||
Net cash provided (used) by operating activities
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(1,867 | ) | 32,754 | |||||
Cash flows from investing activities:
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Capitalized software
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(3,673 | ) | (529 | ) | ||||
Capital expenditures
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(3,538 | ) | (12,577 | ) | ||||
Data acquisition costs
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(2,302 | ) | (2,776 | ) | ||||
Net cash paid in acquisitions
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- | (255 | ) | |||||
Net cash used by investing activities
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(9,513 | ) | (16,137 | ) | ||||
Cash flows from financing activities:
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Payments of debt
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(6,856 | ) | (32,312 | ) | ||||
Sale of common stock
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1,761 | 39 | ||||||
Contingent consideration paid for prior acquisitions
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(287 | ) | (326 | ) | ||||
Acquisition of treasury stock
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(33,097 | ) | - | |||||
Net cash used by financing activities
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(38,479 | ) | (32,599 | ) | ||||
Effect of exchange rate changes on cash
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(507 | ) | 53 | |||||
Net change in cash and cash equivalents
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(50,366 | ) | (15,929 | ) | ||||
Cash and cash equivalents at beginning of period
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229,648 | 206,973 | ||||||
Cash and cash equivalents at end of period
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179,282 | 191,044 | ||||||
Supplemental cash flow information:
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Cash paid during the period for:
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Interest
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3,223 | 5,589 | ||||||
Income taxes
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16,193 | 1,098 | ||||||
Payments on capital leases and installment payment arrangements
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4,562 | 4,794 | ||||||
Payments on software and data license liabilities
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129 | 367 | ||||||
Other debt payments, excluding line of credit
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2,165 | 2,151 | ||||||
Prepayment of debt
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- | 25,000 | ||||||
Noncash investing and financing activities:
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||||||||
Acquisition of property and equipment under capital lease
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and installment payment arrangements
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2,157 | 3,747 | ||||||
ACXIOM CORPORATION AND SUBSIDIARIES
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CALCULATION OF FREE CASH FLOW AVAILABLE TO EQUITY
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AND RECONCILIATION TO OPERATING CASH FLOW
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||||||||||||||||||||||||||||||||
(Unaudited)
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||||||||||||||||||||||||||||||||
(Dollars in thousands)
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||||||||||||||||||||||||||||||||
06/30/11
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09/30/11
|
12/31/11
