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Carreker Q1 profits fall

07 June 2006  |  1250 views  |  0 Source: Carreker

Carreker Corporation (Nasdaq: CANI), a leading provider of payments technology and consulting solutions for the financial services industry, today reported results for its first quarter ended April 30, 2006.

The Company reported revenue of $27.2 million and a net loss of $34,000, or $0.00 per share for the first quarter of 2006 as compared to revenue of $30.1 million and net income of $1.5 million, or $0.06 per diluted share for the fourth quarter of 2005.

During each of the three month periods ended April 30, 2006 and January 31, 2006, the Company recorded amortization associated with certain acquisition-related intangible assets of approximately $1.5 million. Additionally, the Company recorded stock option expense of approximately $382,000 during the three month period ended April 30, 2006. Excluding the aforementioned items, non-GAAP net income for the three months ended April 30, 2006 was $1.9 million, or $0.08 per diluted share, as compared with non-GAAP net income of $3.0 million, or $0.12 per diluted share, for the three months ended January 31, 2006.

"While our first quarter revenue and net income were down from the previous quarter, we remain confident about our full year outlook" said J.D. (Denny) Carreker, Chairman and Chief Executive Officer of Carreker Corporation. "We have experienced some notable wins with our new payments solutions and are optimistic about their future success. Our new cash and cash logistics solutions are developing traction in the marketplace and we believe this momentum will continue as the value proposition of these products is further validated. Additionally, we are encouraged by the demand for our consulting offerings, which further validates our industry recognized thought leadership position."» Download the document now 35.5 kb (Adobe Acrobat Document)

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