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Quotes & Info
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| ACXM > SEC Filings for ACXM > Form 8-K on 30-Jul-2008 | All Recent SEC Filings |
30-Jul-2008
Results of Operations and Financial Condition, Financial Statements and Exhibits
On July 30, 2008, Acxiom Corporation (the "Company") issued a press release announcing the results of its financial performance for the first quarter of fiscal year 2009. The Company will hold a conference call at 4:30 p.m. CDT today to discuss this information further. Interested parties are invited to listen to the call, which will be broadcast via the Internet at www.acxiom.com. The press release is furnished herewith as Exhibit 99.1 and incorporated by reference herein.
The Company's press release and other communications from time to time include certain non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance, financial position or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP in the Company's financial statements.
The attached press release utilizes a non-GAAP measure of free cash flow available to equity. Free cash flow available to equity is defined as operating cash flow less cash used by investing activities (excluding the impact of cash paid in acquisitions), less required payments of debt. The Company's management believes that this measure of free cash flow available to equity is superior to the previously reported free cash flow, since it represents the amount of money available for the Company's discretionary spending after funding all required obligations including scheduled debt payments, and it therefore provides a useful measure of liquidity for assessing the amount of cash available for general corporate and strategic purposes. Free cash flow available to equity is reconciled to operating cash flow, the nearest comparable GAAP measure, in a schedule to the press release.
The attached press release also includes a measure of diluted earnings per share for the quarters ended June 30, 2008 and 2007 on a non-GAAP basis by excluding the earnings-per-share impact of unusual items. Management believes this is a meaningful measure since unusual items are not relevant to the Company's operations in future periods. The non-GAAP measures of diluted earnings per share are reconciled to GAAP diluted earnings per share within the press release, by disclosing the unusual items which have been excluded for each quarterly period.
The non-GAAP financial measures used by the Company in the attached press release may not be comparable to similarly titled measures used by other companies and should not be considered in isolation or as a substitute for measures of performance or liquidity prepared in accordance with GAAP.
(c) Exhibits
The following exhibits are furnished herewith:
Exhibit
Number Description
99.1 Press Release of the Company dated July 30, 2008 announcing first
quarter earnings for fiscal year 2009.
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