Acxiom Corp Profits Surge 46% (ACXM)

Little Rock, Arkansas-based Acxiom Corporation ACXM released financial results on Wednesday morning. Acxiom Corporation reported that its 3rd quarter net earnings surged 46% to $20.8 million, or 25 cents per share, up from $14.3 million, or 18 cents per share , a year earlier. Excluding special items, the company's earnings came in at 19 cents per share. Acxiom Corporation reported revenue of $299.11 million, up 5.4% from $283.81 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 22 cents per share, on revenue of $300.72 million. Chief executive officer and president John Meyer said, “We are pleased that Acxiom delivered another solid performance in the third quarter of fiscal 2011. This represents our third consecutive quarter of year-over-year revenue and operating income growth. This quarter's performance was driven by the continued execution against our strategy and was aided by the general improvement in client spending in our core markets.” Acxiom Corporation (ACXM) closed the previous trading day at $17.62 per share. Analysts covering the company's stock give it a consensus price target of $19.40 per share. Acxiom Corporation is a leader in marketing services and technology that enable marketers to successfully manage audiences personalize consumer experiences and create profitable customer relationships. The company's industry-focused, consultative approach combines consumer data and analytics, databases, data integration and consulting solutions for personalized, multichannel marketing strategies. Read more from Benzinga's Company news.