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Payment system company ACI posts lower Q4 profits and revenues

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Financial software maker ACI Worldwide (NASDAQ:ACIW) said Tuesday fourth-quarter earnings and revenue slid amid fewer projecting moving out of backlog.

The company, founded in 1993 and with 2,134 employees, powers electronic payments for more than 800 financial institutions,
retailers and processors globally. On an average day, ACI software manages more than $12 trillion in wholesale payments, and for more than 160 organizations worldwide, ACI software helps to protect their customers from financial crime.

For the quarter ended December 31, revenues dipped four percent to $135 million compared to $141.2 million a year ago.

The company said that the sales decline stemmed from non-recurring implementation services revenues while fewer projects moved out of backlog.

Net income for the quarter was $23.9 million, or 70 cents per share, compared with a year-ago profit of $27.1 million, or 80 cents per share.

For the quarter, revenue for software license fees fell to $60.7 million, while maintenance fees grew to $39.1 million.

Services revenue slipped to 21.9 million, while sales for software hosting fees edged up slightly to $13.1 million. 

Sales bookings, meanwhile, slid two percent totalling $171.4 million, while its 60-month backlog was to $1.67 billion due to sales bookings signed last year.

This month the board approved to raise its stock buyback program by 52.1 million bringing the total authorization to $262.1 million, of which $75 million remains available.

Earlier this month, the company closed its acquisition of S1 Corp. for $569 million in a cash and stock deal.

For 2012, the company expects to achieve revenues in a range of $490 to $500 million on an organic basis.

Quick facts: ACI Worldwide Inc

Price: 25.47 USD

NASDAQ:ACIW
Market: NASDAQ
Market Cap: $2.96 billion
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