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 31, 2013
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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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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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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 31, 2013
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Title:
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Chief Ethics and Legal Officer & Executive Vice President
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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 31, 2013
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·
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The company announced the scheduled launch of the Acxiom Audience Operating System. The company intends to launch the Acxiom AOS at AdWeek in New York City on September 24.
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·
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The Company added several new Marketing and Data Services customers during the quarter including:
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ü
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Springleaf Financial. Springleaf will use Acxiom's Acquisition Database Solution, which supports customer and prospect marketing across all customer touch points, including mobile, email and direct mail.
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ü
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Wellmark Inc. Acxiom will assist Wellmark in understanding and executing its consumer marketing programs by providing data and campaign management expertise. The company will also collaborate with Wellmark on analytics and performance reporting.
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ü
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U.S. Cellular. Acxiom will provide customer recognition, data enhancement and analytics services. The company will provide customer data integration and data support for consumer marketing across all touch points, including mobile, email and direct mail.
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·
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Acxiom now has partner relationships with five of the six largest publishers in the U.S. This extends Acxiom’s reach to approaching 100 percent of unique visitors across the internet.
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·
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Acxiom repurchased approximately 720,000 shares for $16.1 million during the quarter. Since inception of the share repurchase program in August 2011, the company has repurchased 11.1 million shares, or approximately 13.5 percent of the outstanding common stock, for $156 million. The company’s total share repurchase authorization is $200 million.
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·
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Marketing and Data Services: Revenue for the first quarter decreased slightly to $188 million, as compared to $192 million for the same period a year ago. U.S. revenue of $163 million decreased 2 percent compared to $167 million in the prior period. The quarterly results reflect the move of the company’s email business from the Other Services segment to the Marketing and Data Service segment. This change was made as a result of how the company now assesses segment results. Income from operations for the first quarter was $13 million, compared to $19 million in the prior period. Operating margin was 7 percent, compared to 10 percent in the previous year. This decline is primarily related to our investment spending in the Acxiom Audience Operating System and increased selling, general and administrative expense.
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·
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IT Infrastructure Management: Revenue for the first quarter decreased 1 percent to $69 million, compared to $70 million for the same period a year ago. Income from operations for the quarter was $11 million compared to $9 million in the comparable period. Operating margin was approximately 16 percent, compared to 13 percent.
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·
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Other Services: Revenue was $9 million, flat as compared to the prior-year period. Operating income was $1 million compared to a loss of $2 million in the prior period.
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·
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We expect revenue for the fiscal year to be roughly flat as compared to $1.099 billion in fiscal 2013. Revenue growth in Marketing and Data Services is expected to be offset by a decline in IT Infrastructure Management.
