CheckFree Corp. cut its revenue forecast for its fiscal third quarter by nearly $1.5 million because of a sale announced Monday.
The Atlanta company said it would record a one-time gain on the sale of the assets of the investment research products unit M-Solutions, of Durham, N.C., to Informa Investment Solutions Inc., a unit of the specialty publisher Informa PLC. It did not disclose the price.
CheckFree said it expects the sale to cause a "nominal" reduction in its earnings for the fiscal third quarter, which ends March 31.
It said the sale would not affect its official earnings per share but would modestly reduce its "underlying earnings per share," which is its preferred measure of operating profit, and its free cash flow.
CheckFree said it now expects revenue of $216 million to $221 million in the current quarter.
