ACIW ACI Worldwide Inc

Q2 2024 HIGHLIGHTS

• Revenue up 16% versus Q2 2023
• Net income of $31 million, up $38 million from Q2 2023
• Adjusted EBITDA up 62% versus Q2 2023
• Cash flow from operating activities of $55 million, up 215% versus Q2 2023
• Announced $400 million share repurchase authorization
• Repurchased 1.7 million shares for $57 million
• Raising guidance range for full-year 2024

ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, announced financial results today for the quarter ended June 30, 2024.

"We are pleased to report another quarter of strong growth in revenue and adjusted EBITDA, with both exceeding our financial guidance. Year-to-date, our revenue is up 12%, adjusted EBITDA is up 71%, cash flow from operations is up over 200%, and we are again raising our full year financial guidance," said Thomas Warsop, president and CEO of ACI Worldwide. “I’m encouraged by the progress the team is making against ACI’s strategy. We are focused on execution, including driving our key strategic initiatives and investing in the business to position the company for high-quality, profitable long-term growth.”

FINANCIAL SUMMARY

In Q2 2024, revenue was $373 million, up 16% from Q2 2023. Recurring revenue of $284 million grew 9% and represented 76% of total revenue in the quarter. Net income was $31 million, up from a net loss of $7 million in Q2 2023. Adjusted EBITDA in Q2 2024 was $93 million, up 62% from Q2 2023. Cash flow from operating activities in Q2 2024 was $55 million, up 215% from Q2 2023.

• Bank segment revenue increased 22% in Q2 2024 and Bank segment adjusted EBITDA increased 53% versus Q2 2023.

• Merchant segment revenue increased 4% in Q2 2024 and Merchant segment adjusted EBITDA increased 55% versus Q2 2023.

• Biller segment revenue increased 13% in Q2 2024 and Biller segment adjusted EBITDA increased 20% versus Q2 2023.

ACI ended Q2 2024 with $157 million in cash on hand and a debt balance of $1 billion, which represents a net debt leverage ratio of 1.9x. During the quarter the Board of Directors authorized the repurchase of $400 million in shares of the company’s common stock, and the company repurchased 1.7 million shares for approximately $57 million in capital in Q2 2024. At the end of the quarter, the company had approximately $380 million remaining available on the share repurchase authorization.

RAISING 2024 GUIDANCE RANGE

For the full year of 2024, we are raising our guidance for both revenue and adjusted EBITDA. We now expect revenue to be in the range of $1.557 billion to $1.591 billion, up from the range of $1.547 billion to $1.581 billion. We now expect adjusted EBITDA to be in the range of $423 million to $438 million, up from the range of $418 million to $433 million. For Q3 2024, we expect revenue to be between $400 million and $410 million and adjusted EBITDA of $110 million to $120 million.

CONFERENCE CALL TO DISCUSS FINANCIAL RESULTS

Today, management will host a conference call at 8:30 a.m. ET to discuss these results. Interested persons may access a real-time audio broadcast of the teleconference at http://investor.aciworldwide.com/ or use the following number for dial-in participation: toll-free 1 (888) 660-6377 and conference code 3153574.

About ACI Worldwide

ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.

© Copyright ACI Worldwide, Inc. 2024.

ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay 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.

To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude significant transaction-related expenses, as well as other significant non-cash expenses such as depreciation, amortization, and stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. The presentation of these non-GAAP financial measures should be considered in addition to our GAAP results and are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management generally compensates for limitations in the use of non-GAAP financial measures by relying on comparable GAAP financial measures and providing investors with a reconciliation of non-GAAP financial measures only in addition to and in conjunction with results presented in accordance with GAAP.

We believe that these non-GAAP financial measures reflect an additional way to view aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. Certain non-GAAP measures include:

• Adjusted EBITDA: net income (loss) plus income tax expense (benefit), net interest income (expense), net other income (expense), depreciation, amortization and stock-based compensation, as well as significant transaction-related expenses. Adjusted EBITDA should be considered in addition to, rather than as a substitute for, net income (loss).

• Net Adjusted EBITDA Margin: Adjusted EBITDA divided by revenue net of pass-through interchange revenue. Net Adjusted EBITDA Margin should be considered in addition to, rather than as a substitute for, net income (loss).

• Diluted EPS adjusted for non-cash and significant transaction related items: diluted EPS plus tax effected significant transaction related items, amortization of acquired intangibles and software, and non-cash stock-based compensation. Diluted EPS adjusted for non-cash and significant transaction related items should be considered in addition to, rather than as a substitute for, diluted EPS.

