ACI Worldwide Inc. reported Thursday that it slipped into the red in the second quarter and its revenue fell sharply, largely because the payment processor landed several major deals in the comparison quarter a year earlier after rolling out new services.
The New York company reported revenue of $87.2 million, down 22% from a year earlier. It posted a net loss of $3.2 million, compared with income of $1.3 million.
ACI said that its revenue a year earlier was driven upward by the initial licensing fees paid by customers to sign up for payments services it introduced in Europe and the Middle East that totalled about $15 million.
The company said it has a pipeline of work, with a 60-month backlog valued at $1.48 billion, up from $1.44 billion a year earlier.
Heartland affirmed its full-year guidance, with revenue expected to be $450 million to $460 million and income of $35 million to $40 million.
"The business is where we expected it to be at this point in 2009, and we are quite excited with the payments opportunities ahead of us," especially in Europe and the Middle East, Philip Heasley, ACI's chief executive, said in a press release.