CheckFree Brings In $215.9 Million In Second QTR

CheckFree Corporation reported a second quarter revenue of $215.9 million in 2006. The company's GAAP net income for the second quarter was $33.8 million, compared to net income of $13 million for the same quarter last year. Earnings per share

By None

CheckFree Corporation reported a second quarter revenue of $215.9 million in 2006.

The company’s GAAP net income for the second quarter was $33.8 million, compared to net income of $13 million for the same quarter last year. Earnings per share were $0.36 for the second quarter of fiscal 2006, compared to earnings per share of $0.14 for the second quarter of last year.

Net cash provided by operating activities was $56.8 million for the second quarter of fiscal 2006, compared to $65.9 million for the same period last year.

Underlying net income for the second quarter was $41 million, compared to $33.7 million for the same quarter of last year. Underlying earnings per share were $0.44 for the second quarter of fiscal 2006, compared to $0.36 for the second quarter of last year.

“CheckFree’s divisions delivered solid results in the second quarter to complete a good first half of the fiscal year,” said Pete Knight, chairman and CEO of CheckFree. “Transaction growth in the electronic commerce division was in line with our expectations while both portfolio growth in Investment Services and license sales in the software business were strong.”

For the second quarter, CheckFree reported second quarter electronic transactions of 270.7 million, a 2% increase over the first quarter of fiscal 2006, and delivered 45.2 million e-Bills, a increase of 6% over the first quarter of fiscal 2006.

CheckFree Investment Services reached 2.1 million portfolios under management, which compares to almost 1.7 million portfolios under management in the second quarter of fiscal 2005, representing 22% annual growth. The software division delivered solid performance in the second quarter, with revenue growth of 23% over the second quarter of fiscal 2005.

For the third quarter the company predicts revenue in the range of $217 million to $222 million, and GAAP earnings per share in the range of $0.27 to $0.30.

«