Acxiom Corporation Announces $50 Million Stock Repurchase Program
For more information, contact:
Katharine Boyce
Acxiom Investor Relations
(501) 342-1321
investor.relations@acxiom.com
EACXM
LITTLE ROCK, Ark., August 30, 2011— Acxiom® Corporation (Nasdaq:
ACXM), a recognized leader in marketing services and technology, today
announced that the company’s Board of Directors has approved a stock
repurchase program. Under the program, Acxiom is authorized to
repurchase up to $50 million of its outstanding shares of common stock
from time to time over the next 12 months in open market or privately
negotiated transactions depending on prevailing market conditions and
other factors. The repurchase program may be suspended or discontinued
at any time.
Scott Howe, Acxiom’s chief executive officer and president, said, “At
the present time, the combination of current market valuations, our
cash balances and ongoing cash flow generation lead us to believe that
this share repurchase program is an appropriate use of cash, while also
providing us adequate flexibility for future initiatives. As we examine
and prioritize our opportunities to extend our existing assets and
relationships from traditional direct marketing to digital marketing,
there will likely be opportunities to increase investments in R&D
and examine potential tuck-in acquisitions. We will evaluate all such
opportunities according to expected return.”
About Acxiom
Acxiom is a recognized leader in marketing services and technology
that enable marketers to successfully manage audiences, personalize
consumer experiences and create profitable customer relationships. Our
superior industry-focused, consultative approach combines consumer data
and analytics, databases, data integration and consulting solutions for
personalized, multichannel marketing strategies. Acxiom leverages over
40 years of experience in data management to deliver high-performance,
highly secure, reliable information management services. Founded in
1969, Acxiom is headquartered in Little Rock, Arkansas, USA, and serves
clients around the world from locations in the United States, Europe,
Asia-Pacific and South America. For more information about Acxiom, visit
Acxiom.com.
Forward Looking Statements
This release may contain forward-looking statements including,
without limitation, statements concerning ongoing cash flow generation,
opportunities to invest in R&D and potential acquisitions. Such
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially. The
following are factors, among others, that could cause actual results to
differ materially from these forward-looking statements: the possibility
that certain contracts may not generate the anticipated revenue or
profitability or may not be closed within the anticipated time frames;
the possibility that significant customers may experience extreme,
severe economic difficulty or otherwise reduce the amount of business
they do with us; the possibility that we will not successfully complete
customer contract requirements on time or meet the service levels
specified in the contracts, which may result in contract penalties or
lost revenue; the possibility that data suppliers might withdraw data
from us, leading to our inability to provide certain products and
services to our clients, which could lead to decreases in our operating
results; the possibility that we may not be able to attract, retain or
motivate qualified technical, sales and leadership associates, or that
we may lose key associates; the possibility that we may be unable to
quickly and seamlessly integrate a new chief executive officer and chief
financial officer; the possibility that we will not be able to continue
to receive credit upon satisfactory terms and conditions; the
possibility that negative changes in economic conditions in general or
other conditions might lead to a reduction in demand for our products
and services; the possibility that there will be changes in consumer or
business information industries and markets that negatively impact the
company; the possibility that the historical seasonality of our business
may change; the possibility that we will not be able to achieve cost
reductions and avoid unanticipated costs; the possibility that the fair
value of certain of our assets may not be equal to the carrying value of
those assets now or in future time periods; the possibility that
changes in accounting pronouncements may occur and may impact these
forward-looking statements; the possibility that we may encounter
difficulties when entering new markets or industries; the possibility
that we could experience loss of data center capacity or interruption of
telecommunication links; and other risks and uncertainties, including
those detailed from time to time in our periodic reports filed with the
Securities and Exchange Commission, including our current reports on
Form 8-K, quarterly reports on Form 10-Q and annual reports on Form
10-K, particularly the discussion under the caption “Item 1A, RISK
FACTORS” in our Annual Report on Form 10-K for the year ended March 31,
2011, which was filed with the Securities and Exchange Commission on May
27, 2011.
With respect to the provision of products or services outside our
primary base of operations in the United States, all of the above
factors apply, along with the difficulty of doing business in numerous
sovereign jurisdictions due to differences in scale, competition,
culture, laws and regulations.
We undertake no obligation to update the information contained in this press release or any other forward-looking statement.
Acxiom is a registered trademark of Acxiom Corporation.