Friday, April 29, 2011

ACI Worldwide posts Q2 revenue growth of 19%

New York, April 28, 2011 -- ACI Worldwide, Inc. (Nasdaq:ACIW), a leading international provider of payment systems, today announced financial results for the period ended March 31, 2011. We will hold a conference call on April 28, 2011, at 8:30 a.m. EDT to discuss this information. Interested persons may also access a real-time audio broadcast of the teleconference at .

"First quarter sales and backlog growth over prior-year quarter continues to demonstrate the appeal of ACI's strategy and product solutions suite as we increase the number of new payment applications owned by each of our existing customers. The company is executing better quarterly performance as underscored by our growth in operating income and improvement in operating EBITDA," said Chief Executive Officer Philip Heasley.



Sales bookings in the quarter totaled $122.9 million which was an increase of $41.8 million, or 52%, as compared to the March 2010 quarter. The stronger quarter was driven by two large renewals with add-on business in Canada as well as large renewals in the Netherlands, Ireland, Mexico, Indonesia, USA and South Africa. Notable changes in the mix of sales compared to last year's quarter included a rise of $17 million and $9 million in add-on and new application sales, respectively.


As of March 31, 2011, our estimated 60-month backlog was $1.613 billion, an increase of $47 million as compared to $1.566 billion at December 31, 2010. The growth was primarily attributable to the impact of foreign exchange translation as well as to the acquisition of ISD Corporation. As of March 31, 2011, our 12-month backlog was $391 million, an increase of $10 million as compared to $381 million for the quarter ended December 31, 2010.


Revenue was $104.5 million in the quarter ended March 31, 2011, an increase of $16.8 million, or 19%, over the prior-year quarter revenue. The growth in 2011 revenue over the prior-year quarter includes higher recurring revenue with an increase of $14.0 million, or 22%, over prior-year quarter resulting in $77.3 million in recurring revenue.

Operating Expenses

Operating expenses were $97.0 million in the March 2011 quarter compared to $88.6 million in the March 2010 quarter, a rise of $8.4 million, or 9%. Operating expense growth was led primarily by increased sales & marketing expenses and by expenses related to the acceleration of product development.

Operating Income

Operating income was $7.5 million in the March 2011 quarter, an increase of approximately $8.4 million as compared to an operating loss of $0.9 million in the March 2010 quarter.


We had $168.9 million in cash on hand as of March 31, 2011. As of March 31, 2011, we also had $75.0 million in unused borrowings under our credit facility.

Operating Free Cash Flow

Operating free cash flow ("OFCF") for the quarter was $12.3 million as compared to $8.2 million for the March 2010 quarter. The improvement in OFCF was driven by higher operating income as well as by lower cash taxes year-over-year.

Other Expense

Other expense for the quarter was $0.7 million, essentially flat compared to other expense of $0.6 million in the March 2010 quarter.


Income tax expense in the quarter was $5.2 million, or a 76% effective tax rate, compared to $0.6 million in the prior-year quarter. The increase in income tax expense is primarily the result of higher pre-tax income. In addition, the effective tax rate is negatively impacted by our inability to recognize income tax benefits on losses sustained in certain tax jurisdictions.

Net Income and Diluted Earnings Per Share

Net income for the quarter ended March 31, 2011 was $1.6 million, compared to net loss of $2.1 million during the same period last year, an improvement of $3.7 million.

Earnings per share for the quarter ended March 31, 2011 was $0.05 per diluted share compared to a loss of $0.06 per diluted share during the same period last year. The improvement was largely due to stronger operating income.

Weighted Average Shares Outstanding

Total diluted weighted average shares outstanding were 34.0 million for the quarter ended March 31, 2011 as compared to 33.7 million shares outstanding for the quarter ended March 31, 2010.

2011 Guidance

We do not presently anticipate changes to our annual guidance based upon what we are seeing in our business markets to date. Hence, guidance remains as indicated on February 15, 2011 with calendar year guidance as follows: Revenue to achieve a range of $440-450 million, Operating Income of $62-65 million and Operating EBITDA of $98-101 million.

