ACI Worldwide posts $4.7M net loss in 2Q
ACI Worldwide Inc., which makes software for electronic payments, reported Thursday that its second-quarter net income swung to a loss, reflecting expenses for a key acquisition.
The company lost $4.7 million, or 12 cents per share, in the April-June quarter, compared with net income of $9.8 million, or 29 cents per share, in the same quarter last year.
ACI logged $7.6 million in expenses in the quarter related to its acquisition of another payments software provider, S1 Corp. ACI paid about $540 million in cash and stock for S1 in a deal completed in February.
ACI's second-quarter revenue rose 32 percent to $149.8 million from $113.4 million a year earlier. The company said its acquisition of S1 contributed $43.1 million to revenue in the quarter.
The company also offered guidance for 2012 revenue of $683 million to $693 million, down from a previous forecast of $696 million to $706 million.
ACI shares fell $2.75, or 6.3 percent, to close at $40.68. The stock has traded between $24.23 and $46.90 in the past 52 weeks.