This version reflects corrected e-Bill delivery metrics in
Attachment D for the first through fourth quarters of fiscal year
2005 ATLANTA, Aug. 1 /PRNewswire-FirstCall/ -- CheckFree
Corporation (NASDAQ:CKFR) today announced fourth quarter revenue of
$224.9 million, representing a 12 percent increase over the same
period last year. The Company's GAAP (Generally Accepted Accounting
Principles) net income for the quarter was $29.4 million, or $0.31
per share, and underlying net income was $36.5 million, or $0.39
per share. CheckFree reported GAAP consolidated revenue for fiscal
2006 of $879.4 million, reflecting 17 percent growth over fiscal
2005, and underlying revenue of $884.4 million for fiscal 2006,
also reflecting 17 percent growth over the previous fiscal year.
For the year, the Company's GAAP net income was $127.2 million, or
$1.36 per share, and underlying net income was $160.8 million, or
$1.72 per share. Free cash flow was $29.0 million for the fourth
quarter, and $170.2 million for the year as outlined in Attachment
A. "We are pleased with our fiscal 2006 results," said Pete Kight,
CheckFree Chairman and Chief Executive Officer. "Year-over-year
growth met our targets. In the fourth quarter, our Software and
Investment Services Divisions reported solid performance. The
consumer transaction growth in our Electronic Commerce Division was
soft for the quarter, resulting in quarterly growth below our
expectations. The long-term growth drivers of the consumer business
were all strong, including retained customers, new financial
institution contracts and new biller signings. We are entering
fiscal 2007 with strong fundamentals and increasing opportunity to
extend our market share in each of our business categories." GAAP
Results: Net income for the fourth quarter was $29.4 million,
compared to net income of $11.9 million for the same quarter last
year. Earnings per share were $0.31 for the fourth quarter of
fiscal 2006, compared to earnings per share of $0.13 for the fourth
quarter of last year. For fiscal 2006, net income was $127.2
million, or $1.36 per share, compared to net income of $46.8
million, or $0.50 per share for fiscal 2005. Net cash provided by
operating activities was $40.0 million for the fourth quarter of
fiscal 2006, compared to $47.0 million for the same period last
year. Net cash provided by operating activities was $212.8 million
for fiscal 2006, compared to $206.1 million for fiscal 2005.
Underlying Results: Underlying net income for the fourth quarter
was $36.5 million, unchanged from $36.5 million for the same
quarter of last year. Underlying earnings per share were $0.39 for
the fourth quarter of fiscal 2006, unchanged from $0.39 for the
fourth quarter of last year. For fiscal 2006, underlying net income
was $160.8 million, or $1.72 per share, compared to underlying net
income of $133.0 million, or $1.43 per share, for fiscal 2005.
Underlying net income and earnings per share for the fourth quarter
and full year of fiscal 2006 exclude the amortization of
acquisition-related intangible assets; the SFAS 123(R) impact of
options issued prior to July 1, 2004; and for the full year of
fiscal 2006 include the historical effect of discontinued
operations on revenue and expense, resulting from a divestiture in
the third quarter of fiscal 2006; and the combined tax benefits
from each of the foregoing. Underlying net income and earnings per
share for the fourth quarter and full year of fiscal 2005 exclude
the amortization of acquisition- related intangible assets; a
reorganization charge; a gain on investments; and include the
historical effect of discontinued operations on revenue and
expense, resulting from a divestiture in the third quarter of
fiscal 2006; and the combined tax benefits from each of the
foregoing. A reconciliation of CheckFree's quarterly and annual
underlying results to its GAAP results is included in Attachment A.
