NEW YORK – CheckFree Corp., a developer of technology for electronic commerce, on Monday posted a first-quarter profit, reversing a year-earlier loss, helped by better-than-expected software sales.
The Atlanta-based company, which develops services like online bill payment technology, said net income was $6.2 million, or 7 cents per share, compared with a net loss of $6.7 million, or 7 cents per share, a year earlier.
Underlying net income, which excludes the amortization of acquisition-related intangible assets and related tax benefits, rose to 29 cents per share from 21 cents during the same quarter last year.
Analysts generally expected the company to earn $0.26 per share during the quarter, according to Reuters Estimates.
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