IT services company Acxiom Corp. (ACXM) Wednesday said its Chief Executive Officer and President John Meyer has resigned his positions, effective March 28. In addition, Christopher Wolf has reported his intention to resign for personal reasons from his position as Chief Financial Officer of the company in the second quarter of 2011.
Meanwhile, the company has appointed Jerry Gramaglia, a member of the Board, to serve as interim Chief Executive Officer while the Board conducts a search for a permanent replacement.
The company also announced that it expects to record a non-cash impairment charge in the fourth quarter in connection with a write-down of the carrying value of goodwill and other long-lived assets.
For the fourth quarter, the company estimates revenues to be in the range of $295 million to $299 million and for fiscal year 2011 $1.156 billion to $1.160 billion. Current market view is for revenues of $303.23 million and $1.16 billion for full year.
Loss per share attributable to Acxiom stockholders are estimated to be in the range of $1.03 to $0.49 for the fourth quarter and for fiscal year 2011, in the range of a loss of $0.49 to $0.05 profit.
Earnings per share attributable to Acxiom stockholders, excluding unusual items, are estimated to be in the range of $0.18 to $0.22 for the fourth quarter and $0.65 to $0.69 for 2011. Market expects earnings of $0.24 per share for the quarter and $0.72 for full year.
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