Fourth Quarter and Fiscal Year 2006 Highlights For the fourth
quarter of fiscal 2006, the Company reported that the Electronic
Commerce Division processed 302.2 million transactions, a 3 percent
sequential increase over the third quarter of fiscal 2006. For
fiscal 2006, 1.13 billion transactions were processed, compared to
904.5 million transactions processed in the previous fiscal year,
representing 25 percent annual growth. The Company delivered 50.0
million electronic bills during the fourth quarter, which reflects
a 7 percent sequential quarterly increase. For fiscal 2006,
CheckFree reported 184.6 million electronic bills, a 32 percent
year-over-year increase. CheckFree Investment Services reported
nearly 2.3 million portfolios under management, compared to 1.9
million at the end of fiscal 2005, representing a 20 percent
increase over the previous fiscal year. Total revenue for our
Software business increased by 35 percent over the prior fiscal
year. Refer to Attachment B for details on the financial
performance of CheckFree's divisions in the fourth quarter of
fiscal 2006, and Attachments C and D for electronic billing and
payment metrics. Financial Outlook for Fiscal 2007 and the First
Quarter of Fiscal 2007 "For fiscal 2007, we expect earnings per
share of $1.58 to $1.62 on a GAAP basis and $1.90 to $1.94 on an
underlying basis, representing 10 to 13 percent growth over fiscal
2006. As a reminder, we divested M-Solutions in February. Excluding
that divestiture, this represents 12 to 14 percent growth," said
David Mangum, CheckFree Chief Financial Officer. "We expect free
cash flow in the range of $190 million to $195 million for fiscal
2007. In addition, we expect to maintain CheckFree's operating
margin in our targeted mid-to-upper- 20-percent range. "For the
first quarter of the fiscal year, we estimate revenue between $226
million and $231 million with GAAP earnings per share in the range
of $0.29 to $0.31," said Mangum. "This equates to underlying
earnings per share in the range of $0.37 to $0.39. "We project
sequential transaction growth of 4 to 7 percent in the first
quarter of 2007 in our Electronic Commerce Division," he continued.
"We expect solid portfolio growth in the Investment Services
business, while we expect our Software division to deliver a
seasonally light first quarter for license sales," Mangum
concluded. The difference between GAAP and underlying earnings
expectations for fiscal 2007 and the first quarter of fiscal 2007
is due to expected acquisition-related intangible amortization
expenses, the SFAS 123(R) impact of options issued prior to July 1,
2004, and the combined tax benefits from each of the foregoing. The
Company also announced that it repurchased more than 550,000 shares
of its common stock for approximately $26 million during the fourth
quarter. The Company's board of directors recently approved a new,
separate stock repurchase program under which CheckFree may
repurchase up to $100 million in shares of its common stock through
July 31, 2007. Conference Call on the Internet CheckFree will
broadcast its fourth quarter conference call at 5 p.m. (ET) today
to review its financial results for the fourth quarter and fiscal
year ended June 30, 2006 and its expectations for the first quarter
of fiscal 2007 and for fiscal 2007. To phone into the conference
call, dial 1-877-232-1067 any time after 4:45 p.m. (ET) and ask for
the CheckFree conference call. Participants can also access the
conference call at http://www.checkfreecorp.com/. The live
conference call will be accessible through the Investor Center
section of the CheckFree corporate website at
http://www.checkfreecorp.com/. A digital replay of the call will be
available on the same website after 7 p.m. (ET). About CheckFree
(http://www.checkfreecorp.com/) Founded in 1981, CheckFree
Corporation (NASDAQ:CKFR) provides financial electronic commerce
services and products to organizations around the world. CheckFree
Electronic Commerce solutions enable thousands of financial
services providers and billers to offer their customers the
convenience of receiving and paying their household bills online or
in person through retail outlets. CheckFree Investment Services
provides a broad range of investment management solutions and
outsourced services to thousands of financial services
organizations, which manage about $1.4 trillion in assets.
