Acxiom Corp. (ACXM), a provider of customer and information management solutions, on Wednesday reported a net loss for the fourth quarter, along with a decline in revenues. The company also said it was restating financial statements for 2007, 2006, and prior years.
The Little Rock, Arkansas-based company reported loss from operations of $76.0 million in the just concluded period, compared to income from operations of $28.4 million in the fourth quarter last year. The results of the latest period include the impact of $107.2 million of restructuring and other items.
Acxiom reported loss per share of $0.76, compared to earnings per share of $0.07 in the fourth quarter of fiscal 2008. On average, five analysts polled by First Call/Thomson Financial expected earnings of $0.16 per share.
Fourth quarter revenue declined to $349.8 million from $356.4 million reported in the previous year period. Analysts expected revenues of $349.20 million.
For full year, the company reported loss per share of $0.10, compared to earnings per share of $0.80 in fiscal 2007. Full year revenues slipped to $1.384 billion from $1.391 billion. Wall Street estimated earnings of $0.62 per share on revenues of $1.39 billion.
Additionally, The company is restating its financial statements for 2007, 2006, and prior years to correct its accounting related to accrued service revenue. The impact of this restatement will reduce net income by $2.4 million in 2006 and $2.9 million in 2007.
ACXM closed Wednesday's regular trade at $12.33, up $0.13 or 1.07%, on 642,342 shares.
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