21 October 2017
visit www.atos.net

Temenos raises expectations for 2006

07 July 2006  |  5355 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  |  8245 views  |  0 comments
Temenos raises outlook after bullish Q1; seeks acquisitions

Temenos raises outlook after bullish Q1; seeks acquisitions

11 May 2006  |  6323 views  |  0 comments
SWX probes Temenos compliance slip

SWX probes Temenos compliance slip

20 April 2006  |  6709 views  |  0 comments
Temenos acquires TLC Risk Solutions

Temenos acquires TLC Risk Solutions

30 January 2006  |  8657 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.atos.netvisit www.innotribe.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
9904 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8935 views comments | 13 tweets | 10 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
8716 views comments | 17 tweets | 19 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8028 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7693 views comments | 10 tweets | 22 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job