CheckFree Software develops, markets and supports software
applications that are used by financial institutions to process
more than two-thirds of the nearly 14 billion Automated Clearing
House transactions in the United States. The division also provides
operational risk management, financial messaging, corporate
actions, and regulatory compliance software to more than 1,500
organizations across the globe. Certain of the Company's statements
in this press release are not purely historical, and as such are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These include statements
regarding management's intentions, plans, beliefs, expectations or
projections of the future, and include statements regarding
forecasts and expectations of ability to extend market share in
each business category, revenue for the first quarter of fiscal
2007, earnings per share for the first quarter of fiscal 2007 and
fiscal 2007 as a whole, free cash flow for fiscal 2007, and
sequential transaction growth and the general performance of the
Company's divisions in the first quarter of fiscal 2007 (paragraphs
3, 9, 10, 11 and 12). Forward-looking statements involve risks and
uncertainties, including without limitation, the various risks
inherent in the Company's business, and other risks and
uncertainties detailed from time to time in the Company's periodic
reports filed with the Securities and Exchange Commission,
including the Company's Annual Report on Form 10-K for the year
ended June 30, 2005 (filed September 2, 2005), Form 10-Q for the
quarter ended September 30, 2005 (filed November 8, 2005), Form
10-Q for the quarter ended December 31, 2005 (filed February 8,
2006), and Form 10-Q for the quarter ended March 31, 2006 (filed
May 9, 2006). One or more of these factors have affected, and could
in the future affect the Company's business and financial results
in future periods, and could cause actual results to differ
materially from plans and projections. There can be no assurance
that the forward-looking statements made in this press release will
prove to be accurate, and issuance of such forward-looking
statements should not be regarded as a representation by the
Company, or any other person, that the objectives and plans of the
Company will be achieved. All forward-looking statements made in
this press release are based on information presently available to
management, and the Company assumes no obligation to update any
forward-looking statements. CHECKFREE CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Operations (Unaudited) (In
thousands, except per share data) Three Months Ended Year Ended
June 30, June 30, 2006 2005 2006 2005 Revenues: Processing and
servicing $190,934 $173,754 $754,077 $660,541 License fees 10,337
9,471 35,196 28,458 Maintenance fees 11,511 8,479 42,218 31,230
Professional fees 12,157 9,315 47,912 29,618 Total revenues 224,939
201,019 879,403 749,847 Expenses: Cost of processing, servicing and
support 89,509 76,372 342,535 296,911 Research and development
28,989 21,590 101,854 80,038 Sales and marketing 26,147 22,491
87,419 69,106 General and administrative 13,170 14,915 61,947
57,488 Depreciation and amortization 21,899 45,133 99,648 175,722
Reorganization charge - 5,585 - 5,585 Total expenses 179,714
186,086 693,403 684,850 Income from continuing operations before
other income and expenses 45,225 14,933 186,000 64,997 Equity in
net loss of joint venture (653) (814) (3,100) (2,984) Interest, net
4,071 2,388 12,454 7,716 Gain on investments - - - 592 Income from
continuing operations before income taxes 48,643 16,507 195,354
70,321 Income tax expense 19,230 4,850 74,410 24,510 Income from
continuing operations 29,413 11,657 120,944 45,811 Earnings from
discontinued operations before income taxes (including gain on
disposal of $12,821 in FY'2006) - 421 14,311 1,518 Income tax
expense on discontinued operations - 133 8,064 528 Income from
discontinued operations - 288 6,247 990 Net income $29,413 $11,945
$127,191 $46,801 Basic income per share: Continuing operations
$0.32 $0.13 $1.33 $0.51 Discontinued operations 0.00 0.00 0.07 0.01
Total basic income per share $0.32 $0.13 $1.40 $0.52 Weighted
average number of shares 91,287 90,962 90,984 90,767 Diluted income
per share: Continuing operations $0.31 $0.13 $1.29 $0.49
Discontinued operations 0.00 0.00 0.07 0.01 Total diluted income
per share $0.31 $0.13 $1.36 $0.50 Weighted average number of shares
94,232 93,054 93,708 92,915 CHECKFREE CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheets (Unaudited) (In thousands)
June 30, June 30, 2006 2005 Current assets: Cash, cash equivalents
and investments $317,972 $298,077 Settlement assets 107,128 73,675
Accounts receivable, net 146,246 127,933 Prepaid expenses and other
assets 39,855 26,258 Deferred income taxes 7,270 10,407 Total
