Acxiom Corp. reported a $32 million net loss for fiscal 2002, and a $143 million revenue downturn.
But the loss appears due mostly to computer and equipment costs, and the company appeared to be picking up sales steam as the year ended.
Revenue for the year totaled $866 million, compared with $1 billion in 2001.
Fourth-quarter sales came in at $225 million, compared with $243 million during the same period last year. However, this exceeded the firm’s previous guidance and was bolstered by $30 million in new business wins during the quarter.
Net earnings totaled $13 million, compared with a $26 million loss during the same period last year.
Both the quarter and the year ended on March 31.
The firm paid salaries and benefits of $79 million during the quarter, compared with roughly $95 million last year. For the full year, it paid $325 million, compared with $363 million in 2001.
Company leader Charles Morgan said in a statement that “Fiscal 2002 was a difficult year for Acxiom, as well as many other businesses, due to the economic downturn and the events of Sept. 11. Acxiom reacted quickly to the difficult economy with pay cuts and cost reduction measures beginning in the March 2001 ended quarter.
Acxiom predicted revenue of $225 million for the first quarter of fiscal 2003, and full-year sales of roughly $970 million.
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