Acxiom Corp. reported a strong fiscal 2003 despite a flat fourth quarter.
The information services firm posted revenue of $239 million, a 6% increase over the same period in the previous year. However, that was accompanied by a net loss of $23.7 million. The quarter and year ended March 31.
The loss was worse than expected because of larger-than-expected non-cash charges.
Revenue for the whole year totaled $958 million, an 11% hike over fiscal 2002. Net earnings hit $21.7 million, compared with a $30.6 million net loss during the period year.
CEO Charles Morgan said in a statement that fourth-quarter results were hurt by “the war in Iraq and the continued sluggish economy.”
On the good side the company signed several new contracts during the quarter, including ones with Wells Fargo, J.C. Penney and Federal Express.
The Little Rock, AK-based firm reported that new contracts will deliver $25 million in incremental annual revenue.
Network
