Checkfree Holdings Corp. reported revenues of $62.9 million for the quarter ended March 31, an increase of 20% from a year earlier.
Excluding one-time charges of $2.5 million, the electronic bill payment and presentment provider reported a profit of slightly more than $2 million, or 4 cents per diluted share. One $2.2 million charge was for Checkfree's March acquisition of the Mobius Group.
Through its E-Bill system Checkfree remains the only company providing Internet billing on more than a trial basis. The company has signed up 49 billers to use its system.
"On the surface, it was an in-line, ho-hum quarter," said Tim Klein, a research analyst at U.S. Bancorp Piper Jaffray in Minneapolis. "Beneath the covers, it was stronger than it appears, due to the strong growth in signing up billers and the pace at which they're moving to get billers on- line and adding distribution channels."