CheckFree Comments on Recent Report
April 11 2007 - 5:33PM
PR Newswire (US)
ATLANTA, April 11 /PRNewswire-FirstCall/ -- In response to a recent
report regarding one of its largest customers, CheckFree
Corporation (NASDAQ:CKFR) today issued the following statement:
"For some time, we have discussed with investors the process of
very large bank customers exploring the possibility of internally
performing portions of the outsourced billing and payment services
that we provide to them. In-house solutions have always been and
will continue to be an option for our customers and a competitive
factor facing our business. "We have had discussions with a large
customer regarding the possibility of pursuing an in-house approach
for portions of our services. "There have been no changes to any
material customer contracts. If there are any changes that require
disclosure, we will publicly disclose such information at that
time." 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 the
convenience of receiving and paying household bills online, via
phone or in person through retail outlets. CheckFree Investment
Services provides a broad range of investment management solutions
and outsourced services to hundreds of financial services
organizations, which manage about $1.7 trillion in assets.
CheckFree Software develops, markets and supports payment
processing solutions that are used by financial institutions to
process more than two-thirds of the 14 billion Automated Clearing
House transactions in the United States, and supports
reconciliation, exception management, risk management, transaction
process management, corporate actions processing, and compliance
within thousands of organizations worldwide. Certain of the
Company'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 the possibility of our customers' pursuing
in-house solutions for a portion of our services (paragraphs 2, 3
and 4). Forward-looking statements involve risks and uncertainties,
including without limitation, the various risks inherent in the
Company's business, and other risks and uncertainties detailed from
time to time in the Company's periodic reports filed with the
Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K for the year ended June 30, 2006 (filed
September 8, 2006), Form 10-Q for the quarter ended September 30,
2006 (filed November 8, 2006), and Form 10-Q for the quarter ended
December 31, 2006 (filed February 8, 2007). One or more of these
factors have affected, and could in the future affect the Company'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 the Company, or any other person, that the
objectives and plans of the Company will be achieved. All
forward-looking statements made in this press release are based on
information presently available to management, and the Company
assumes no obligation to update any forward-looking statements.
DATASOURCE: CheckFree Corporation CONTACT: Media relations, Judy
DeRango Wicks, +1-678-375-1595, , or Investor relations, Tina
Moore, +1-678-375-1278, , both of CheckFree Corporation Web site:
http://www.checkfreecorp.com/
Copyright
Checkfree Corp (MM) (NASDAQ:CKFR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Checkfree Corp (MM) (NASDAQ:CKFR)
Historical Stock Chart
From Sep 2023 to Sep 2024