current assets 618,471 536,350 Property and equipment, net 100,217
89,273 Intangible assets, net 906,650 840,732 Investments and
restricted cash 78,559 62,996 Other noncurrent assets 8,372 4,600
Deferred income taxes 44,618 35,648 Investment in joint venture 407
317 Total assets $1,757,294 $1,569,916 Current liabilities:
Accounts payable, accrued liabilities and other $92,112 $84,109
Settlement obligations 103,732 73,919 Deferred revenue 43,322
40,793 Total current liabilities 239,166 198,821 Accrued rent and
other 3,844 4,324 Deferred income taxes 2,289 4,967 Capital lease
and long-term obligations, less current portion 28,432 25,389 Total
stockholders' equity 1,483,563 1,336,415 Total liabilities and
stockholders' equity $1,757,294 $1,569,916 Attachment A Calculation
of Free Cash Flow (Unaudited) (In thousands) Three Months Ended
Year Ended June 30, June 30, 2006 2005 2006 2005 Net cash provided
by operating activities $40,036 $46,996 $212,837 $206,095
Excluding: Net change in settlement accounts 1,236 (83) 3,430 (153)
Less: Capital expenditures (14,279) (9,562) (48,096) (33,893) Plus:
Data Center Reimbursements 2,046 - 2,046 - Free cash flow $29,039
$37,351 $170,217 $172,049 Additional Information: Net cash used in
investing activities $(50,429) $(23,015) $(138,076) $(215,855) Net
cash (used in) provided by financing activities $(20,438) $(33,710)
$(2,847) $(24,113) Use of Non-GAAP Financial Information The
Company supplements its reporting of cash flow information
determined in accordance with GAAP by using "free cash flow" in
this earnings release as a measure to evaluate its liquidity. The
Company defines free cash flow as GAAP net cash provided by
operating activities, exclusive of the net change in settlement
accounts, less capital expenditures, plus data center
reimbursements. The Company believes free cash flow provides useful
information to management and investors in understanding its
financial results and assessing its prospects for future
performance. CheckFree also uses free cash flow as a factor in
determining long-term incentive compensation for senior management.
The Company excludes the net change in settlement accounts from
free cash flow because it believes this facilitates management's
and investors' ability to analyze operating cash flow trends. In
connection with its walk-in payment business, the Company's balance
sheet reflects settlement assets and settlement obligations. The
settlement assets represent payment receipts in transit to the
Company from agents, and the settlement obligations represent
scheduled but unpaid payments due to billers. Balances in
settlement accounts fluctuate daily based on deposit timing and
payment transaction volume. These timing differences are not
reflective of the Company's liquidity, and thus, CheckFree excludes
the net change in settlement accounts from free cash flow. As a
technology company, CheckFree makes significant capital
expenditures in order to update its technology and to remain
competitive. The Company's free cash flow reflects the amount of
cash it generated that remains, after it has met those operational
needs, for the evaluation and execution of strategic initiatives
such as acquisitions, stock and/or debt repurchases and other
investing and financing activities, including servicing additional
debt obligations. During the fourth quarter of fiscal 2006, the
Company entered into a credit facility to finance the construction
of data centers. Amounts expended by the Company to construct these
data centers are included in the Company's capital expenditures,
but will be fully reimbursed by the credit facility. The
reimbursements from the credit facility are added to our free cash
flow measure because these expenditures do not impact the Company's
overall liquidity. Free cash flow does not solely represent
residual cash flow available for discretionary expenditures, as
certain of CheckFree's non-discretionary obligations are also
funded out of free cash flow. These consist primarily of payments
on capital leases and other long-term commitments, if any, as
reflected in the table entitled "Contractual Obligations" in the
"Liquidity and Capital Resources" section of "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" contained in CheckFree's Annual Report on Form 10-K for
the fiscal year ended June 30, 2005, which was filed with the
Securities and Exchange Commission on September 2, 2005. The
Company's free cash flow should be considered in addition to, and
not as a substitute for, net cash provided by operating activities
or any other amount determined in accordance with GAAP. Further,
CheckFree's measure of free cash flow may not be comparable to
similarly titled measures reported by other companies. Attachment A
(continued) Reconciliation of GAAP Net Income to Underlying Net
