Good day, ladies and gentlemen and welcome to the Acxiom Fourth Quarter Fiscal Year 2014 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this conference call is being recorded. I would now like to introduce your host for today’s conference, Lauren Russi, Director of Investor Relations. Ma’am you may begin.

Thanks, Sam. Good afternoon and welcome. Thank you for joining us to discuss our fiscal 2014 fourth quarter and full year results. With me today are Scott Howe, our CEO; and Warren Jenson, our CFO. Today’s press release and this call may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. For a detailed description of these risks, please read the Risk Factors sections of our public filings and the press release. Acxiom undertakes no obligation to release publicly any revisions to any of our forward-looking statements. A copy of our press release and financial schedules, including any reconciliation to non-GAAP financial measures, is available at acxiom.com. Also during the call today, we will be referring to the slide deck posted on our Web site. At this time, I will turn the call over to Scott Howe.

Thank you, Lauren. Good afternoon and thank you for joining us today. Fiscal 2014 was an incredible year for Acxiom and I would like to take this opportunity to highlight some of our key accomplishment as well as give you my perspective on where we are on our journey and where we will be going in the months and quarters ahead. I will also provide an update on AOS. And finally, discuss our acquisition of LiveRamp which we announced just this afternoon. Fiscal 2014 was truly a year of innovation. After investing heavily in R&D in fiscal 2013, we saw a number of innovations hit the market in fiscal 2014. We’ve introduced Audience Propensities early last year and it won a Stevie award for the most innovative product of the year. In September, Aboutthedata.com became the first direct marketing database to provide consumers with visibility and choice. And most notably, in September, we launched new Audience Operating System with the mission to change the world of marketing forever by creating an industry solution that enables one-to-one marketing and scale across all channels and devices. Fiscal 2014 was also a year of transformation. We set out to turn our core business into a leaner marketing and data services pure play and took important steps toward realizing that vision by separating our business unit so that each could operate on a fully standalone independent basis. In addition, in Q4 we also moved to repair a long time drain on our financials by deciding to exit the analog paper survey business in Europe. This business, a byproduct of legacy acquisitions throughout Europe, has been in steady decline for a decade due to the combination of increasing data collection costs and diminished demand. In addition, by removing shadow organizations eliminating layers of bureaucracy and…

Great, thanks Scott and good afternoon everyone. Before commenting on the fourth quarter let me say from the outset we know there’s a lot going on and many moving pieces. But this is what a transformation looks like. I will do several things today to try and help provide clarity and comparability. We hope this will make your understanding and analysis easier. Before jumping into the quarter and year I would like to again update you on some of our initiatives and provide additional details related to our acquisition of LiveRamp, first running a better business; as Scott mentioned we are a dramatically different company than we were a year ago. Over the last several quarters we’ve taken steps to streamline our management structure, transform the way we work and ultimately improve our operating leverage. I’m pleased to share that our delayering effort is substantially complete and as a result we expect our annualized expense run rate will be reduced by over 30 million. Obviously this year we will feel the sting of a drop in ITO’s profit contribution. However, we have chosen to use a portion of these savings to fund the expansion of AOS and LiveRamp. We think this is the right thing to do and our logical next step. Going forward, we’re all about further simplification and automation. On our last call I spoke about our company wide effort to eliminate duplication and redundancy, both in the way we operate internally and how we deliver our products and customer service. At the beginning of February, we kicked off the implementation of our new financial and HR systems and we expect to go live with these systems in the second half of 2015. We expect several benefits including better and more actionable data, automated and streamlined business processes…

Thank you, sir. (Operator Instructions) Our first question comes from Bill Warmington of Wells Fargo. Your line is now open.

Good afternoon everyone. So on the $50 million to $60 million in revenue guidance coming from AOS and LiveRamp, what is the split there between the two of them?

Hey Bill, I’ll answer the question, and then, just so everybody knows. As we move forward we don’t intend to report separately our results for AOS and for LiveRamp as we will combine them but I do want to answer your question today. I look about 50-50 split.

Got it.

Could be you know, plus or minus things could change, but roughly that’s it.

And then if you could talk a little about your history with LiveRamp, my understanding was that at one time you guys had worked with LiveRamp in the cookie syncing space and then that relationship has been discontinued and you’d competed against LiveRamp and kind of talk about how we’ve come to this point where you’re buying them.

Yes Bill, I’ll take that. I can’t comment on kind of a distant history I will tell you that in my time at Acxiom or and Hofmann was one of the first meetings that I had within the first few months of joining the company and they have been a very strong partner for us for the past couple of years and you know all of you guys have seen and heard Warren and my approach to acquisitions over the last couple of years. We have been very methodical and deliberate about our approach and we kicked the tires off many things but always with an eye towards two things. One - does this benefit our customers and two - how does this fit culturally. And because we have worked with LiveRamp over the last couple of years, we have worked really closely kind of in the trenches with their team and at the team levels we built trust and rapport. We’ve gotten to know their technology and capabilities very intimately. And we got to know their culture. Warren and I have had many conversations before this process around our view of kind of the need for a Switzerland, data utility, the power grid for the data world so to speak. So it felt like a really good complement, we knew a lot about them. Now when I think about AOS overlapped against LiveRamp it is really a perfect complement, so one of the challenges that we have in AOS, we have a lot of demand and its how do we get folks into the system. Well LiveRamp, they have on boarding, data on boarding, it’s really second to none. The second thing when we talked about AOS from the get go, we always talked about this three level stack and the final was the data ingestion layer, the operations layer but then importantly this API layer that would lead to a rich variety of applications. Our intent was never that Acxiom would build all those applications, but rather what we envisioned is that we would partner with everyone who did build those applications and provide them power to fuel their applications. Well LiveRamp brings us turnkey applications that scale and they have 80 incredible premium partners that we can immediately turn on, and so that’s incredible value, incremental value for not only our clients but anyone who wants to connect into the system. Our belief here - connections breed connections. We have more applications, then it’s more attractive to clients which makes it more attractive to publishers and there’s a real virtuous cycle. In a sense this whole acquisition was driven by our relationship with them coupled with all the things we learned with the successful launch of AOS. Once we saw AOS was getting legs this just made a ton of sense for us?

