Financial software provider ACI Worldwide said Thursday it posted smaller losses on reduced revenue during the first quarter of 2010.
For the period ending March 31, ACI recorded a net loss of $2.1 million, or 6 cents a share, compared with a net loss of $4.1 million, or 12 cents a share, during the period last year.
Chief Executive Officer Philip Heasley said the company maintains its full-year guidance of full-year operating income of $48 million to $50 million.
The improved figures were a reflection of higher sales, which were $81.1 million, up $20.3 million over the previous year and an increase in the level of integration among products, Heasley said.
Revenue for the quarter was $87.7 million, down $500,000 from last year.
ACI stock closed Thursday down 98 cents at $19.32. Over the past 52 weeks the stock has ranged from $13.03 to $21.81.
Contact the writer: 444-1414, ross.boettcher@owh.com
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