• Recurring Revenue: revenue from software as a service and platform as a service fees and maintenance fees. Recurring revenue should be considered in addition to, rather than as a substitute for, total revenue.

• ARR: New annual recurring revenue expected to be generated from new accounts, new applications, and add-on sales bookings contracts signed in the period.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. Generally, forward-looking statements do not relate strictly to historical or current facts and may include words or phrases such as “believes,” “will,” “expects,” “anticipates,” “intends,” 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: (i) our encouragement by the progress the team is making against ACI’s strategy, our focus on execution, including driving our key strategic initiatives and investing in the business to position the company for high-quality, profitable long term growth, and (ii) statements regarding Q3 2024 and full year 2024 revenue and adjusted EBITDA 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, increased competition, business interruptions or failure of our information technology and communication systems, security breaches or viruses, our ability to attract and retain senior management personnel and skilled technical employees, future acquisitions, strategic partnerships and investments, divestitures and other restructuring activities, implementation and success of our strategy, impact if we convert some or all on-premise licenses from fixed-term to subscription model, anti-takeover provisions, exposure to credit or operating risks arising from certain payment funding methods, customer reluctance to switch to a new vendor, our ability to adequately defend our intellectual property, litigation, consent orders and other compliance agreements, our offshore software development activities, risks from operating internationally, including fluctuations in currency exchange rates, events in eastern Europe and the Middle East, adverse changes in the global economy, compliance of our products with applicable legislation, governmental regulations and industry standards, the complexity of our products and services and the risk that they may contain hidden defects, complex regulations applicable to our payments business, our compliance with privacy and cybersecurity regulations, exposure to unknown tax liabilities, changes in tax laws and regulations, consolidations and failures in the financial services industry, volatility in our stock price, demand for our 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, impairment of our goodwill or intangible assets, the accuracy of management’s backlog estimates, 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, restrictions and other financial covenants in our debt agreements, our existing levels of debt, events outside of our control including natural disasters, wars, and outbreaks of disease, and revenues or revenue mix. 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.

 

ACI WORLDWIDE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited and in thousands)

 

 

June 30, 2024

 

December 31, 2023

ASSETS

 

 

 

Current assets

 

 

 

Cash and cash equivalents

$

156,983

 

$

164,239

Receivables, net of allowances

 

369,171

 

 

452,337

Settlement assets

 

792,745

 

 

723,039

Prepaid expenses

 

30,485

 

 

31,479

Other current assets

 

31,826

 

 

35,551

Total current assets

 

1,381,210

 

 

1,406,645

Noncurrent assets

 

 

 

Accrued receivables, net

 

290,348

 

 

313,983

Property and equipment, net

 

34,943

 

 

37,856

Operating lease right-of-use assets

 

31,119

 

 

34,338

Software, net

 

100,200

 

 

108,418

Goodwill

 

1,226,026

 

 

1,226,026

Intangible assets, net

 

178,601

 

 

195,646

Deferred income taxes, net

 

61,230

 

 

58,499

Other noncurrent assets

 

60,995

 

 

63,328

TOTAL ASSETS

$

3,364,672

 

$

3,444,739

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities

 

 

 

Accounts payable

$

48,798

 

$

45,964

Settlement liabilities

 

792,166

 

 

721,164

Employee compensation

 

33,446

 

 

53,892

Current portion of long-term debt

 

34,892

 

 

74,405

Deferred revenue

 

72,659

 

 

59,580

Other current liabilities

 

62,160

 

 

82,244

Total current liabilities

 

1,044,121

 

 

1,037,249

Noncurrent liabilities

 

 

 

Deferred revenue

 

19,292

 

 

24,780

Long-term debt

 

973,121

 

 

963,599

Deferred income taxes, net

 

41,052

 

 

40,735

Operating lease liabilities

 

25,237

 

 

29,074

Other noncurrent liabilities

 

25,093

 

 

25,005

Total liabilities

 

2,127,916

 

 

2,120,442

Commitments and contingencies

 

 

 

Stockholders’ equity

 

 

 

Preferred stock

 

—

 

 

—

Common stock

 

702

 

 

702

Additional paid-in capital

 

718,559

 

 

712,994

Retained earnings

 

1,418,103

 

 

1,394,967

Treasury stock

 

(786,526)

 

 

(674,896)

Accumulated other comprehensive loss

 

(114,082)

 

 

(109,470)

Total stockholders’ equity

 

1,236,756

 

 

1,324,297

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

3,364,672

 

$

3,444,739

 

