CheckFree Corp. (Nasdaq: CKFR) fell 4 5/16 to 50 7/16 Wednesday after the company, which provides electronic billing services, reported a fourth quarter loss and said it will lose money in the first quarter as well.
The Atlanta, Georgia-based CheckFree said revenue for the quarter ended June 30th rose to $88.5 million from $70.8 million in the same period a year earlier, while the loss before items totaled $5.1 million, or 9 cents per share, compared with a profit of $2.8 million, or 5 cents.
Top priorities for the new fiscal year include expanding offerings to partners, getting billers to use electronic payment services, and cutting costs, the company said. Revenue in the first quarter is likely to total $86 to $91 million, resulting in a loss of 10 to 12 cents per share.
Earnings before taxes, depreciation and amortization should be positive for the full year, CheckFree said.