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·
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Earnings per diluted share attributable to Acxiom shareholders are also expected to be roughly flat.
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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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||||||||||||||||
$ | % | |||||||||||||||
2013
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2012
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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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187,793 | 192,482 | (4,689 | ) | (2.4 | %) | ||||||||||
IT Infrastructure management services
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69,385 | 70,290 | (905 | ) | (1.3 | %) | ||||||||||
Other services
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9,015 | 8,887 | 128 | 1.4 | % | |||||||||||
Total Revenue
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266,193 | 271,659 | (5,466 | ) | (2.0 | %) | ||||||||||
Operating costs and expenses:
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||||||||||||||||
Cost of revenue
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202,412 | 209,311 | (6,899 | ) | (3.3 | %) | ||||||||||
Selling, general and administrative
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39,709 | 36,764 | 2,945 | 8.0 | % | |||||||||||
Gains, losses and other items, net
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- | 160 | (160 | ) | (100.0 | %) | ||||||||||
Total operating costs and expenses
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242,121 | 246,235 | (4,114 | ) | (1.7 | %) | ||||||||||
Income from operations
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24,072 | 25,424 | (1,352 | ) | (5.3 | %) | ||||||||||
% Margin
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9.0 | % | 9.4 | % | ||||||||||||
Other income (expense):
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||||||||||||||||
Interest expense
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(3,019 | ) | (3,240 | ) | 221 | 6.8 | % | |||||||||
Other, net
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104 | (547 | ) | 651 | 119.0 | % | ||||||||||
Total other income (expense)
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(2,915 | ) | (3,787 | ) | 872 | 23.0 | % | |||||||||
Earnings before income taxes
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21,157 | 21,637 | (480 | ) | (2.2 | %) | ||||||||||
Income taxes
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8,062 | 8,438 | (376 | ) | (4.5 | %) | ||||||||||
Net earnings
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13,095 | 13,199 | (104 | ) | (0.8 | %) | ||||||||||
Less: Net loss attributable to noncontrolling interest
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(85 | ) | (134 | ) | 49 | 36.6 | % | |||||||||
Net earnings attributable to Acxiom
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13,180 | 13,333 | (153 | ) | (1.1 | %) | ||||||||||
Basic earnings per share:
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Net earnings
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0.18 | 0.17 | 0.01 | 5.9 | % | |||||||||||
Net earnings attributable to Acxiom stockholders
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0.18 | 0.17 | 0.01 | 5.9 | % | |||||||||||
Diluted earnings per share:
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||||||||||||||||
Net earnings
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0.17 | 0.17 | 0.00 | 0.0 | % | |||||||||||
Net earnings attributable to Acxiom stockholders
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0.17 | 0.17 | 0.00 | 0.0 | % | |||||||||||
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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2013
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2012
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Basic earnings per share
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Numerator - net earnings
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13,095 | 13,199 | ||||||
Denominator - weighted-average shares outstanding
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73,679 | 76,473 | ||||||
Basic earnings per share
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0.18 | 0.17 | ||||||
Basic earnings per share - net earnings attributable to Acxiom stockholders:
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Numerator - net earnings attributable to Acxiom
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13,180 | 13,333 | ||||||
Denominator - weighted-average shares outstanding