ACI WORLDWIDE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited and in thousands, except per share amounts)

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

Revenues

 

 

 

 

 

 

 

Software as a service and platform as a service

$

235,399

 

$

209,676

 

$

451,131

 

$

414,606

License

 

65,582

 

 

44,671

 

 

95,555

 

 

63,002

Maintenance

 

48,733

 

 

51,391

 

 

96,487

 

 

101,494

Services

 

23,765

 

 

17,587

 

 

46,325

 

 

33,899

Total revenues

 

373,479

 

 

323,325

 

 

689,498

 

 

613,001

Operating expenses

 

 

 

 

 

 

 

Cost of revenue (1)

 

203,238

 

 

181,343

 

 

394,345

 

 

359,897

Research and development

 

35,410

 

 

35,265

 

 

70,403

 

 

72,383

Selling and marketing

 

28,551

 

 

33,289

 

 

55,301

 

 

68,724

General and administrative

 

24,993

 

 

31,472

 

 

50,993

 

 

62,854

Depreciation and amortization

 

27,586

 

 

31,436

 

 

55,195

 

 

62,975

Total operating expenses

 

319,778

 

 

312,805

 

 

626,237

 

 

626,833

Operating income (loss)

 

53,701

 

 

10,520

 

 

63,261

 

 

(13,832)

Other income (expense)

 

 

 

 

 

 

 

Interest expense

 

(18,471)

 

 

(19,909)

 

 

(37,481)

 

 

(38,801)

Interest income

 

3,953

 

 

3,458

 

 

7,962

 

 

6,963

Other, net

 

1,156

 

 

(4,092)

 

 

(869)

 

 

(7,487)

Total other income (expense)

 

(13,362)

 

 

(20,543)

 

 

(30,388)

 

 

(39,325)

Income (loss) before income taxes

 

40,339

 

 

(10,023)

 

 

32,873

 

 

(53,157)

Income tax expense (benefit)

 

9,452

 

 

(3,313)

 

 

9,737

 

 

(14,139)

Net income (loss)

$

30,887

 

$

(6,710)

 

$

23,136

 

$

(39,018)

Income (loss) per common share

 

 

 

 

 

 

 

Basic

$

0.29

 

$

(0.06)

 

$

0.22

 

$

(0.36)

Diluted

$

0.29

 

$

(0.06)

 

$

0.22

 

$

(0.36)

Weighted average common shares outstanding

 

 

 

 

 

 

 

Basic

 

105,395

 

 

108,455

 

 

106,097

 

 

108,306

Diluted

 

106,166

 

 

108,455

 

 

106,815

 

 

108,306

(1) The cost of revenue excludes charges for depreciation and amortization.

ACI WORLDWIDE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited and in thousands)

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

Cash flows from operating activities:

 

 

 

 

 

 

 

Net income (loss)

$

30,887

 

$

(6,710)

 

$

23,136

 

$

(39,018)

Adjustments to reconcile net income (loss) to net cash flows from operating activities:

 

 

 

 

 

 

 

Depreciation

 

3,564

 

 

6,960

 

 

7,195

 

 

13,091

Amortization

 

24,022

 

 

24,476

 

 

48,000

 

 

49,884

Amortization of operating lease right-of-use assets

 

2,431

 

 

3,724

 

 

4,999

 

 

6,491

Amortization of deferred debt issuance costs

 

662

 

 

1,377

 

 

1,598

 

 

2,492

Deferred income taxes

 

510

 

 

(12,259)

 

 

1,516

 

 

(22,641)

Stock-based compensation expense

 

10,720

 

 

5,414

 

 

18,819

 

 

10,715

Other

 

(756)

 

 

601

 

 

(2,067)

 

 

311

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

Receivables

 

(27,671)

 

 

(7,104)

 

 

99,598

 

 

81,856

Accounts payable

 

5,297

 

 

(646)

 

 

4,849

 

 

(1,954)

Accrued employee compensation

 

6,569

 

 

10,965

 

 

(19,884)

 

 

(4,628)

Deferred revenue

 

(5,590)

 

 

2,498

 

 

8,317

 

 

12,700

Other current and noncurrent assets and liabilities

 

4,372

 

 

(11,856)

 

 

(17,818)

 

 

(51,791)

Net cash flows from operating activities

 

55,017

 

 

17,440

 

 

178,258

 

 

57,508

Cash flows from investing activities:

 

 

 

 

 

 

 

Purchases of property and equipment

 

(1,746)

 

 

(2,318)

 

 

(4,954)

 

 

(4,576)

