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NAPLES — Payment processor ACI Worldwide posted a first-quarter net loss due to higher interest expense and foreign-currency fluctuations, the company says.
ACI, which provides electronic payment and banking to 5,000 customers, says it lost $6 million on revenues of $221 million in the first quarter ending March 31. That compares with a net loss of $2 million on revenues of $162 million in the same quarter in 2013.
Revenues grew 37% in the first quarter compared with the same quarter one year ago was the result of an acquisition and business growth.
“ACI started 2014 strong with results that position us well to achieve our full year expectations,” says Phil Heasley, president and CEO, in a statement. “Net new bookings were particularly robust as we are clearly seeing interest in our universal payments-enabled solutions.”
Naples-based ACI provides electronic payments and banking for more than 5,000 financial institutions, retailers, billers and processors around the world. ACI software processes $13 trillion in payments and securities transactions for more than 250 of the leading global retailers and 21 of the world's 25 largest banks.
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