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73,679 | 76,473 | ||||||
Basic earnings per share - net earnings attributable to Acxiom stockholders
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0.18 | 0.17 | ||||||
Diluted earnings per share
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Numerator - net earnings
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13,095 | 13,199 | ||||||
Denominator - weighted average shares outstanding
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73,679 | 76,473 | ||||||
Dilutive effect of common stock options, warrants and restricted stock
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1,812 | 1,584 | ||||||
75,491 | 78,057 | |||||||
Diluted earnings per share
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0.17 | 0.17 | ||||||
Diluted earnings per share - net earnings attributable to Acxiom stockholders:
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Numerator - net earnings attributable to Acxiom
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13,180 | 13,333 | ||||||
Denominator - weighted-average shares outstanding
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73,679 | 76,473 | ||||||
Dilutive effect of common stock options, warrants, and restricted stock
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1,812 | 1,584 | ||||||
75,491 | 78,057 | |||||||
Diluted earnings per share - net earnings attributable to Acxiom stockholders
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0.17 | 0.17 | ||||||
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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2013
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2012
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Marketing and data services
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187,793 | 192,482 | ||||||
IT Infrastructure management services
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69,385 | 70,290 | ||||||
Other services
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9,015 | 8,887 | ||||||
Total Revenue
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266,193 | 271,659 | ||||||
Income from operations:
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Marketing and data services
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12,657 | 18,703 | ||||||
IT Infrastructure management services
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10,761 | 8,831 | ||||||
Other services
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654 | (1,950 | ) | |||||
Corporate
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- | (160 | ) | |||||
Total income from operations
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24,072 | 25,424 | ||||||
Margin:
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Marketing and data services
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6.7 | % | 9.7 | % | ||||
IT Infrastructure management services
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15.5 | % | 12.6 | % | ||||
Other services
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7.3 | % | -21.9 | % | ||||
Total margin
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9.0 | % | 9.4 | % | ||||
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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$ | % | |||||||||||||
2013
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2013
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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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207,630 | 222,974 | (15,344 | ) | (6.9 | %) | ||||||||||
Trade accounts receivable, net
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159,654 | 159,882 | (228 | ) | (0.1 | %) | ||||||||||
Deferred income taxes
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13,575 | 13,496 | 79 | 0.6 | % | |||||||||||
Refundable income taxes
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- | 5,809 | (5,809 | ) | (100.0 | %) | ||||||||||
Other current assets
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55,955 | 58,935 | (2,980 | ) | (5.1 | %) | ||||||||||
Total current assets
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436,814 | 461,096 | (24,282 | ) | (5.3 | %) | ||||||||||
Property and equipment
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830,269 | 822,439 | 7,830 | 1.0 | % | |||||||||||
Less - accumulated depreciation and amortization
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603,662 | 591,687 | 11,975 | 2.0 | % | |||||||||||
Property and equipment, net
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226,607 | 230,752 | (4,145 | ) | (1.8 | %) | ||||||||||
Software, net of accumulated amortization
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28,823 | 24,471 | 4,352 | 17.8 | % | |||||||||||
