CheckFree Holdings Corp. (CKFR), the next Dell, Intel? Message Board

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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?

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To: AugustWest who wrote (19857)	10/30/2002 5:43:57 PM
From: StocksMan	Read Replies (1) of 20297

Forbes Best Of The Web Financial Services Financial services companies used to leave huge, expensive paper trails when they did their business. With the Web, it's becoming more automated, faster and cheaper. Many companies are finding success on the Web, from old-line companies like Citigroup to newer players like CheckFree. -- Ben Berentson forbes.com CheckFree (CKFR) www.checkfree.com Chief Executive Officer: Peter J. Knight Chief Financial Officer: David E. Mangum Chief Technology Officer: Ravi Ganesan Clients: 600 banking, brokerage and financial sites, including Yahoo, Wells Fargo, Fidelity. Description: If you pay bills online, you're probably paying them through CheckFree. The company processed 313 million payments in 2002, a 36% increase over 2001. The number of people subscribing to CheckFree-powered billpaying services also leapt from 5 million to 6.6 million. About 265 billers, like BankOne and JCPenney, present their bills using CheckFree. CheckFree has a huge lead on the competition and benefits from its established name. But Metavante, which just bought Spectrum, a billpaying joint-venture of banks like JP Morgan and Wells Fargo, is expected to give CheckFree competition down the road. Fiscal year 2002 revenues were $493.2 million, a 14% growth from 2001. The company turned a $14.8 million loss in 2001 into a $17.1 million profit for 2002. - Forbes Best of The Web pick forbes.com

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