ACI Worldwide (ACIW) Sinks on Preliminary Earnings Report
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ACI Worldwide (Nasdaq: ACIW) today announced its preliminary results for the quarter ended September 30, 2007. The Company said it expects revenues to be about $84.7 million, versus the Wall Street consensus of $99.98 million and expects its 60-month backlog to be about $1.302 billion, compared to $1.226 billion in the same period of last year.
Shares of ACI have plummeted on the lower-than-expected revenues number and are now down by more than $4, or about 19%, to a new 52-week low at $17.34. Today's correction extends a year-long downtrend that has intensified over the last five months. ACI Worldwide stock is trading at its lowest level since going public in October of last year.
ACI Worldwide, Inc. engages in the development, marketing, installation, and support of software products and services to facilitate electronic payments worldwide.
Shares of ACI have plummeted on the lower-than-expected revenues number and are now down by more than $4, or about 19%, to a new 52-week low at $17.34. Today's correction extends a year-long downtrend that has intensified over the last five months. ACI Worldwide stock is trading at its lowest level since going public in October of last year.
ACI Worldwide, Inc. engages in the development, marketing, installation, and support of software products and services to facilitate electronic payments worldwide.
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