Goodwill
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379,203 | 381,129 | (1,926 | ) | (0.5 | %) | ||||||||||
Purchased software licenses, net of accumulated amortization
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23,931 | 23,604 | 327 | 1.4 | % | |||||||||||
Deferred costs, net
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37,194 | 42,971 | (5,777 | ) | (13.4 | %) | ||||||||||
Data acquisition costs
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9,849 | 10,631 | (782 | ) | (7.4 | %) | ||||||||||
Other assets, net
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12,868 | 13,052 | (184 | ) | (1.4 | %) | ||||||||||
1,155,289 | 1,187,706 | (32,417 | ) | (2.7 | %) | |||||||||||
Liabilities and Stockholders' Equity
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Current liabilities:
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Current installments of long-term debt
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14,777 | 16,105 | (1,328 | ) | (8.2 | %) | ||||||||||
Trade accounts payable
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34,556 | 35,786 | (1,230 | ) | (3.4 | %) | ||||||||||
Accrued payroll and related expenses
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30,487 | 62,390 | (31,903 | ) | (51.1 | %) | ||||||||||
Other accrued expenses
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67,952 | 68,270 | (318 | ) | (0.5 | %) | ||||||||||
Deferred revenue
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44,360 | 41,388 | 2,972 | 7.2 | % | |||||||||||
Income taxes
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2,396 | 637 | 1,759 | 276.1 | % | |||||||||||
Total current liabilities
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194,528 | 224,576 | (30,048 | ) | (13.4 | %) | ||||||||||
Long-term debt
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233,838 | 237,400 | (3,562 | ) | (1.5 | %) | ||||||||||
Deferred income taxes
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94,260 | 94,918 | (658 | ) | (0.7 | %) | ||||||||||
Other liabilities
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9,952 | 11,444 | (1,492 | ) | (13.0 | %) | ||||||||||
Stockholders' equity:
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||||||||||||||||
Common stock
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12,214 | 12,134 | 80 | 0.7 | % | |||||||||||
Additional paid-in capital
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895,452 | 885,184 | 10,268 | 1.2 | % | |||||||||||
Retained earnings
|
607,146 | 593,966 | 13,180 | 2.2 | % | |||||||||||
Accumulated other comprehensive income
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8,874 | 11,423 | (2,549 | ) | (22.3 | %) | ||||||||||
Treasury stock, at cost
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(900,510 | ) | (882,959 | ) | (17,551 | ) | (2.0 | %) | ||||||||
Total Acxiom stockholders' equity
|
623,176 | 619,748 | 3,428 | 0.6 | % | |||||||||||
Noncontrolling interest
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(465 | ) | (380 | ) | (85 | ) | (22.4 | %) | ||||||||
Total equity
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622,711 | 619,368 | 3,343 | 0.5 | % | |||||||||||
1,155,289 | 1,187,706 | (32,417 | ) | (2.7 | %) | |||||||||||
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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2013
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2012
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Cash flows from operating activities:
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||||||||
Net earnings
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13,095 | 13,199 | ||||||
Non-cash operating activities:
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||||||||
Depreciation and amortization
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25,185 | 30,995 | ||||||
Loss on disposal or impairment of assets
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- | 24 | ||||||
Deferred income taxes
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(588 | ) | (1,403 | ) | ||||
Non-cash stock compensation expense
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3,181 | 2,653 | ||||||
Changes in operating assets and liabilities:
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Accounts receivable
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1,140 | (4,609 | ) | |||||
Other assets
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878 | (1,397 | ) | |||||
Deferred costs
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- | (647 | ) | |||||
Accounts payable and other liabilities
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(27,309 | ) | (33,464 | ) | ||||
Deferred revenue