About ACI Worldwide

ACI Worldwide powers electronic payments for more than 750 financial institutions, retailers and processors around the world. The company has a broad, integrated suite of electronic payment software in the market. More than 75 billion times each year, ACI's solutions process consumer payments. On an average day, ACI software manages more than US$12 trillion in wholesale payments. And for more than 150 organizations worldwide, ACI software helps to protect their customers from financial crime. To learn more about ACI and understand why we are trusted globally, please visit . You can also find us on or on Twitter @ACI_Worldwide.

cMoney Announces ATM to ATM Cash Transfer

HOUSTON--(BUSINESS WIRE)--cMoney, Inc. (OTCBB:CMEY), a Houston-based company at the forefront of global mobile phone-based payment and money transfer utilizing secure patent pending technologies for mobile phone users, retailers, and financial institutions, continues to innovate and strengthen the cMoney brand globally, with its latest technology enhancement to its existing solution, now allowing the movement of money between ATMs.
“I am pleased to confirm that all cMoney registration papers have been filed to bring our account current.”
Business development plans - cMoney continues its in-depth discussions with major players in the industry, currently under Non-Disclosure Agreements. cMoney is currently in negotiation with a major financial partner to accelerate the deployment of cMoney’s latest exciting technology.
Moving forward towards submission of S-1 – cMoney continues, with its previously announced partners, to prepare for the submission of its expedited Form S-1/A.
Nevada Secretary of State filings - Mr. Matthews, CEO of cMoney stated, “I am pleased to confirm that all cMoney registration papers have been filed to bring our account current.”
Ongoing research – our cMoney solution continues to receive positive feedback in our business development discussions, technology developments, shareholder feedback and from the market. Another enhancement slated for rollout in the cMoney solution will offer our customers a new virtual credit card geared specifically to their spending habits while enhancing their credit worthiness.
Technology development – The latest hype of other mobile payment carriers and credit card providers is the “arrival“ of NFC, (Near Field Communication). NFC suppliers claim their unprecedented technology will enable a chip, which will be embedded into future phones, will allow their customers to benefit from various mobile payment technologies still being installed. Our cMoney solution, once launched, will offer every one of our customers the opportunity to use the cMoney solution. With our cMoney solution, there is no need to purchase a new cell phone, no need to visit only NFC enabled stores (where in some locations purchases are limited to less than $100.00) and more importantly our cMoney solution performs all these compatible functions.
Further cMoney’s introduction of our revolutionary technology is state of the art, and will trump the NFC concept allowing our customers new financial freedom. The cMoney solution provides for credit card data never being revealed; implementing store discount, coupons, and loyalty cards; sending money from cell to cell instantly, bank to bank and ATM to ATM , securely, all at a very reasonable rate. cMoney will act as your own personal bank, if you do not have a banking relationship at present. Most importantly, merchants do not have to change or upgrade their equipment and online purchases over the internet can be made securely without disclosure of your personal data.
Mr. Matthews added, “In summary, cMoney continues to innovate, strengthen our brand and improve on the latest technology developments allowing us to rapidly move forward towards our initial stated goal of a successful Hard Launch.”
About cMoney, Inc.
cMoney, Inc., a Houston-based technology company that provides innovative secure mobile payment solutions for mobile phone users, retailers and financial institutions, has developed an innovative way to send money and pay for goods and services using a mobile phone and the text messaging system protected by patents. Scheduled to debut in 2011, the pioneering technology will create a “virtual wallet” that will eliminate exposure to identity and credit card theft for users. It can be used anywhere that cash, checks, ATMs or credit cards are accepted. For more information, visit

MasterCard Appoints Rima Qureshi to Board of Directors

“Her appointment further enhances the truly global perspective of our Board. I look forward to working with Rima and the entire Board of Directors as MasterCard continues to create payment solutions that benefit consumers, businesses and governments around the world.”
“Rima’s expertise in the mobile, telecommunications and information technology industries and her proven leadership capabilities will certainly benefit MasterCard,” said Richard Haythornthwaite, chairman of the MasterCard Board of Directors. “Her appointment further enhances the truly global perspective of our Board. I look forward to working with Rima and the entire Board of Directors as MasterCard continues to create payment solutions that benefit consumers, businesses and governments around the world.”
Ms. Qureshi, 46, is senior vice president and business unit head, CDMA Mobile Systems at Ericsson, the world's leading provider of technology and services to telecom operators. Prior to her appointment to this position in January 2010 as head of one of Ericsson’s four business units, she served as vice president, AT&T Improvement Program Manager for Ericsson North America from 2008 until 2009, and vice president, Service Sales for Ericsson Canada in 2008. She served as vice president and head of Product Area Customer Support for Ericsson AB in Stockholm from 2004 until 2008. Ms. Qureshi also has served as head of Ericsson Response since 2006. Ms. Qureshi has held positions of increasing seniority within Ericsson in Canada and Sweden since joining the company in 1993. Before joining Ericsson, Ms. Qureshi served as an IT consultant at DMR Group Inc.
About MasterCard Incorporated
As a leading global payments company, MasterCard Incorporated prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2010, $2.7 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 23 billion transactions each year and has the capacity to handle 160 million transactions per hour, with an average network response time of 130 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl®. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at


MasterCard Incorporated
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Chris Monteiro, +1-914-249-5826
Investor Relations:
Barbara Gasper, +1-914-249-4565

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