CheckFree Strengthens Health & Fitness Leadership with Acquisition of Aphelion
01 Novembro 2005 - 1:00PM
PR Newswire (US)
ATLANTA, Nov. 1 /PRNewswire-FirstCall/ -- CheckFree Corporation
(NASDAQ:CKFR) today announced the acquisition of substantially all
of the assets of Aphelion, Inc., a leading provider of health club
management software and services, for $18 million in a cash
transaction that closed on October 31, 2005. The combination of two
pioneers in the health and fitness industry creates an organization
that will provide high-quality services and products for health and
fitness clubs of all sizes, and assure continued technology
advancements for the entire market. CheckFree's 25 years in
electronic commerce began with the automation of monthly health
club dues in 1981. The addition of Aphelion expands the number of
clubs that CheckFree serves, strengthens the Company's presence in
the mid-size and independent club markets, and brings CheckFree
prospective electronic funds transfer customers. Aphelion also
establishes CheckFree's Health & Fitness presence
internationally in Europe, Canada and Asia-Pacific with club
management solutions in multiple local languages, and
round-the-clock customer support. Both CheckFree and Aphelion have
been innovators in the health and fitness industry and are credited
with advancements in electronic funds transfer and club management
software, respectively. The acquisition brings the resources of a
large organization to Aphelion customers and prospects, while
CheckFree expands its expertise with the continued service of
Aphelion's founders and its base of associates. "With the
acquisition of Aphelion, CheckFree is reaffirming its commitment to
technology leadership in the health and fitness industry," said
Matt Lewis, executive vice president and general manager of
CheckFree's Electronic Commerce division. "The addition of Aphelion
brings CheckFree a strong, complementary customer base with
opportunities for continued growth and innovation in processing and
management solutions for health clubs of all sizes." Update to
Second Quarter and Fiscal 2006 Financial Outlook CheckFree's
earnings expectations for the quarter ending December 31, 2005 and
the fiscal year 2006 ending June 30, 2006 remain unchanged. The
acquisition of Aphelion is expected to contribute about $1 million
in revenue for the second quarter of the fiscal year. The Company
now expects second quarter revenue in the range of $211 to $216
million. For the quarter ending December 31, 2005, the Company
continues to expect GAAP earnings per share in the range of $0.33
to $0.36 and underlying earnings per share in the range of $0.40 to
$0.42. For fiscal 2006, GAAP earnings per share expectations remain
in the range of $1.08 to $1.13, with underlying expectations for
earnings per share in the range of $1.50 to $1.54. 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 more than $1.2 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 12 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 CheckFree'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 revenue for the second quarter of
fiscal 2006, earnings per share for the second quarter of fiscal
2006 and fiscal 2006 as a whole (paragraph 5). Forward-looking
statements involve risks and uncertainties, including without
limitation, the various risks inherent in CheckFree's business, and
other risks and uncertainties detailed from time to time in
CheckFree's periodic reports filed with the Securities and Exchange
Commission, including CheckFree's Annual Report on Form 10-K for
the year ended June 30, 2005 (filed September 2, 2005). One or more
of these factors have affected, and could in the future affect
CheckFree'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 CheckFree, or any other person,
that the objectives and plans of CheckFree will be achieved. All
forward-looking statements made in this press release are based on
information presently available to management, and CheckFree
assumes no obligation to update any forward-looking statements. Use
of Non-GAAP Financial Information CheckFree supplements its
reporting of revenue, 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." Management believes that
certain non-cash adjustments to revenue or expense 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 charges 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 revenue and decrease controllable
costs, the company uses underlying revenue and underlying income
(loss) from operations as factors in determining short-term
incentive compensation for management, and uses underlying revenue,
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 revenue, 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, revenue, 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 revenue,
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. 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/
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