CheckFree Rose 21% Last Week

Author:: TSC Staff
Publish date:: Apr 26, 2002 6:14 PM EDT

Electronic bill payment company

CheckFree

(CKFR)

gained about 21% this week after the company narrowed its third-quarter loss and raised its full year pro forma outlook. The company reported a loss of $77.5 million, or 89 cents a share, compared with a loss of $101.1 million, or $1.17 a share, a year ago. On a pro forma basis, the company turned a profit of 7 cents a share, up from a loss of 4 cents a year ago and ahead of analyst estimates of a profit of 2 cents a share. The company also raised its guidance, saying it now sees fourth quarter EPS of 12 cents to 14 cents on revenue of $125 million to $130 million and full year EPS of 17 to 19 cents a share, ahead of its previous guidance of low to mid-teens EPS for the year. Several analysts upgraded the stock on Wednesday after the earnings release.