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1,267 | (7,218 | ) | |||||
Net cash provided (used) by operating activities
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16,849 | (1,867 | ) | |||||
Cash flows from investing activities:
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||||||||
Capitalized software
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(5,954 | ) | (3,673 | ) | ||||
Capital expenditures
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(8,920 | ) | (3,538 | ) | ||||
Data acquisition costs
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(1,961 | ) | (2,302 | ) | ||||
Net cash used by investing activities
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(16,835 | ) | (9,513 | ) | ||||
Cash flows from financing activities:
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||||||||
Payments of debt
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(4,890 | ) | (6,856 | ) | ||||
Sale of common stock
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5,755 | 1,761 | ||||||
Contingent consideration paid for prior acquisitions
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- | (287 | ) | |||||
Acquisition of treasury stock
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(16,139 | ) | (33,097 | ) | ||||
Net cash used by financing activities
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(15,274 | ) | (38,479 | ) | ||||
Effect of exchange rate changes on cash
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(84 | ) | (507 | ) | ||||
Net change in cash and cash equivalents
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(15,344 | ) | (50,366 | ) | ||||
Cash and cash equivalents at beginning of period
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222,974 | 229,648 | ||||||
Cash and cash equivalents at end of period
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207,630 | 179,282 | ||||||
Supplemental cash flow information:
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||||||||
Cash paid during the period for:
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||||||||
Interest
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3,011 | 3,223 | ||||||
Income taxes
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1,084 | 16,193 | ||||||
Payments on capital leases and installment payment arrangements
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4,400 | 4,562 | ||||||
Payments on software and data license liabilities
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- | 129 | ||||||
Other debt payments, excluding line of credit
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490 | 2,165 | ||||||
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 | ||||||
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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||||||||||||||||||||||||||||||||
06/30/12
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09/30/12
|
12/31/12
|
03/31/13
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YTD FY2013
|
06/30/13
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TTM 6/30/12
|
TTM 6/30/13
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|||||||||||||||||||||||||
Net cash provided (used) by operating activities
|
(1,867 | ) | 39,235 | 38,543 | 74,221 | 150,132 | 16,849 | 194,830 | 168,848 | |||||||||||||||||||||||
Less:
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||||||||||||||||||||||||||||||||
Disposition of operations
|
- | - | - | - | - | - | 72,425 | - | ||||||||||||||||||||||||
Capitalized software
|
(3,673 | ) | (4,074 | ) | (5,443 | ) | (6,689 | ) | (19,879 | ) | (5,954 | ) | (8,406 | ) | (22,160 | ) | ||||||||||||||||
Capital expenditures
|
(3,538 | ) | (8,178 | ) | (10,260 | ) | (16,515 | ) | (38,491 | ) | (8,920 | ) | (42,552 | ) | (43,873 | ) | ||||||||||||||||
Data acquisition costs
|
(2,302 | ) | (1,396 | ) | (2,766 | ) | (2,106 | ) | (8,570 | ) | (1,961 | ) | (11,838 | ) | (8,229 | ) | ||||||||||||||||
Payments on capital leases and installment payment arrangements
|
(4,562 | ) | (4,384 | ) | (4,002 | ) | (3,566 | ) | (16,514 | ) | (4,400 | ) | (18,099 | ) | (16,352 | ) | ||||||||||||||||
Payments on software and data license liabilities
|
(129 | ) | (130 | ) | (78 | ) | (1,432 | ) | (1,769 | ) | - | (2,678 | ) | (1,640 | ) | |||||||||||||||||
Other required debt payments
|
(2,165 | ) | (2,168 | ) | (2,172 | ) | (2,083 | ) | (8,588 | ) | (490 | ) | (8,643 | ) | (6,913 | ) | ||||||||||||||||
Total
|
(18,236 | ) | 18,905 | 13,822 | 41,830 | 56,321 | (4,876 | ) | 175,039 | 69,681 | ||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS
|
||||||||||||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||||||||||||
(Dollars in thousands, except earnings per share)
|
||||||||||||||||||||||||||||||||
Q1 FY14 to Q1 FY13
|