Purchases of software and distribution rights

 

(4,442)

 

 

(8,540)

 

 

(19,024)

 

 

(15,021)

Net cash flows from investing activities

 

(6,188)

 

 

(10,858)

 

 

(23,978)

 

 

(19,597)

Cash flows from financing activities:

 

 

 

 

 

 

 

Proceeds from issuance of common stock

 

704

 

 

719

 

 

1,397

 

 

1,426

Proceeds from exercises of stock options

 

277

 

 

2,791

 

 

752

 

 

2,869

Repurchase of stock-based compensation awards for tax withholdings

 

(3,037)

 

 

(319)

 

 

(6,339)

 

 

(3,320)

Repurchases of common stock

 

(57,159)

 

 

—

 

 

(119,674)

 

 

—

Proceeds from revolving credit facility

 

—

 

 

5,000

 

 

164,000

 

 

55,000

Repayment of revolving credit facility

 

—

 

 

—

 

 

(152,000)

 

 

(45,000)

Proceeds from term portion of credit agreement

 

—

 

 

—

 

 

500,000

 

 

—

Repayment of term portion of credit agreement

 

(9,375)

 

 

(19,475)

 

 

(538,448)

 

 

(34,081)

Payments on or proceeds from other debt, net

 

(5,975)

 

 

(6,160)

 

 

(8,669)

 

 

(11,830)

Payments for debt issuance costs

 

—

 

 

(2,160)

 

 

(5,141)

 

 

(2,160)

Net increase (decrease) in settlement assets and liabilities

 

12,782

 

 

(21,253)

 

 

(6,151)

 

 

(24,087)

Net cash flows from financing activities

 

(61,783)

 

 

(40,857)

 

 

(170,273)

 

 

(61,183)

Effect of exchange rate fluctuations on cash

 

(1,024)

 

 

2,870

 

 

1,290

 

 

5,427

Net decrease in cash and cash equivalents

 

(13,978)

 

 

(31,405)

 

 

(14,703)

 

 

(17,845)

Cash and cash equivalents, including settlement deposits, beginning of period

 

238,096

 

 

228,232

 

 

238,821

 

 

214,672

Cash and cash equivalents, including settlement deposits, end of period

$

224,118

 

$

196,827

 

$

224,118

 

$

196,827

Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets

 

 

 

 

 

 

 

Cash and cash equivalents

$

156,983

 

$

132,391

 

$

156,983

 

$

132,391

Settlement deposits

 

67,135

 

 

64,436

 

 

67,135

 

 

64,436

Total cash and cash equivalents

$

224,118

 

$

196,827

 

$

224,118

 

$

196,827

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

Adjusted EBITDA (millions)

 

2024

 

 

2023

 

 

2024

 

 

2023

Net income (loss)

$

30.9

 

$

(6.7)

 

$

23.1

 

$

(39.0)

Plus:

 

 

 

 

 

 

 

Income tax expense (benefit)

 

9.4

 

 

(3.3)

 

 

9.7

 

 

(14.1)

Net interest expense

 

14.5

 

 

16.4

 

 

29.5

 

 

31.8

Net other (income) expense

 

(1.1)

 

 

4.1

 

 

0.9

 

 

7.5

Depreciation expense

 

3.6

 

 

7.0

 

 

7.2

 

 

13.1

Amortization expense

 

24.0

 

 

24.5

 

 

48.0

 

 

49.9

Non-cash stock-based compensation expense

 

10.7

 

 

5.4

 

 

18.8

 

 

10.7

Adjusted EBITDA before significant transaction-related expenses

$

92.0

 

$

47.4

 

$

137.2

 

$

59.9

Significant transaction-related expenses:

 

 

 

 

 

 

 

Cost reduction strategies

 

0.4

 

 

7.6

 

 

3.0

 

 

15.9

European datacenter migration

 

—

 

 

1.2

 

 

—

 

 

2.2

Other

 

0.4

 

 

1.2

 

 

0.7

 

 

4.3

Adjusted EBITDA

$

92.8

 

$

57.4

 

$

140.9

 

$

82.3

Revenue, net of interchange:

 

 

 

 

 

 

 

Revenue

$

373.5

 

$

323.3

 

$

689.5

 

$

613.0

Interchange

 

124.2

 

 

106.1

 

 

236.6

 

 

212.3

Revenue, net of interchange

$

249.3

 

$

217.2

 

$

452.9

 

$

400.7

 

 

 

 

 

 

 

 

Net Adjusted EBITDA Margin

 

37 %

 

 

26 %

 

 

31 %

 

