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Acxiom Corporation (ACXM) saw its loss widen to $8.08 million, or $0.10 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $1.57 million, or $0.02 a share. On the other hand, adjusted net income for the quarter stood at $12.18 million, or $0.15 a share compared with $13.82 million or $0.18 a share, a year ago. Revenue during the quarter went up marginally by 0.09 percent to $224.87 million from $224.66 million in the previous year period. Gross margin for the quarter expanded 242 basis points over the previous year period to 47.39 percent. Operating margin for the quarter stood at negative 3.87 percent as compared to a negative 3.46 percent for the previous year period.
Operating loss for the quarter was $8.71 million, compared with an operating loss of $7.76 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $36.79 million compared with $37.66 million in the prior year period. At the same time, adjusted EBITDA margin contracted 40 basis points in the quarter to 16.36 percent from 16.76 percent in the last year period.
"Fiscal 2017 was a milestone year for Acxiom," said Acxiom chief executive officer Scott Howe. "Each of our businesses delivered revenue growth and margin improvement, and we made a number of strategic moves to accelerate our vision of powering a world where all marketing is relevant. We enter fiscal 2018 from a position of strength and industry leadership and remain committed to delivering even more value to our clients and shareholders."
Acxiom Corp projects revenue to be $945 million for financial year 2018. For financial year 2018, the company forecasts diluted earnings per share to be $0.09. For financial year 2018, the company forecasts diluted earnings per share to be $0.80 on adjusted basis.
Operating cash flow improves marginally
Acxiom Corporation has generated cash of $115.83 million from operating activities during the year, up 1.93 percent or $2.19 million, when compared with the last year. The company has spent $159.25 million cash to meet investing activities during the year as against cash outgo of $69.24 million in the last year.
Cash flow from financing activities was $25.78 million for the year as against cash outgo of $126.03 million in the last year period.
Cash and cash equivalents stood at $170.34 million as on Mar. 31, 2017, down 10.17 percent or $19.29 million from $189.63 million on Mar. 31, 2016.
Working capital declines
Acxiom Corporation has witnessed a decline in the working capital over the last year. It stood at $138.31 million as at Mar. 31, 2017, down 9.02 percent or $13.70 million from $152.01 million on Mar. 31, 2016. Current ratio was at 1.60 as on Mar. 31, 2017, down from 1.68 on Mar. 31, 2016.
Debt moves up
Acxiom Corporation has witnessed an increase in total debt over the last one year. It stood at $229.06 million as on Mar. 31, 2017, up 20.47 percent or $38.92 million from $190.14 million on Mar. 31, 2016. Total debt was 18.55 percent of total assets as on Mar. 31, 2017, compared with 16.54 percent on Mar. 31, 2016. Debt to equity ratio was at 0.31 as on Mar. 31, 2017, up from 0.27 as on Mar. 31, 2016.
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