||||||||||||||||||||||||||||||||
06/30/12
|
09/30/12
|
12/31/12
|
03/31/13
|
YTD FY2013
|
06/30/13
|
%
|
$ | |||||||||||||||||||||||||
Revenue:
|
||||||||||||||||||||||||||||||||
Marketing and data services
|
192,482 | 198,602 | 195,146 | 202,510 | 788,740 | 187,793 | -2.4 | % | (4,689 | ) | ||||||||||||||||||||||
IT Infrastructure management services
|
70,290 | 70,061 | 69,916 | 65,202 | 275,469 | 69,385 | -1.3 | % | (905 | ) | ||||||||||||||||||||||
Other services
|
8,887 | 8,804 | 8,040 | 9,419 | 35,150 | 9,015 | 1.4 | % | 128 | |||||||||||||||||||||||
Total revenue
|
271,659 | 277,467 | 273,102 | 277,131 | 1,099,359 | 266,193 | -2.0 | % | (5,466 | ) | ||||||||||||||||||||||
Operating costs and expenses:
|
||||||||||||||||||||||||||||||||
Cost of revenue
|
209,311 | 209,164 | 208,848 | 213,317 | 840,640 | 202,412 | -3.3 | % | (6,899 | ) | ||||||||||||||||||||||
Selling, general and administrative
|
36,764 | 38,063 | 37,482 | 41,681 | 153,990 | 39,709 | 8.0 | % | 2,945 | |||||||||||||||||||||||
Gains, losses and other items, net
|
160 | 32 | (126 | ) | 1,944 | 2,010 | - | -100.0 | % | (160 | ) | |||||||||||||||||||||
Total operating costs and expenses
|
246,235 | 247,259 | 246,204 | 256,942 | 996,640 | 242,121 | -1.7 | % | (4,114 | ) | ||||||||||||||||||||||
Income from operations
|
25,424 | 30,208 | 26,898 | 20,189 | 102,719 | 24,072 | -5.3 | % | (1,352 | ) | ||||||||||||||||||||||
% Margin
|
9.4 | % | 10.9 | % | 9.8 | % | 7.3 | % | 9.3 | % | 9.0 | % | ||||||||||||||||||||
Other expense
|
||||||||||||||||||||||||||||||||
Interest expense
|
(3,240 | ) | (3,317 | ) | (3,178 | ) | (2,959 | ) | (12,694 | ) | (3,019 | ) | 6.8 | % | 221 | |||||||||||||||||
Other, net
|
(547 | ) | (54 | ) | 565 | 188 | 152 | 104 | 119.0 | % | 651 | |||||||||||||||||||||
Total other expense
|
(3,787 | ) | (3,371 | ) | (2,613 | ) | (2,771 | ) | (12,542 | ) | (2,915 | ) | -23.0 | % | 872 | |||||||||||||||||
Earnings before income taxes
|
21,637 | 26,837 | 24,285 | 17,418 | 90,177 | 21,157 | -2.2 | % | (480 | ) | ||||||||||||||||||||||
Income taxes
|
8,438 | 10,465 | 9,836 | 4,319 | 33,058 | 8,062 | -4.5 | % | (376 | ) | ||||||||||||||||||||||
Net earnings
|
13,199 | 16,372 | 14,449 | 13,099 | 57,119 | 13,095 | -0.8 | % | (104 | ) | ||||||||||||||||||||||
Less: Net loss attributable
|
||||||||||||||||||||||||||||||||
to noncontrolling interest
|
(134 | ) | (139 | ) | (76 | ) | (139 | ) | (488 | ) | (85 | ) | 36.6 | % | 49 | |||||||||||||||||
Net earnings attributable to Acxiom
|
13,333 | 16,511 | 14,525 | 13,238 | 57,607 | 13,180 | -1.1 | % | (153 | ) | ||||||||||||||||||||||
Diluted earnings per share - net earnings attributable
|
||||||||||||||||||||||||||||||||
to Acxiom stockholders
|
0.17 | 0.21 | 0.19 | 0.18 | 0.75 | 0.17 | 0.0 | % | 0.00 | |||||||||||||||||||||||
RESULTS BY SEGMENT
|
||||||||||||||||||||||||||||||||
(Unaudited)
|
||||||||||||||||||||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||||||||||||||
Q1 FY14 to Q1 FY13
|
||||||||||||||||||||||||||||||||
06/30/12
|
09/30/12
|
12/31/12
|
03/31/13
|
YTD FY2013
|
06/30/13
|
%
|
$ | |||||||||||||||||||||||||
Revenue:
|
||||||||||||||||||||||||||||||||
Marketing and data services
|
192,482 | 198,602 | 195,146 | 202,510 | 788,740 | 187,793 | -2 | % | (4,689 | ) | ||||||||||||||||||||||
IT Infrastructure management services
|
70,290 | 70,061 | 69,916 | 65,202 | 275,469 | 69,385 | -1 | % | (905 | ) | ||||||||||||||||||||||
Other services
|
8,887 | 8,804 | 8,040 | 9,419 | 35,150 | 9,015 | 1 | % | 128 | |||||||||||||||||||||||
Total revenue
|
271,659 | 277,467 | 273,102 | 277,131 | 1,099,359 | 266,193 | -2 | % | (5,466 | ) | ||||||||||||||||||||||
Marketing and data services
|
18,703 | 22,262 | 18,186 | 20,866 | 80,017 | 12,657 | -32 | % | (6,046 | ) | ||||||||||||||||||||||
IT Infrastructure management services
|
8,831 | 8,520 | 9,622 | 2,357 | 29,330 | 10,761 | 22 | % | 1,930 | |||||||||||||||||||||||
Other services
|
(1,950 | ) | (542 | ) | (1,036 | ) | (1,090 | ) | (4,618 | ) | 654 | 134 | % | 2,604 | ||||||||||||||||||
Corporate
|
(160 | ) | (32 | ) | 126 | (1,944 | ) | (2,010 | ) | - | 100 | % | 160 | |||||||||||||||||||
Total income from operations
|
25,424 | 30,208 | 26,898 | 20,189 | 102,719 | 24,072 | -5 | % | (1,352 | ) | ||||||||||||||||||||||
Margin:
|
||||||||||||||||||||||||||||||||
Marketing and data services
|
9.7 | % | 11.2 | % | 9.3 | % | 10.3 | % | 10.1 | % | 6.7 | % | ||||||||||||||||||||
IT Infrastructure management services
|
12.6 | % | 12.2 | % | 13.8 | % | 3.6 | % | 10.6 | % | 15.5 | % | ||||||||||||||||||||
Other services
|
-21.9 | % | -6.2 | % | -12.9 | % | -11.6 | % | -13.1 | % | 7.3 | % | ||||||||||||||||||||
Total
|
9.4 | % | 10.9 | % | 9.8 | % | 7.3 | % | 9.3 | % | 9.0 | % | ||||||||||||||||||||
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