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ACXM > SEC Filings for ACXM > Form 8-K on 28-Oct-2009All Recent SEC Filings

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Form 8-K for ACXIOM CORP


28-Oct-2009

Results of Operations and Financial Condition, Financial Statements and Exhibits


Item 2.02 Results of Operations and Financial Condition.

On October 28, 2009, Acxiom Corporation (the "Company") issued a press release announcing the results of its financial performance for the second quarter of fiscal year 2010. 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 measures of diluted earnings per share before excluded items for both the quarter and six months ended September 30, 2008. These measures are presented on a non-GAAP basis by excluding the earnings per share impact of unusual items. Management believes these are meaningful measures since the unusual items are not relevant for a comparison to the Company's operations in the current quarter and year-to-date periods. These non-GAAP measures are reconciled to the comparable GAAP earnings measure within the body of the press release.

The attached press release also includes a measure of revenue excluding pass-through revenue from an Information Products contract for the quarter and six months ended September 30, 2008. The contract has been modified such that pass-through revenue is no longer recognized for the contract. Management believes this is a meaningful measure for comparison to revenue for the current year since revenue for the current year does not include pass-through revenue. The non-GAAP measure of revenue is reconciled to GAAP revenue within the body of the press release.

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.



Item 9.01 Financial Statements and Exhibits

(c) Exhibits

The following exhibits are furnished herewith:

Exhibit
Number                          Description

 99.1     Press Release of the Company dated October 28, 2009
          announcing second quarter earnings for fiscal year 2010.


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