First Quarter Conference Call Scheduled for May
7, 2020 at 8:30 am EDT
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
electronic payment software and solutions, today announced
preliminary unaudited financial results for the quarter ended March
31, 2020.
Based on preliminary information available at this time, for the
quarter ended March 31, 2020, we currently expect revenue to be in
excess of $290 million, which is in the range of our guidance of
between $285 million and $295 million.
“I am pleased to announce preliminary Q1 results with revenue in
the upper half of our guidance range. While COVID-19 presents
challenges and uncertainty, digital payments are more critical than
ever, and we are fortunate to have a resilient business model with
a large contractual backlog, substantial recurring revenue, a very
stable customer base, a strong presence in eCommerce payments and
ample liquidity,” said Odilon Almeida, President and CEO of ACI.
“Our immediate focus is ensuring our employees are safe and able to
work remotely to support our customers, while we work to maximize
profitability and advance our pipeline of deals. Despite any
near-term headwinds, I am confident in ACI’s ability to serve our
customers and the opportunity to create significant shareholder
value through growth acceleration in the medium and long run. I
look forward to addressing the investment community and providing
further details on our first quarter call.”
2020 Guidance
While a significant portion of our revenues are recurring, the
duration and severity of the outbreak of COVID-19 is expected to
impact our financial outlook for the full year 2020 and therefore
we are suspending full year guidance. We have taken actions and
continue to evaluate additional options to reduce expenses and
minimize the impact from COVID-19.
Conference Call
ACI will host a conference call to discuss first quarter 2020
results on May 7, 2020, at 8:30 am EDT. Interested persons may
access a real-time audio broadcast of the teleconference at
http://investor.aciworldwide.com/ or use the following numbers for
dial-in participation: US/Canada: (866) 914-7436,
International/Local: +1 (817) 385-9117. Please provide your name,
the conference name ACI Worldwide, Inc. and conference ID code
4462434. There will be a replay available for two weeks on (855)
859-2056 for US/Canada and +1 (404) 537-3406 for
International/Local dial-In participants.
Nature of Information
The Q1 2020 amounts in this press release are preliminary
unaudited estimates based on currently available information and
are subject to change as ACI completes its quarter-end accounting
procedures and its audited financial statements.
About ACI Worldwide
ACI Worldwide, the Universal Payments (UP) company, powers
electronic payments for more than 6,000 organizations around the
world. More than 1,000 of the largest financial institutions and
intermediaries as well as 300 of the leading global retailers rely
on ACI to execute $14 trillion each day in payments. In addition,
thousands of organizations utilize our electronic bill presentment
and payment services. Through our comprehensive suite of software
and SaaS-based solutions, we deliver real-time, any-to-any payments
capabilities and enable the industry’s most complete omni-channel
payments experience. To learn more about ACI, please visit
www.aciworldwide.com. You can also find us on Twitter
@ACI_Worldwide.
Forward-Looking Statements
This press release contains forward-looking statements based on
current expectations that involve a number of risks and
uncertainties, including our estimates for our results of
operations for 2020, as wells as preliminary estimates for our Q1
2020 results. Generally, forward-looking statements do not relate
strictly to historical or current facts and may include words or
phrases such as “expects” and words and phrases of similar impact.
The forward-looking statements are made pursuant to safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
Forward-looking statements in this press release include, but
are not limited to, statements regarding our (1) resilient business
model with a large contractual backlog, substantial recurring
revenue, a very stable customer base and ample liquidity, (2)
opportunity to accelerate organic growth and create significant
shareholder value (3) preliminary Q1 2020 financial results and
future financial guidance.
All of the foregoing forward-looking statements are expressly
qualified by the risk factors discussed in our filings with the
Securities and Exchange Commission. Such factors include, but are
not limited to, the dependence of our business on new or renewal
contracts and the inherent difficulty of predicting when new and
renewal contracts will be signed and their terms, increased
competition, the success of our Universal Payments strategy, demand
for our products, restrictions and other financial covenants in our
debt agreements, consolidations and failures in the financial
services industry, customer reluctance to switch to a new vendor,
the accuracy of management’s backlog estimates, the maturity of
certain products, failure to obtain renewals of customer contracts
or to obtain such renewals on favorable terms, delay or
cancellation of customer projects or inaccurate project completion
estimates, volatility and disruption of the capital and credit
markets and adverse changes in the global economy, our existing
levels of debt, impairment of our goodwill or intangible assets,
litigation, future acquisitions, strategic partnerships and
investments, integration of and achieving benefits from the
Speedpay acquisition, the complexity of our products and services
and the risk that they may contain hidden defects or be subjected
to security breaches or viruses, compliance of our products with
applicable legislation, governmental regulations and industry
standards, our ability to protect customer information from
security breaches or attacks, our compliance with privacy
regulations, our ability to adequately defend our intellectual
property, exposure to credit or operating risks arising from
certain payment funding methods, the cyclical nature of our revenue
and earnings and the accuracy of forecasts due to the concentration
of revenue-generating activity during the final weeks of each
quarter, business interruptions or failure of our information
technology and communication systems, our offshore software
development activities, risks from operating internationally,
including fluctuations in currency exchange rates, exposure to
unknown tax liabilities, volatility in our stock price, and
potential claims associated with our sale and transition of our CFS
assets and liabilities. For a detailed discussion of these risk
factors, parties that are relying on the forward-looking statements
should review our filings with the Securities and Exchange
Commission, including our most recently filed Annual Report on Form
10-K and our Quarterly Reports on Form 10-Q.
© Copyright ACI Worldwide, Inc. 2020
ACI, ACI Worldwide, the ACI logo, ACI Universal Payments, UP,
the UP logo and all ACI product/solution names are trademarks or
registered trademarks of ACI Worldwide, Inc., or one of its
subsidiaries, in the United States, other countries or both. Other
parties' trademarks referenced are the property of their respective
owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20200423005061/en/
John Kraft, Vice President, Investor Relations & Strategic
Analysis ACI Worldwide 239-403-4627 john.kraft@aciworldwide.com
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