Got it, okay, one last question for you then on the ComScore partnership, how does that work and is it exclusive or is Neilson next.

You know, let me say, I don’t believe that we live in an exclusive world. If you look at Terry Kawaja’s LUMA scape map. It is overwhelming how many logos are on there, right. The pace of innovation always outpaces the pace of consolidation and so our belief is that we have created a new category, you know power grid, a utility that sits underneath all these different applications and so if there are 20,000 applications in the marketing space someday I would like to have 20,000 application partnerships. Each one of them will choose to use our services in their own unique way and that’s okay because each one of them has their own recipe for innovation, so all this to say is, ComScore is just getting started and I don’t think we’ve even necessarily announced to the world the full suite of the things that we intend to do together, but overtime yes, I would like to see Neilson and 20,000 other partners join the club.

Thank you, our next question comes from Brett Huff of Stephens; your line is now opened.

I have two questions; one is - on the new pro forma EPS Warren are you excluding the purchase amortization or is that included as an expense in the guidance.

In our non-GAAP guidance it would be excluded, so the way I think of it is, it’s excluding the typical items which you would normally see. Amortization of intangibles, stock based compensation, as well as our restructuring and other onetime expenses.

Okay, because I’m just trying to work through kind of compare it to where the street was for you guys.

Brett, maybe, just let me help clarify. The only thing that has changed in our guidance from the way we have done it historically, we are now excluding stock based compensation. Now the only complicating factor is, let’s say we’re also announcing a major acquisition with which comes the amortization of intangibles and much higher level of stock based compensation given the retention agreement, but leaving the acquisition aside the only thing that we have done to our forward guidance is to exclude stock based compensation which impacted FY 14 by about $0.11, so other than that fundamentally there’s no change but for the fact we made this acquisition.

Okay, and then the second question is just on the business AOS pipeline went from $45 to $60 million, I think the definitions are all still the same, the 12 month forward look, total contract value.

That is correct.

And then the one part of AOS that was confusing to me, is that it’s the dollar that ramped through the system, went from $20 million to 15. I am confused about how that could go down, although Scott you mentioned you expect a pretty big ramp in fiscal ’15 but I’m just confused about what would drive that.

Well I mean the biggest thing is seasonality and it’s exacerbated, I’ll tell you, I’m now kind of cranky about it, because what it tells me is that we haven’t done a good enough job of educating our clients, and so a lot of the -- a lot of the revenue that we’ve been generating, I want to say there were tens of thousands of Facebook campaigns that utilized Acxiom data, and so people self discovered it. What I’d like to do a lot more of is start educating both our clients in the broader set of the world about the capabilities here, because I think it’s still off a slow enough base but seasonality simply can’t be an excuse, we expect much more robust growth from that in the coming year.

Okay, those are my two questions, thank you.

Thank you and our final question comes from Dan Salmon of BMO Capital Markets, your line is now opened.

Just a quick question, some, obviously you’ve got a good strong partnership going with StarCom, you know some of the other agencies have indicated that the fact that there’s this service to the organization that exists at Acxiom around AOS has made it a bit of a challenge for them to look at it, because they see maybe some of your other businesses are competing with them. So to maybe turn that around the other way, would you ever, if you had a client who worked on a separate software platform or did not use AOS would you ever consider functionally creating a trading desk style of team that would help one of your advertiser clients in this case implement more of a programmatic strategy if they did not prefer AOS, it’s just a philosophical question, and then the second one Warren just to make sure I’m clear on this so it’s $310 million in cash for LiveRamp and then if I just look at the difference between the non-GAAP and GAAP dilution I think that’s probably a fair estimate of what the stock comp that’s built in for retainment, is that fair and correct?

Let me answer the first part and then we’ll have Scott talking about StarCom. That’s a fair estimate. The thing that’s tricky Dan as you know is the purchase accounting it’s not finalized so the splits are going to change once we go in and do the appraisals but the two principle items, largest is we’re estimating today the amortization of intangibles and then the second largest is the stock comp.

And then with respect to your first question Dan, yes. Yes with an exclamation point. Yes, yes, yes, yes - absolutely. And when we talk about neutrality, I have a ton of experience with this from my prior tenure at [Indiscernible], if you remember Atlas the app server served many Razorfish the sister divisions, competitors. And in a business like ours we live in a world where co-operation and connectivity are the new norm. And so as a result our sales force needs to change, and the days of cut throat competition needs to be replaced and is being replaced by dedicated sales resources that are solely and maniacally focused on their particular clients, and helping their particular clients succeed. One of our analysts and I can’t remember who it was a couple of quarters ago asked me if I envisioned a world where someday the folks that we have historically considered to be our competitors would someday be our clients. And if you recall at the time I said - absolutely and I think that day is coming through AOS and it’s not to power any one company but it’s to enable everyone in the industry to succeed. And so we’ll have to change some of our internal processes and culture which we’re doing to make that happen.

I’m showing no further questions, sir.

Wonderful, on behalf of Scott and our entire team here, thank you all very much for joining us and to our new associates at LiveRamp, we are really thrilled to have to be our partners, and great to have you with us. Thanks everyone.