Acxiom?s Income Tanks After Takeover Failure

Consumer information provider Acxiom Corp. (NASDAQ: ACXM) reported yesterday fiscal second quarter net earnings of $10.5 million, a decline of nearly 52 percent from $21.7 million in the same period a year ago. Revenues were $351.0 million, up slightly from $348.3 million.

Charles D. Morgan, chairman, said in a statement the company had instituted a cost reduction program in mid-September.

Acxiom reported expenses of $14.8 million in the quarter due to the failed takeover by two major investors in the company. The Little Rock, Ark.-based firm is scheduled to receive a $65 million merger termination fee in its fiscal third quarter this year.

The Information Products division, which offers fraud and risk management products, saw its revenues rise to $108.2 million from $104.4 million. The Services Division had revenues of $190.7 million versus $182.6 million. And the Infrastructure Management division reported revenues of $112.9 million, down from $119.3 million.