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03/31/12
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FY2012
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06/30/12
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TTM 6/30/11
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TTM 6/30/12
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|||||||||||||||||||||||||
Net cash provided (used) by operating activities
|
32,754 | 57,714 | 82,540 | 56,443 | 229,451 | (1,867 | ) | 181,985 | 194,830 | |||||||||||||||||||||||
Less:
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||||||||||||||||||||||||||||||||
Disposition of operations
|
- | (1,043 | ) | - | 73,468 | 72,425 | - | - | 72,425 | |||||||||||||||||||||||
Capitalized software
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(529 | ) | (991 | ) | (1,647 | ) | (2,095 | ) | (5,262 | ) | (3,673 | ) | (3,858 | ) | (8,406 | ) | ||||||||||||||||
Capital expenditures
|
(12,577 | ) | (12,134 | ) | (14,436 | ) | (12,444 | ) | (51,591 | ) | (3,538 | ) | (62,846 | ) | (42,552 | ) | ||||||||||||||||
Data acquisition costs
|
(2,776 | ) | (1,774 | ) | (3,999 | ) | (3,763 | ) | (12,312 | ) | (2,302 | ) | (11,816 | ) | (11,838 | ) | ||||||||||||||||
Payments on capital leases and installment payment arrangements
|
(4,794 | ) | (4,184 | ) | (4,709 | ) | (4,644 | ) | (18,331 | ) | (4,562 | ) | (21,183 | ) | (18,099 | ) | ||||||||||||||||
Payments on software and data license liabilities
|
(367 | ) | (124 | ) | (125 | ) | (2,300 | ) | (2,916 | ) | (129 | ) | (4,790 | ) | (2,678 | ) | ||||||||||||||||
Other required debt payments
|
(2,151 | ) | (2,155 | ) | (2,159 | ) | (2,164 | ) | (8,629 | ) | (2,165 | ) | (8,476 | ) | (8,643 | ) | ||||||||||||||||
Total
|
9,560 | 35,309 | 55,465 | 102,501 | 202,835 | (18,236 | ) | 69,016 | 175,039 | |||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS
|
||||||||||||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||||||||||||
(Dollars in thousands, except earnings per share)
|
||||||||||||||||||||||||||||||||
Q1 FY13 to Q1 FY12
|
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06/30/11
|
09/30/11
|
12/31/11
|
03/31/12
|
FY2012
|
06/30/12
|
%
|
$ | |||||||||||||||||||||||||
Revenue:
|
||||||||||||||||||||||||||||||||
Marketing and data services
|
184,996 | 195,857 | 187,461 | 203,400 | 771,714 | 185,676 | 0.4 | % | 680 | |||||||||||||||||||||||
IT Infrastructure management services
|
73,050 | 73,712 | 77,173 | 67,590 | 291,525 | 70,290 | -3.8 | % | (2,760 | ) | ||||||||||||||||||||||
Other services
|
17,998 | 16,863 | 16,259 | 16,265 | 67,385 | 15,693 | -12.8 | % | (2,305 | ) | ||||||||||||||||||||||
Total revenue
|
276,044 | 286,432 | 280,893 | 287,255 | 1,130,624 | 271,659 | -1.6 | % | (4,385 | ) | ||||||||||||||||||||||
Operating costs and expenses:
|
||||||||||||||||||||||||||||||||
Cost of revenue
|
218,289 | 217,487 | 213,925 | 213,788 | 863,489 | 209,326 | 4.1 | % | 8,963 | |||||||||||||||||||||||
Selling, general and administrative
|
36,807 | 39,429 | 36,318 | 38,577 | 151,131 | 36,749 | 0.2 | % | 58 | |||||||||||||||||||||||
Impairment of goodwill and other intangibles
|
- | - | 17,803 | - | 17,803 | - | 0 | |||||||||||||||||||||||||
Gains, losses and other items, net
|
244 | 2,465 | (2,671 | ) | 12,600 | 12,638 | 160 | 34.4 | % | 84 | ||||||||||||||||||||||
Total operating costs and expenses
|
255,340 | 259,381 | 265,375 | 264,965 | 1,045,061 | 246,235 | 3.6 | % | 9,105 | |||||||||||||||||||||||
Income from operations
|
20,704 | 27,051 | 15,518 | 22,290 | 85,563 | 25,424 | 22.8 | % | 4,720 | |||||||||||||||||||||||
% Margin
|
7.5 | % | 9.4 | % | 5.5 | % | 7.8 | % | 7.6 | % | 9.4 | % | ||||||||||||||||||||
Other income (expense)
