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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: axp who wrote (18843)	10/24/2001 11:50:20 AM
From: Rob C.	Respond to of 20297

CheckFree meets Q1 view; warns on Q2 CheckFree Holdings (CKFR) is down $3.09, or 18.1 percent, to $13.74, after the Atlanta provider of financial electronic commerce services reported a first-quarter pro forma loss of $1.9 million, or 2 cents a share, narrower than a year-ago loss of $5.5 million, or 9 cents a share, and in line with Wall Street expectations. Revenue rose to $116.7 million in the latest three months from $90.8 million in the same period a year earlier. However, the company said that its sequential quarterly subscriber growth of 7 percent was lower than expected. Total subscribers rose to 5.6 million as of Sept. 30 from 3.8 million at the same time last year. "Revenues and earnings were in-line with our forecasts, and we continued to deliver increased efficiency across each of our business units," said Pete Kight, the company's chairman and CEO, in a press release. "While subscriber growth was at the low end of our expectations, our ongoing experience, and the body of recent market research, continues to confirm that consumers, billers and financial institutions highly value -- and will continue to support -- mainstream adoption of electronic billing and payment services, and other types of electronic financial transactions." The company maintained its full-year fiscal 2002 outlook for pro forma earnings in the mid- to high single digits. Analysts polled by Thomson Financial/First Call are looking for a profit of 6 cents a share in the period. However, for the second quarter, CheckFree forecast a pro forma loss of 1 to 3 cents a share on revenue of $115 million to $120 million, below Wall Street's consensus estimate for a profit of a penny a share.