Income and Earnings Per Share (Unaudited) (In thousands, except per
share data) Three Months Ended Year Ended June 30, June 30, 2006
2005 2006 2005 Total revenues per GAAP $224,939 $201,019 $879,403
$749,847 Impact of discontinued operations(1) - 2,004 4,957 7,985
Underlying total revenues $224,939 $203,023 $884,360 $757,832 Net
income per GAAP $29,413 $11,945 $127,191 $46,801 Gain from
discontinued operations, net of taxes - - (5,597) - Impact of
discontinued operations(1) - 424 1,487 1,520 Amortization of
acquisition-related intangible assets 10,586 33,889 57,037 133,446
SFAS 123(R) - Stock options issued before July 1, 2004 758 - 4,136
- Gain on investments - (592) - (592) Reorganization charge - 5,585
- 5,585 Tax benefit of underlying adjustments (excluding
discontinued operations) (4,251) (14,774) (23,446) (53,756)
Underlying net income $36,506 $36,477 $160,808 $133,004 GAAP and
underlying basic weighted average shares outstanding 91,287 90,962
90,984 90,767 GAAP and underlying impact of dilutive options and
warrants 2,945 2,092 2,724 2,148 GAAP and underlying diluted
weighted average shares outstanding 94,232 93,054 93,708 92,915
GAAP total basic earnings per share $0.32 $0.13 $1.40 $0.52 GAAP
total diluted earnings per share $0.31 $0.13 $1.36 $0.50 Underlying
total basic earnings per share $0.40 $0.40 $1.77 $1.47 Underlying
total diluted earnings per share $0.39 $0.39 $1.72 $1.43 (1)See
page 10, note (2) Use of Non-GAAP Financial Information CheckFree
supplements its reporting of total revenues, income (loss) from
operations, net income (loss) and earnings (loss) per share
information determined in accordance with GAAP by using "underlying
revenue," "underlying income (loss) from operations," "underlying
net income (loss)" and "underlying earnings (loss) per share" in
this earnings release. Management believes that certain non-cash
adjustments to revenues or expenses enhance the Company's
evaluation of its performance, and are not pertinent to day to day
operational decision making in the business. Therefore, CheckFree
excludes these items from GAAP revenue, income (loss) from
operations, net income (loss) and earnings (loss) per share in
calculating underlying revenue, underlying income (loss) from
operations, underlying net income (loss) and underlying earnings
(loss) per share. Examples of such non-cash adjustments may
include, but not be limited to, intangible asset amortization
expense and in-process research and development costs associated
with acquisitions, charges associated with the impairment of
intangible assets, charges resulting from warrants issued to third
parties, and charges associated with reorganization activities, all
offset by the cumulative tax impact of these charges. CheckFree
excludes these items in order to more clearly focus on the factors
it believes are pertinent to the daily management of the Company's
operations, and management uses underlying results to evaluate the
impact of operational business decisions. CheckFree regularly
reports underlying results to its Chairman and Chief Executive
Officer, the Company's chief operating decision maker, who uses
this information in allocating resources to CheckFree's various
business units. Additionally, as CheckFree rewards its management
for their decisions that increase revenues and decrease
controllable costs, the Company uses underlying revenues and
underlying income (loss) from operations as factors in determining
short-term incentive compensation for management, and uses
underlying revenues, underlying net income (loss) and underlying
earnings (loss) per share as factors in determining long-term
incentive compensation for management. Because CheckFree utilizes
underlying financial results in the management of its business and
to determine incentive compensation for management, the Company
believes this supplemental information is useful to investors for
their independent evaluation and understanding of the performance
of the Company's management and its core business performance.
CheckFree's underlying revenues, underlying income (loss) from
operations, underlying net income (loss) and underlying earnings
(loss) per share should be considered in addition to, and not as a
substitute for, revenues, income (loss) from operations, net income
(loss) or earnings (loss) per share or any other amount determined
in accordance with GAAP. CheckFree's measures of underlying
revenues, underlying income (loss) from operations, underlying net
income (loss) and underlying earnings (loss) per share reflect
management's judgment of particular items, and may not be
comparable to similarly titled measures reported by other
companies. Attachment A (continued) CHECKFREE CORPORATION AND
SUBSIDIARIES Supplemental Underlying Consolidated Condensed
Statements of Operations (Unaudited) (In thousands, except per
