Business

New business signings boost ACS revenue

ACS announced a record number of new business signings as part of its fiscal third-quarter results, released Thursday.

The company, which employs about 4,000 people in Kentucky including 2,000 in Lexington, said revenue increased 4.4 percent year-over-year to $1.61 billion in the quarter. Net income was $93.2 million, up from $82.6 million a year ago.

ACS provides business process outsourcing, such as document handling, and information technology work for companies.

The company, Kentucky's sixth-largest private employer, said new signings totaled $342 million of annual recurring revenue with estimated total contract values of $1.6 billion.

Its commercial segment contributed 60 percent of revenues and grew 6 percent, while government contributed the remaining 40 percent and grew 3 percent.

Of new signings, commercial business represented 71 percent and government represented 29 percent.

In after-hours trading, its shares (ACS:NYSE) fell 38 cents to $48.

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