Payments specialist ACI Worldwide has reported a net loss of $9.82m for the third quarter of 2016, compared to a net income of $14.78m in the year ago period.
For the quarter ended 30 September 2016, total revenues were $216.9m, down 9% compared to $238.7m in the corresponding quarter of 2015.
The company in its earnings statement said net new bookings grew 9% compared to the year ago quarter, bolstered by SaaS-specific bookings that grew 24%.
Excluding the impact of foreign currency movements, the company’s 12-month backlog declined $2m to $850m and 60-month backlog grew $42m to $4bn during the quarter.
Adjusted EBITDA for the latest quarter was $35m, down from $46m in the prior year period, excluding CFS contribution and related costs.
Commenting on the performance, ACI Worldwide president and CEO Phil Heasley said: “ACI is seeing growing interest in our Universal Payments solution and significant momentum in our SaaS and platform delivery. With success booking net new customers, our new bookings in Q3 grew 9% and our SaaS-specific bookings grew 24%.
“With our renewal business, we believe our plan to bundle Universal Payments has the potential to double our large customer average contract size with compelling value to both customers and ACI. However, it has caused our renewal negotiations to take longer than they have in the past and is impacting our forecast. This is simply a timing issue and we are making the conscious decision to realize economic value to ACI and our long-term shareholders. Overall, I believe our positioning is as exciting as it ever has been.”