First Nine Months Results
Total revenue declined 6 percent to $458.4 million compared to $486.7 million for the first nine months of 2011. Of the decline, $16.6 million was from the loss of business at the large financial services customer and the remainder was primarily a result of legacy product unit volumes declining more rapidly than growth in core solutions sales. In the first nine months of 2012, core solutions grew 2 percent (4.9 percent excluding the loss of business at the large financial services customer). Legacy products declined 11 percent. At the end of the first nine months of 2012, Core solutions accounted for 43 percent of revenue, compared to 40 percent at the end of the third quarter last year. Legacy products correspondingly declined to 57 percent from 60 percent for the same periods.
- Places:
- Dayton, Ohio