Fundtech Ltd. of Ramat-Gan, Israel, an electronic payment, settlement, and cash management company, said Monday that its first-quarter profit rose by half, to $400,000, or 3 cents a share, from a year earlier.
Revenue climbed 19%, to $23.2 million. Fundtech said it expects a second-quarter profit of 8 to 10 cents a share on revenue of $24.7 million to $25.2 million.
Fundtech said it was increasing its full-year guidance for revenue, to $99 million to $101 million, and for earnings, to 37 cents to 43 cents a share. In February it had said that it expected revenue of $96 million to $100 million and earnings of 35 to 42 cents.