Goldleaf CFO quits

Goldleaf CFO quits

Goldleaf Financial Solutions, a provider of Internet services to US community banks, says its chief financial officer (CFO) J Scott Craighead has resigned. The move follows the release of the vendor's second quarter results which came in below market expectations.

In a short statement Goldleaf says Craighead has resigned to "pursue opportunities in the private sector".

Scott Meyerhoff, EVP of finance and strategy will take on most of Craighead's responsibilities and duties until the company names a new chief financial officer.

Earlier this week Goldleaf - which provides Web-based ACH, cheque conversion, and remote deposit solutions as well as hosted Web sites and intranets for community financial institutions - reported improving second quarter results compared to the year ago period, but the vendor missed analysts' estimates.

Revenues for the quarter ended 30 June 2007 came in at $14.7 million,a 4.6% increase over the second quarter of 2006. The vendor posted a profit of $101,000, or one cent per share, compared to a loss of $868,000 for the second quarter last year. The firm was expected to report average earnings per share of seven cents in the quarter.

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