share data) Three Months Ended Year Ended June 30, June 30, 2006
2005 2006 2005 Revenues: Processing and servicing $190,934 $175,722
$758,797 $668,353 License fees 10,337 9,471 35,196 28,458
Maintenance fees 11,511 8,487 42,244 31,265 Professional fees
12,157 9,343 48,123 29,756 Total revenues 224,939 203,023 884,360
757,832 Expenses: Cost of processing, servicing and support 89,325
76,461 341,713 297,256 Research and development 28,766 22,229
102,002 82,550 Sales and marketing 26,016 22,708 87,177 70,054
General and administrative 12,950 15,338 61,708 59,272 Depreciation
and amortization 11,313 10,417 43,100 42,113 Total expenses 168,370
147,153 635,700 551,245 Income from operations 56,569 55,870
248,660 206,587 Equity in net loss of joint venture (653) (814)
(3,100) (2,984) Interest, net 4,071 2,387 12,454 7,716 Income
before income taxes 59,987 57,443 258,014 211,319 Income tax
expense 23,481 20,966 97,206 78,315 Net income $36,506 $36,477
$160,808 $133,004 Basic income per share: Net income $0.40 $0.40
$1.77 $1.47 Weighted average number of shares 91,287 90,962 90,984
90,767 Diluted income per share: Net income $0.39 $0.39 $1.72 $1.43
Weighted average number of shares 94,232 93,054 93,708 92,915
Attachment B Reconciliation of GAAP Results to Underlying Results
by Segment (Unaudited) (In thousands) Three Months Ended Year Ended
June 30, June 30, 2006 2005 2006 2005 Electronic Commerce: Total
revenues - GAAP and underlying $166,541 $152,800 $662,728 $580,696
Income from continuing operations - GAAP $45,934 $20,230 $195,730
$74,413 Amortization of acquisition- related intangible assets
9,035 32,494 49,072 130,175 Reorganization charge - 3,208 - 3,208
SFAS 123(R) - Stock options issued before July 1, 2004(1) 550 -
2,999 - Underlying income from continuing operations $55,519
$55,932 $247,801 $207,796 Investment Services: Total revenues -
GAAP $28,747 $23,202 $107,289 $88,079 Impact of discontinued
operations(2) - 2,004 4,957 7,985 Total revenues - Underlying
$28,747 $25,206 $112,246 $96,064 Income from continuing operations
- GAAP $3,650 $4,729 $13,940 $16,201 Amortization of acquisition-
related intangible assets 484 151 1,992 604 Reorganization charge -
313 - 313 Impact of discontinued operations(2) - 424 1,487 1,520
SFAS 123(R) - Stock options issued before July 1, 2004(1) 78 - 427
- Underlying income from continuing operations $4,212 $5,617
$17,846 $18,638 Software: Total revenues - GAAP and underlying
$29,651 $25,017 $109,386 $81,072 Income from continuing operations
- GAAP $3,727 $220 $14,640 $12,166 Amortization of acquisition-
related intangible assets 1,067 1,244 5,973 2,667 Reorganization
charge - 1,876 - 1,876 Write off of capitalized software - 1,039 -
1,039 SFAS 123(R) - Stock options issued before July 1, 2004(1) 34
- 185 - Underlying income from continuing operations $4,828 $4,379
$20,798 $17,748 Corporate: Loss from continuing operations - GAAP
$(8,086) $(10,246) $(38,310) $(37,783) SFAS 123(R) - Stock options
issued before July 1, 2004(1) 96 188 525 188 Underlying loss from
continuing operations $(7,990) $(10,058) $(37,785) $(37,595) (1) At
the beginning of fiscal 2005, we implemented a new long-term
incentive compensation philosophy, which significantly reduced
overall participation and focused on restricted stock with limited
stock options. As a result, we recorded the cost of restricted
stock throughout fiscal 2005 in both underlying and GAAP results.
In fiscal 2006, we have adopted SFAS 123(R), and are consequently
recording all long-term incentive grants, both restricted stock and
options, as an expense to both underlying and GAAP results. The
adjustment from GAAP to underlying operating results in the table
above reflects the SFAS 123(R) charge associated with options
granted prior to July 1, 2004 under our previous compensation
philosophy, which were originally accounted for utilizing APB 25.
(2) In the third quarter ended March 31, 2006, the divestiture of
our M-Solutions business, a component of our Investment Services
segment, created a unique situation for our presentation of
underlying results versus GAAP results. SFAS 144, "Accounting for
the Impairment or Disposal of Long-Lived Assets," requires us to
report the results of operations from the disposed business,
including any gain or loss on the sale, as an income statement item
separately captioned "earnings from discontinued operations" on our
GAAP basis unaudited condensed Statements of Operations. This
treatment is required for all periods presented, not just the
period in which the sale took place. In contrast, for purposes of
our underlying results, we have excluded the gain on disposition in
the current periods, and included the results of the M-Solutions
business for the periods of time that we owned the business during
the current quarter and for all of the prior periods presented.