|
||||||||||||||||||||||||||||||||
Interest expense
|
(5,455 | ) | (4,719 | ) | (3,883 | ) | (3,391 | ) | (17,448 | ) | (3,240 | ) | -40.6 | % | 2,215 | |||||||||||||||||
Other, net
|
(87 | ) | (965 | ) | (98 | ) | (219 | ) | (1,369 | ) | (547 | ) | -528.7 | % | (460 | ) | ||||||||||||||||
Total other income (expense)
|
(5,542 | ) | (5,684 | ) | (3,981 | ) | (3,610 | ) | (18,817 | ) | (3,787 | ) | 31.7 | % | 1,755 | |||||||||||||||||
Earnings from continuing operations before income taxes
|
15,162 | 21,367 | 11,537 | 18,680 | 66,746 | 21,637 | 42.7 | % | 6,475 | |||||||||||||||||||||||
Income taxes
|
6,063 | 9,528 | 9,700 | 3,838 | 29,129 | 8,438 | -39.2 | % | (2,375 | ) | ||||||||||||||||||||||
Net earnings from continuing operations
|
9,099 | 11,839 | 1,837 | 14,842 | 37,617 | 13,199 | 45.1 | % | 4,100 | |||||||||||||||||||||||
Earnings from discontinued operations, net of tax
|
916 | 1,138 | 814 | 31,031 | 33,899 | - | -100.0 | % | (916 | ) | ||||||||||||||||||||||
Net earnings
|
10,015 | 12,977 | 2,651 | 45,873 | 71,516 | 13,199 | 31.8 | % | 3,184 | |||||||||||||||||||||||
Less: Net earnings (loss) attributable
|
||||||||||||||||||||||||||||||||
to noncontrolling interest
|
(960 | ) | 685 | (5,279 | ) | (193 | ) | (5,747 | ) | (134 | ) | 86.0 | % | 826 | ||||||||||||||||||
Net earnings attributable to Acxiom
|
10,975 | 12,292 | 7,930 | 46,066 | 77,263 | 13,333 | 21.5 | % | 2,358 | |||||||||||||||||||||||
Diluted earnings per share - net earnings attributable
|
||||||||||||||||||||||||||||||||
to Acxiom stockholders
|
0.13 | 0.15 | 0.10 | 0.58 | 0.96 | 0.17 | 30.8 | % | 0.04 | |||||||||||||||||||||||
ACXIOM CORPORATION AND SUBSIDIARIES
|
||||||||||||||||||||||||||||||||
RESULTS BY SEGMENT
|
||||||||||||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||||||||||||||
Q1 FY13 to Q1 FY12
|
||||||||||||||||||||||||||||||||
06/30/11
|
09/30/11
|
12/31/11
|
03/31/12
|
FY2012
|
06/30/12
|
%
|
$ | |||||||||||||||||||||||||
Revenue:
|
||||||||||||||||||||||||||||||||
Marketing and data services
|
184,996 | 195,857 | 187,461 | 203,400 | 771,714 | 185,676 | 0 | % | 680 | |||||||||||||||||||||||
IT Infrastructure management services
|
73,050 | 73,712 | 77,173 | 67,590 | 291,525 | 70,290 | -4 | % | (2,760 | ) | ||||||||||||||||||||||
Other services
|
17,998 | 16,863 | 16,259 | 16,265 | 67,385 | 15,693 | -13 | % | (2,305 | ) | ||||||||||||||||||||||
Total revenue
|
276,044 | 286,432 | 280,893 | 287,255 | 1,130,624 | 271,659 | -2 | % | (4,385 | ) | ||||||||||||||||||||||
Income from operations:
|
||||||||||||||||||||||||||||||||
Marketing and data services
|
17,260 | 27,078 | 21,388 | 30,094 | 95,820 | 18,366 | 6 | % | 1,106 | |||||||||||||||||||||||
IT Infrastructure management services
|
4,247 | 5,091 | 9,795 | 5,855 | 24,988 | 8,831 | 108 | % | 4,584 | |||||||||||||||||||||||
Other services
|
(559 | ) | (2,653 | ) | (533 | ) | (1,059 | ) | (4,804 | ) | (1,613 | ) | -189 | % | (1,054 | ) | ||||||||||||||||
Corporate
|
(244 | ) | (2,465 | ) | (15,132 | ) | (12,600 | ) | (30,441 | ) | (160 | ) | 34 | % | 84 | |||||||||||||||||
Total income (loss) from operations
|
20,704 | 27,051 | 15,518 | 22,290 | 85,563 | 25,424 | 23 | % | 4,720 | |||||||||||||||||||||||
Margin:
|
||||||||||||||||||||||||||||||||
Marketing and data services
|
9.3 | % | 13.8 | % | 11.4 | % | 14.8 | % | 12.4 | % | 9.9 | % | ||||||||||||||||||||
IT Infrastructure management services
|
5.8 | % | 6.9 | % | 12.7 | % | 8.7 | % | 8.6 | % | 12.6 | % | ||||||||||||||||||||
Other services
|
-3.1 | % | -15.7 | % | -3.3 | % | -6.5 | % | -7.1 | % | -10.3 | % | ||||||||||||||||||||
Total
|
7.5 | % | 9.4 | % | 5.5 | % | 7.8 | % | 7.6 | % | 9.4 | % | ||||||||||||||||||||