ATLANTA, Jan 25 (Reuters) -
CHECKFREE HOLDINGS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Operations
(Unaudited)
(In thousands, except per share data)
Three Months Ended Six Months Ended
December 31, December 31,
1999 1998 1999 1998
Revenues:
Processing and
servicing
$62,627 $48,521 $120,931 $93,575
License fees
3,201 3,441 6,197 6,412
Maintenance fees
4,518 4,238 8,956 9,202
Other 2,623 3,405 5,905 7,230
Total Revenues
72,969 59,605 141,989 116,419
Expenses:
Cost of processing,
servicing and
support 43,906 34,368 86,899 71,457
Research and
development
8,286 5,579 15,110 12,157
Sales, marketing
and royalties
9,909 7,408 18,577 15,232
General and
administrative
9,363 7,625 19,287 14,358
Depreciation and
amortization
7,780 6,033 14,756 11,999
Total Expenses
79,244 61,013 154,629 125,203
Net gain on
dispositions of assets
--- --- --- 3,914
Loss from operations
(6,275) (1,408) (12,640) (4,870)
Interest, net
(102) 426 143 1,219
Loss before
income taxes
(6,377) (982) (12,497) (3,651)
Income tax benefit
(2,408) (12,357) (4,592) (13,558)
Net income (loss)
$(3,969) $11,375 $(7,905) 9,907
Basic earnings
(loss) per share:
Net income (loss)
per common share
$(0.08) $0.22 $(0.15) $0.19
Equivalent number
of shares
52,200 51,326 52,023 53,419
Diluted earnings
(loss) per share:
Net income (loss)
per common share
$(0.08) $0.22 $(0.15) $0.18
Equivalent number
of shares
52,200 52,553 52,023 54,664
Supplemental reconciliation
of net loss and loss per share:
Loss before income
taxes, as reported
$(6,377) $(982) $(12,497) $(3,651)
One time items:
Losses and charges related
to divested products
--- --- --- 1,622
Charges associated
with corporate
entity structuring
--- 624 --- 624
Charges associated with
real estate transactions
--- 644 --- 644
Net gain on dispositions
of assets --- --- ---
(3,914)
Adjusted income (loss)
before income taxes
(6,377) 286 (12,497) (4,675)
Income tax expense (benefit):
Income tax benefit
as reported
(2,408) (12,357) (4,592) (13,558)
Taxes associated
with one time items
--- 12,836 --- 11,805
Adjusted income tax
expense (benefit)
(2,408) 479 (4,592) (1,753)
Net loss excluding losses
and charges related to
divested products, charges
associated with corporate
entity structuring and real
estate transactions and net
gain on dispositions
of assets
$(3,969) $(193) $(7,905) $(2,922)
Netloss per common share
(basic and diluted),
excluding losses and
charges related to divested
products, charges associated
with corporate entity
structuring and real estate
transactions, and net gain
on dispositions
of assets
$(0.08) $(0.00) $(0.15) $(0.05)
NOTE: The company said it was comfortable with published
financial analyst expectations of a loss ranging between
$0.09-0.11 for the third quarter.
It also said it expected consolidated revenues for the
quarter to be in the range of $73-78 million.
"Management remains confident in its expectation, shared in
August, of closing the year at break-even or slightly positive
EBITDA, with a loss per share of 40 cents or better," it said.
REUTERS
Rtr 18:14 01-25-00
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