Naples, FL-based ACI Worldwide reported third quarter revenue of $238.7 million, a 4.2% decline from 3Q/14. Net income for 3Q/14 of $14.78 million also declined by 6.1% from $15.73 million one-year ago.
Overall sales bookings for the third quarter (3Q/15), including term extensions, increased 17% year-on-year (YOY). New sales bookings, net of term extensions (SNET), increased 6% compared to the prior year quarter.
ACI ended the quarter with a 12-month backlog of $882 million and a 60-month backlog of $4.2 billion. After adjusting for foreign currency fluctuations, its 12-month backlog increased $6 million and its 60-month backlog grew $32 million from 2Q/15.
ACI ended the third quarter with $81 million in cash on hand and a debt balance of $784 million.
ACI TOTAL REVENUES
3Q/14: $249.6 million
4Q/14: $290.2 million
1Q/15: $232.8 million
2Q/15: $242.2 million
3Q/15: $238.7 million
ACI says the acquisition of PAY.ON will not be material to its full year 2015 revenue forecast. ACI continues to expect to generate in the range of $1.04 to $1.07 billion of non-GAAP revenue for the full year 2015. This range represents a 3-6% organic growth rate after adjusting
for foreign currency fluctuations.
However, ACI is updating its full year 2015 EBITDA forecast. Given a decision to accelerate certain investments, including those associated with our newly signed European data center and the acquisition of PAY.ON, ACI now expects adjusted EBITDA to be in the range of $265 to $270 million, down from our previous range of $280 to $290 million.
Lastly, ACI expects full year 2015 net new sales bookings to increase in the upper single digit range, which is unchanged from the prior forecast.
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