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Acxiom To Realign Into Two Units; To Explore Options For Marketing Solutions

Acxiom (ACXM) announced plans to realign its portfolio into two distinct business units: LiveRamp, the identity cloud, and Acxiom Marketing Solutions, the provider of data solutions for powering exceptional customer experiences. Acxiom expects to report its results under the realigned business units in the first quarter of fiscal 2019.

Acxiom also announced that it intends to actively explore options to further strengthen Acxiom Marketing Solutions and deliver greater value to its clients. These options may include a strategic partnership, acquisition, tax-free merger, joint venture, tax-free spin-off, sale or other potential strategic combinations.

Third-quarter Non-GAAP earnings per share were $0.31 compared to $0.24 a year ago. Current period results included $0.04 non-GAAP tax benefit associated with the recent tax reform legislation. Total revenue was $235 million, up 5% compared to the third quarter of last year.

For fiscal 2018, Acxiom expects non-GAAP earnings per share of between $0.85 and $0.89. Included in this guidance is an assumed tax reform benefit of between $0.04 and $0.05. The guidance is unchanged on a comparable basis. For fiscal 2018, Acxiom now expects to report revenue of between $910 million and $915 million, an increase of approximately 6% year-over-year after adjusting for the Acxiom Impact divestiture. This is reduced from previous guidance of between $920 million and $930 million primarily as a result of lower expected revenue from Audience Solutions.

by RTT Staff Writer

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