Key Developments For Fundtech Ltd
Fundtech Ltd (FNDT.O) (Nasdaq)
Fundtech Ltd. Issues Q4 2009 Guidance Above Analysts' Estimates
Fundtech Ltd. announced that for the fourth quarter of 2009, it expects revenue to be in the range of $31.5-$32.5 million, GAAP earnings per diluted share to be in the range of $0.10-$ 0.14 and expects non-GAAP earnings per diluted share (EPS), before all amortization expenses and stock-based compensation expenses, of between $0.17 and $0.21. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.16 on revenues of $31.05 million for the same period.
Fundtech Ltd. and Microsoft Corp. Introduce SEPA Integration Suite
Fundtech Ltd. and Microsoft Corp. announced the introduction of the SEPA Integration Suite, a new suite of SOA (service-oriented architecture) services that adds complete SEPA transaction processing to a bank's existing payments infrastructure with minimal disruption and risk.
Bank of America Merrill Lynch Chooses Fundtech Ltd.'s Global PAYplus-SP
Fundtech Ltd. announced that Bank of America Merrill Lynch has selected its new Global PAYplus-Services Platform (Global PAYplus-SP) as the foundation for its on-line treasury management banking platform. The transaction is not expected to have a material impact on Fundtech's operating results for the third quarter of 2009.
Fundtech Ltd. Expands Global CASHplus Into Europe With Two Client Wins
Fundtech Ltd. announced the availability of its Global CASHplus solution throughout the European market. Currently the product has 13 clients across the Asia-Pacific region, and has recently added two banking in Europe, one of them the National Bank of Greece.
Fundtech Ltd. Issues Q3 2009 Guidance In Line With Analysts' Estimates
Fundtech Ltd. announced that for third quarter of 2009, it expect revenues of between $29-$30 million, GAAP earnings per diluted share of between $0.02-$0.06 and non-GAAP earnings per diluted share, before all amortization expenses and stock-based compensation expenses, of between $0.10-$0.14. Fundtech estimates that quarterly financial income for the third quarter will be approximately zero and that tax expenses, excluding deferred taxes will be approximately $300,000. Fundtech's guidance for the third quarter of 2009 does not include the impact of deferred taxes and also does not include the impact of any future impairment of intangible assets, as these assets are periodically being evaluated by Fundtech's management under evolving accounting standards which are incapable of assessment in advance. According to Reuters Estimates, analysts were expecting the Company to report revenues of $30 million and EPS of $0.12 for the same period.
