Carreker moves into profit in Q2

Source: Carreker

Carreker Corporation (Nasdaq: CANI), a leading provider of payments technology and consulting solutions for the financial services industry, today reported financial results for its second quarter ended July 31, 2006.

The Company reported revenue of $28.8 million and net income of $961,000, or $.04 per diluted share for the second quarter of 2006 compared to revenue of $27.2 million and a net loss of $34,000, or $0.00 per share for the first quarter of 2006.

During each of the three-month periods ended July 31, 2006 and April 30, 2006, the Company recorded amortization associated with certain acquisition- related intangible assets of approximately $1.4 million and $1.5 million, respectively. Additionally, the Company recorded equity-based compensation expense of approximately $627,000 and $622,000 during the three-month periods ended July 31, 2006 and April 30, 2006, respectively. Excluding the aforementioned non-cash expense items, non-GAAP net income for the three months ended July 31, 2006 was $3.0 million, or $0.12 per diluted share compared with non-GAAP net income of $2.1 million, or $0.09 per diluted share, for the three months ended April 30, 2006.

"We are pleased with our second quarter progress relative to our 2006 goals and continue to remain confident in our outlook for the full year," said J.D. (Denny) Carreker, Chairman and Chief Executive Officer of Carreker Corporation. "The market acceptance rate for some of our new solutions has been very encouraging and we are further encouraged by a healthy demand for our consulting offerings. We had several notable wins during the second quarter including our first float outsourcing customer, two Check 21 related tier upgrades and key beta customers in our cash and logistics business. We are cautiously optimistic about the sales momentum being established within each of our primary business units."

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