Acxiom Increases Share Repurchase Authorization to $250 Million
November 18 2013 - 4:05PM
Business Wire
Acxiom® (Nasdaq: ACXM), an enterprise data, analytics and
software-as-a-service company, today announced that the company’s
Board of Directors has increased its share repurchase authorization
from $200 million to $250 million. Since inception of the program
in August 2011, the company has repurchased 12 million shares for
approximately $179 million, resulting in the repurchase of
approximately 14.6 percent of the company’s outstanding shares.
“Return of capital to our shareholders remains a priority for
our company,” said Acxiom CFO Warren Jenson. “We are pleased to
again increase our share repurchase authorization while at the same
time maintaining a strong balance sheet and investing for our
future with new, ground breaking technology.”
The company is authorized to repurchase shares 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.
About Acxiom
Acxiom is an enterprise data, analytics and
software-as-a-service company that uniquely fuses trust, experience
and scale to fuel data-driven results. For over 40 years, Acxiom
has been an innovator in harnessing the most important sources and
uses of data to strengthen connections between people, businesses
and their partners. Utilizing a channel and media neutral approach,
we leverage cutting-edge, data-oriented products and services to
maximize customer value. Every week, Acxiom powers more than a
trillion transactions that enable better living for people and
better results for our 7,000+ global clients. For more information
about Acxiom, visit Acxiom.com.
Forward-Looking Statements
This release and today’s conference call may contain
forward-looking statements including, without limitation,
statements regarding the company’s share repurchase program. 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 not be able to adequately adapt to rapidly
changing computing environments, technologies and marketing
practices; 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 unusual charges may be
incurred; 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; the possibility that new laws may be enacted which limit our
ability to provide services to our clients and/or which limit the
use of data; 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, 2013, which was filed with the Securities and Exchange
Commission on May 29, 2013.
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.
To automatically receive Acxiom Corporation financial news by
email, please visit www.acxiom.com and subscribe to email
alerts.
AcxiomInvestor Relations:Katharine Boyce,
501-342-1321investor.relations@acxiom.comEACXM
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