Carreker Corporation, the Dallas-based supplier of software systems to financial institutions, is warning investors to expect a fall in second quarter revenues as banking customers delayed orders for new IT systems.
Carreker says it expects revenue for the second quarter to fall below its prior guidance of $38 million by approximately 12 to 13 percent. Excluding acquisition-related expenses, the company expects to break even for the second quarter or post earnings per share of one cent.
"While our technology business, including the recent acquisition of Check Solutions, actually exceeded expectations and our Enterprise Solutions Group met expectations, revenue from two key engagements expected by our Revenue Enhancement Group were delayed. A significant client decision meeting on the first engagement has slipped three to four weeks into the third quarter and we received the contract for the second engagement the day following the quarter end," says Denny Carreker, chairman and chief executive officer.