Boston, MA 08/05/2014 (wallstreetpr) – Acxiom Corporation (NASDAQ:ACXM) announced its first quarterly results on Monday. It reported the revenues down 6% as compared to the previous quarter. The restructuring process in Europe and IT infrastructure management led to the lower revenues in the quarter. IT infrastructure management revenue declined 20% as compared to the same quarter a year ago. The revenue from marketing and data services came at $187 million. It was also lower as compared to the same period last year. The gross media spend came at $28 million. It rose by 87% as compared to the previous quarter.
The key highlights
The operating income and earnings per share on GAAP basis disappointed the street. The onetime expenses linked with business separation and transformation led to lower earnings in the first quarter. The net loss came at $0.08 per share from continuing operations. It was lower than the loss of $0.17 per share a year ago.
Unusual items like expenses linked with restructuring and separation activities and non-cash compensation expenses impacted the earnings per share by $0.21. The earnings came lower due the acquisition of LiveRamp, Inc. Despite the fallback, Acxiom Corporation (NASDAQ:ACXM) has reiterated the full year revenue and EPS guidance.
Acquisition of LiveRamp
The acquisition of LiveRamp was the major attraction in the quarter. The integration of LiveRamp in the present business structure will bring in strong results in the coming quarters. With the new acquisition, Acxiom has become a leader for providing the first and third part data online with faster on boarding and better matching and connectivity. It will be soon introduced to an existing customer base.
Apart from the acquisition of LiveRamp, Acxiom Corporation (NASDAQ:ACXM) also sold its U.K. call center business. It was known as 2Touch. It will now reflect as discontinued operations in the current year. The revenues and expenses related to 2Touch will be presented on one line.
