But excluding charges, net income came in at $89.7m for Q4, or $0.88 per share, in line with analysts’ forecasts, according to Thomson Financial.
Revenue rose to $1.52bn from $1.38bn last year; Wall Street had been expecting $1.51bn on the top line. Of the 10% rise in sales, 7% came from organic growth, ACS said. Some 58% of revenue came from the commercial segment, which grew 6%, mostly through acquisitions, to $879m. Government business accounted for the rest, rising 16% to $641m.
Fourth-quarter bookings stood at an estimated $509m, 74% of which were from BPO and the remainder from ACS’ IT services segment. For the full fiscal year, EPS hit $3.12 on $5.77bn in revenue, and bookings came in at $2.8bn, ACS said.
The company reported after the closing bell, but shares dipped more than 2% to $49.79 in after-hours trading. Shares continue to lurk far below the $62.00-per-share buyout proposed by private equity firm Cerebus Capital Management and ACS founder and chairman David Deason in April. ACS had been holding out for a better offer from other bidders, and this month it announced it was seeking more time to solicit bids due to the current credit crunch that it said was discouraging buyout activity.
