Naples, FL-based ACI Worldwide reported a huge surge year-on-year (YOY) in first quarter (1Q/16) net income. Net new sales bookings also soared in 1Q/16 driven by omni-channel merchant retailer and eCommerce offerings.
ACI reported a 2.9% YOY decline in gross revenue for 1Q/16 to $226.1 million, compared to $308.6 million for 4Q/15 and $232.8 million for 1Q/15.
Net income for the first quarter soared 183% YOY from a $162,000 loss for 1Q/15 to $89.5 million for 1Q/16. ACI reported net income of $43.8 million for 4Q/15.
The value of sales bookings rose 9.5% YOY to $230.2 million for the first quarter, compared to $443.5 million for the prior quarter, and $210.2 million for the year ago quarter.
Total sales bookings grew 15% YOY in 1Q/16, while new sales bookings, net of term extensions (SNET), increased 47% YOY.
During the quarter, ACI completed the sale of its CFS assets to Fiserv. The sale generated $200 million of cash proceeds.
ACI also noted they had the first go-live of its UP BASE24-eps system on Linux in 1Q/16.
ACI projects second quarter revenue to fall between $215 million and $225 million.
1Q/15: $232.8 million
2Q/15: $242.2 million
3Q/15: $238.7 million
4Q/15: $308.6 million
1Q/16: $226.1 million
1Q/15: ($0.16 million)
2Q/15: $27.1 million
3Q/15: $14.8 million
4Q/15: $43.8 million
1Q/16: $89.5 million
1Q/15: $210.2 million
2Q/15: $291.7 million
3Q/15: $294.3 million
4Q/15: $443.5 million
1Q/16: $230.2 million
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