OMAHA, Neb. -- Transaction Systems Architects, Inc. (Nasdaq:TSAI), parent company of ACI Worldwide, reported net income of $4.1 million or 11 cents a share on revenue of $69.3 million in the second quarter of fiscal 2003 ended March 31, down from net income of $6.7 million or 19 cents a share on revenue of $71.2 million in the year earlier quarter.
According to a news release, earnings in the latest quarter included software license fees of $38.2 million, maintenance fees of $19.5 million and services of $11.6 million, with recurring revenue of $42.7 million and non-recurring revenue of $26.6 million.
In January of 2003, the company restated its earnings back to 1998, after evaluating its longstanding practice of booking revenue from software licensing when agreements were made, even though the fees were collected in installments over several years.
With the restatement, the company reported lower revenues for 1999, 2000 and 2001. (See related story ACI parent wants to put 'trying time' behind it with restated earnings)
"In this difficult environment, we were able to hold our own," said Gregory Derkacht, president and chief executive, in the release, noting that the company "experienced weak demand across all geographic channels."
Derkacht said the company will continue to control its expenses and focus on growth initiatives such as BASE24-es multi-platform software. (See related story ACI intros multi-platform version of BASE24 at RDS)
