23 August 2017
Visit http://response.ncr.com

Temenos raises expectations for 2006

07 July 2006  |  5326 views  |  0 Temenos

Swiss core banking systems vendor Temenos has raised its earnings and revenue outlook for 2006 after exceeding licence revenue targets in the second quarter.

Temenos says during the second quarter it signed two large deals for its T24 and Corebanking platforms with tier one and tier two banks.

As a result the vendor is now raising its license revenues outlook for 2006 to $85-90m from $80-85m, which is up 41% compared to the prior year.

The company says it expects total 2006 revenues to be between $205m and $210m, up from its previous guidance of $200m. As a result, full year revenues are expected to be 23% higher than the prior year.

Temenos also expects its 2006 earnings growth in excess of 30% compared to 2005.

Andreas Andreades, chief executive of Temenos, says he expects business momentum into the second half of the year to continue to be strong.

"Our market is experiencing accelerating growth and it is time to capitalise on our strong competitive position. We now target organic revenue to grow at an accelerated rate for the next few years and complemented by a successful acquisition model," he says.

Earlier this year Temenos said it was seeking acquisitions to strengthen its existing core business with new products, a new client base or additional delivery and distribution capabilities.

In January the vendor added a Basel II compliant risk product to its portfolio by acquiring TLC Risk Solutions.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Temenos targets the front office

Temenos targets the front office

13 June 2006  |  8209 views  |  0 comments
Temenos raises outlook after bullish Q1; seeks acquisitions

Temenos raises outlook after bullish Q1; seeks acquisitions

11 May 2006  |  6283 views  |  0 comments
SWX probes Temenos compliance slip

SWX probes Temenos compliance slip

20 April 2006  |  6676 views  |  0 comments
Temenos acquires TLC Risk Solutions

Temenos acquires TLC Risk Solutions

30 January 2006  |  8620 views  |  0 comments

Related company news


Related company information

Temenos – The Banking Software Company

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comdownload the paper nowvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
20504 views comments | 43 tweets | 85 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13387 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11992 views comments | 22 tweets | 35 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11253 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
11120 views comments | 10 tweets | 8 linkedin

Featured job

Find your next job