Attachment C Electronic Billing and Payment Metrics (In millions,
except revenue/transaction and percentages) Quarter Ended 6/30/2006
3/31/2006 12/31/2005 9/30/2005 6/30/2005 Transactions Full Service
Revenue $107.6 $109.4 $116.0 $118.5 $110.1 Active Subscribers(1)
10.3 9.7 9.0 8.8 7.8 Transactions 217.2 206.7 189.7 180.1 161.9
Revenue/ Transaction $0.50 $0.53 $0.61 $0.66 $0.68 Payment Services
Revenue $46.6 $47.8 $36.1 $35.4 $33.8 Transactions 85.0 86.6 81.0
85.9 83.0 Revenue/ Transaction $0.55 $0.55 $0.45 $0.41 $0.41 Total
302.2 293.3 270.7 266.0 244.9 Sequential Quarterly Growth 3% 8% 2%
9% 4% Other Revenue(2) $12.3 $12.2 $11.2 $9.7 $8.9 e-Bill Delivery
Electronic bills distributed 50.0 46.7 45.2 42.7 41.0 Quarterly
sequential growth 7% 3% 6% 4% 11% Electronic Rate Electronic
payment rate 84% 84% 83% 83% 84% (1) "Active" refers to subscribers
who have viewed or paid a bill in the last 90 days at a Consumer
Service Provider that outsources essentially all of its electronic
billing and payment (EBP) functions to CheckFree. (2) Other revenue
includes Health and Fitness, Professional Services and Stored Value
Products. Attachment D Electronic Billing and Payment Metrics (In
millions, except revenue / transaction and percentages) Quarter
Ended 6/30/2006 3/31/2006 12/31/2005 9/30/2005 Total Payment
Transactions Revenue $146.2 $149.8 $144.9 $146.9 Revenue /
Transaction $0.48 $0.51 $0.54 $0.55 Transactions 302.2 293.3 270.7
266.0 Sequential Quarterly Growth 3% 8% 2% 9% e-Bill Delivery
Revenue $8.0 $7.4 $7.2 $6.8 Revenue / e-Bill $0.16 $0.16 $0.16
$0.16 e-Bills Delivered 50.0 46.7 45.2 42.7 Sequential Quarterly
Growth 7% 3% 6% 4% Other EC Revenue(1) $12.3 $12.2 $11.2 $9.7 Other
Performance Metrics Active Full Service Subscribers(2) 10.3 9.7 9.0
8.8 Quarter Ended 6/30/2005 3/31/2005 12/31/2004 9/30/2004 Total
Payment Transactions Revenue $137.1 $132.8 $128.4 $124.8 Revenue /
Transaction $0.56 $0.57 $0.59 $0.61 Transactions 244.9 234.4 219.4
205.8 Sequential Quarterly Growth 4% 7% 7% 25% e-Bill Delivery
Revenue $6.7 $5.9 $5.3 $4.8 Revenue / e-Bill $0.16 $0.16 $0.16
$0.16 e-Bills Delivered 41.0 36.8 32.8 29.6 Sequential Quarterly
Growth 11% 12% 11% 14% Other EC Revenue(1) $8.9 $8.9 $8.4 $8.6
Other Performance Metrics Active Full Service Subscribers(2) 7.8
7.4 6.9 6.4 (1) Other EC revenue includes Health and Fitness,
Professional Services and Stored Value Products. (2) "Active"
refers to subscribers who have viewed or paid a bill in the last 90
days at a Consumer Service Provider that outsources essentially all
of its electronic billing and payment (EBP) functions to CheckFree.
DATASOURCE: CheckFree Corporation CONTACT: Media relations, Judy
DeRango Wicks, +1-678-375-1595, or , or Investor relations, Tina
Moore, +1-678-375-1278, or , both of CheckFree Corporation Web
site: http://www.checkfreecorp.com/
Copyright
Checkfree Corp (MM) (NASDAQ:CKFR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Checkfree Corp (MM) (NASDAQ:CKFR)
Historical Stock Chart
From Oct 2023 to Oct 2024