For the fourth quarter of fiscal 2004, revenue was comprised of software license fees of $36.2 million, maintenance fees of $21.7 million and services fees of $11.8 million. The Company's recurring revenue was $43.6 million, or 63 percent of total revenue, and non-recurring revenue was $26.1 million, or 37 percent of total revenue. Recurring revenue consisted of monthly license fees of $19.6 million, maintenance fees of $21.7 million and facilities management fees of $2.3 million.

Operating income for the quarter was $12.3 million, with an operating margin of 17.6 percent, compared to operating income of $11.9 million, with an operating margin of 16.5 percent, in the fourth quarter of fiscal 2003. Operating cash flow was $12.7 million compared to operating cash flow of $11.9 million in the fourth quarter of fiscal 2003, an increase of 6.7 percent. The cash balance as of September 30, 2004 was $169.6 million.

During the quarter, the Company added twenty-one new customers while maintaining a worldwide presence of 76 countries. ACI Worldwide, the Company's largest business unit, added ten new customers during the quarter. Solutions licensed included BASE24R, BASE24-es(tm), ACI Proactive Risk Manager(tm), WINPAY24(tm), and ACI e-Courier(tm). ACI Worldwide also licensed capacity upgrades to 19 customers and licensed new applications to 17 existing customers during the fourth quarter.

Insession Technologies, the Company's e-infrastructure business unit, added 11 new customers and licensed 11 new applications to existing customers during the quarter. IntraNet, the Company's corporate banking software provider, licensed five add-on modules and signed 30 service contracts with its existing customers during the quarter.

The Company completed the fourth quarter of fiscal 2004 with $229.6 million in backlog. Included in backlog are all software license fees, maintenance fees and services specified in executed contracts to the extent that the Company believes that recognition of the related revenue will occur within the next twelve months. Recurring backlog includes monthly license fees, maintenance fees and facilities management fees and amounted to $168.1 million. Non-recurring backlog includes other software license fees and services and amounted to $61.5 million.

For the fiscal year ended September 30, 2004, the Company's revenue was $292.8 million, compared to $277.3 million for fiscal 2003, an increase of 5.6 percent. Operating income in fiscal 2004 was $54.8 million, with an operating margin of 18.7 percent, compared to $35.3 million, with an operating margin of 12.7 percent, in fiscal 2003.

Net income for the year ended September 30, 2004 was $46.7 million, or $1.23 per diluted share, compared to $14.3 million, or $.40 per diluted share, for fiscal 2003, an increase of 226 percent and 208 percent, respectively. The net income results for fiscal 2004 include a net one-time tax benefit of $10.6 million, or $.28 per diluted share, in the third quarter. This net one-time tax benefit is attributed primarily to certain tax restructurings and associated tax elections related to the Company's MessagingDirect Ltd. subsidiaries.

"We are pleased with our fiscal 2004 results, as we have made significant progress during the year in a number of key areas," said Gregory D. Derkacht, President and CEO. "We will continue to invest in our newer initiatives. We look for these initiatives to provide additional market opportunities in fiscal 2005. In addition, we continue to consider external growth opportunities that will leverage our key strengths."

The Company's revenue estimate for fiscal 2005 is $279 million to $308 million and its earnings per diluted share estimate for fiscal 2005 is $.79 to $.94.