[April 17, 2012]

Open Solutions Operating Momentum Continues

Open Solutions Inc.®, the leading provider of collaborative enterprise technology to community-based financial institutions worldwide, today provided guidance regarding its financial performance for the first quarter ended March 31, 2012.

First Quarter Performance

Sales bookings increased 26% year-over-year, a continuation of a trend that began in the second quarter of 2011. We expect adjusted revenues for the first quarter will exceed the same period last year by approximately 5%. Adjusted EBITDA, the measure that our investors use to evaluate our performance, is expected to exceed the year ago period by approximately 25% with the associated Adjusted EBITDA margin to be at or above historical highs.

Commenting on the first quarter performance, John W. Frederick, Executive Vice President and Chief Financial Officer said, "This combination of revenue and earnings growth as well as above-market bookings growth demonstrates both the power of Open Solutions' radically different enterprise technology platform and the effects of our leaner, more directed cost structure focused around service."

Open Solutions Inc.

Open Solutions Inc.® helps community-based financial institutions around the world enrich their local economies by providing innovative technologies and insights that enable them to operate more profitably, efficiently and collaboratively.

Industry pioneers, Open Solutions revolutionized enterprise technology with DNA™, the first open, relationship-centered core banking platform built for global collaboration. This radically different approach to enterprise technology enables banks and credit unions around the world to leverage the power of community through DNAappstore™, the first-ever collaborative marketplace for user-created core enhancements.

Extending the power of DNA further, Open Solutions offers a full range of complementary payments, item processing, distributed capture, internet banking, mobile banking, CRM, business intelligence, loan origination, financial accounting, account analysis, wealth management, digital document, interactive voice response, and hardware solutions, plus independent industry insight and guidance from Raddon Financial Group.

For more information about Open Solutions, visit Open Solutions at www.opensolutions.com. You can also fan Open Solutions on http://www.facebook.com/opensolutionsinc or follow Open. Solutions via Twitter (News - Alert) @OpenSolutionsCC.

Open Solutions Inc.^® is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2012 Open Solutions Inc. All rights reserved.

Safe Harbor Statement

Any statement in this press release that is not a statement of historical fact may be deemed to be a forward-looking statement. These statements include forecasted growth in Open Solutions. Other forward-looking statements include those regarding Open Solutions' business outlook for 2012 and beyond and statements containing words such as anticipate, believe, plan, estimate, target, expect, seek, intend and other similar words that signify forward-looking statements.

[ Back To TMCnet.com's Homepage ]