CFO - Fundtech Ltd.
FUNDTECH REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER 2010
JERSEY CITY, N.J. —August 4, 2010 - Fundtech Ltd. (NASDAQ: FNDT), a market leader in global
transaction banking solutions, today announced financial results for the second quarter 2010. Fundtech posted
quarterly revenues of $34.8 million, a 23% increase year-over-year, compared to second quarter revenues of
$28.3 million in 2009, and a 4% increase compared to first quarter 2010 revenues of $33.4 million.
On a GAAP (Generally Accepted Accounting Principles) basis, Fundtech reported net income of $2.4 million, or
$0.15 per diluted share, for the second quarter of 2010 compared with net income of $0.5 million, or $0.03 per
diluted share, in the second quarter of 2009, and net income of $1.4 million, or $0.09 per diluted share, in the
first quarter of 2010.
Excluding stock-based compensation, amortization of intangibles, and deferred taxes Fundtech’s adjusted (non-
GAAP) net income for the second quarter of 2010 was $3.6 million, or $0.22 per diluted share, compared with
$1.8 million, or $0.11 per diluted share, in the second quarter of 2009 and $2.5 million, or $0.16 per diluted
share, in the first quarter of 2010. (See Schedule A attached to this news release -- Reconciliation to GAAP).
“Second quarter revenues and operating income set a new record high for us and 2010 is shaping up as a strong
growth year in terms of both the top line - and the bottom line” said Fundtech CEO Reuven
BenMenachem. "For the first half of 2010 revenues grew year over-year by 25% and Adjusted EBITDA grew
year over-year 94% from $5.7 million to $11.1 million. The improvement in profitability is the result of the
revenue growth as well as improved efficiency associated with the scaling of our business and improved cost
controls. Our increased guidance indicates that we expec