 

21 %

 

Three Months Ended June 30,

 

Six Months Ended June 30,

Segment Information (millions)

 

2024

 

 

2023

 

 

2024

 

 

2023

Revenue

 

 

 

 

 

 

 

Banks

$

143.7

 

$

117.5

 

$

249.1

 

$

205.5

Merchants

 

38.0

 

 

36.5

 

 

73.7

 

 

71.3

Billers

 

191.8

 

 

169.3

 

 

366.7

 

 

336.2

Total

$

373.5

 

$

323.3

 

$

689.5

 

$

613.0

Recurring Revenue

 

 

 

 

 

 

 

Banks

$

56.7

 

$

57.4

 

$

111.5

 

$

113.0

Merchants

 

35.6

 

 

34.4

 

 

69.4

 

 

66.9

Billers

 

191.8

 

 

169.3

 

 

366.7

 

 

336.2

Total

$

284.1

 

$

261.1

 

$

547.6

 

$

516.1

Segment Adjusted EBITDA

 

 

 

 

 

 

 

Banks

$

79.2

 

$

51.6

 

$

120.9

 

$

76.3

Merchants

 

15.4

 

 

9.9

 

 

26.0

 

 

16.5

Billers

 

37.4

 

 

31.2

 

 

68.2

 

 

60.9

 

Three Months Ended June 30,

 

2024

 

2023

EPS Impact of Non-cash and Significant Transaction-related Items (millions)

EPS Impact

 

$ in Millions (Net of Tax)

 

EPS Impact

 

$ in Millions (Net of Tax)

GAAP net income (loss)

$

0.29

 

$

30.9

 

$

(0.06)

 

$

(6.7)

Adjusted for:

 

 

 

 

 

 

 

Significant transaction-related expenses

 

0.01

 

 

0.7

 

 

0.07

 

 

7.7

Amortization of acquisition-related intangibles

 

0.06

 

 

6.3

 

 

0.06

 

 

6.4

Amortization of acquisition-related software

 

0.03

 

 

3.3

 

 

0.04

 

 

3.8

Non-cash stock-based compensation

 

0.08

 

 

8.1

 

 

0.04

 

 

4.1

Total adjustments

$

0.18

 

$

18.4

 

$

0.21

 

$

22.0

Diluted EPS adjusted for non-cash and significant transaction-related items

$

0.47

 

$

49.3

 

$

0.15

 

$

15.3

 

Six Months Ended June 30,

 

2024

 

2023

EPS Impact of Non-cash and Significant Transaction-related Items (millions)

EPS Impact

 

$ in Millions (Net of Tax)

 

EPS Impact

 

$ in Millions (Net of Tax)

GAAP net income (loss)

$

0.22

 

$

23.1

 

$

(0.36)

 

$

(39.0)

Adjusted for:

 

 

 

 

 

 

 

Significant transaction-related expenses

 

0.03

 

 

2.9

 

 

0.16

 

 

17.1

Amortization of acquisition-related intangibles

 

0.12

 

 

12.7

 

 

0.12

 

 

12.8

Amortization of acquisition-related software

 

0.06

 

 

6.7

 

 

0.08

 

 

8.2

Non-cash stock-based compensation

 

0.13

 

 

14.3

 

 

0.07

 

 

8.1

Total adjustments

$

0.34

 

$

36.6

 

$

0.43

 

$

46.2

Diluted EPS adjusted for non-cash and significant transaction-related items

$

0.56

 

$

59.7

 

$

0.07

 

$

7.2

 

Three Months Ended June 30,

 

Six Months Ended June 30,

Recurring Revenue (millions)

 

2024

 

 

2023

 

 

2024

 

 

2023

SaaS and PaaS fees

$

235.4

 

$

209.7

 

$

451.1

 

$

414.6

Maintenance fees

 

48.7

 

 

51.4

 

 

96.5

 

 

101.5

Recurring Revenue

$

284.1

 

$

261.1

 

$

547.6

 

$

516.1

New Bookings (millions)1

Three Months Ended June 30,

 

TTM Ended June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

Annual recurring revenue (ARR) bookings

$

13.1

 

$

12.7

 

$

68.8

 

$

90.7

License and services bookings

 

80.7

 

 

55.5

 

 

268.5

 

 

206.5

 

1 Amounts for the TTM ended June 30, 2023 are adjusted for the divestiture of Corporate Online Banking in September 2022

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240801719627/en/

Investor Relations John Kraft SVP, Head of Strategy and Finance 239-403-4627 / john.kraft@aciworldwide.com