Bottomline reports $1.3m 3Q loss



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p>Bottomline Technologies posted a net loss of $1.3 million in its last quarter, which ended March 31 - the third quarter of its fiscal year. The loss amounted to about 4 cents a share.In the same quarter a year ago, the company reported a profit of $1 million.The Portsmouth-based financial software company would have made $7.3 million its "core income," it said, but accounting rules require the company to include equity-based compensation for its top executives (totaling $3.7 million), amortization of intangible assets ($3.7 million), acquisition-related expenses ($700,000) and restructuring ($500,000) during the quarter .While the release did not specify the particulars of the expenses, a few weeks earlier the company reported its acquisition of the Intuit's commercial banking business - announced in March - would result in $1.3 million in restructuring charges arising from severance-related benefits during the current fourth quarter.Still, Monday's release highlighted the benefits of that acquisition, because it allows the company to offer services via "the cloud.""Our expanding cloud-based solution set leaves us well positioned to drive long term growth and margin expansion." said Rob Eberle, president and CEO of Bottomline Technologies.To date, Bottomline is still in the black, with $169 million in revenue (as opposed to $135 million during the first three quarters of the previous fiscal year) and a profit of $2.9 million, or 8 cents a share, compared to the previous year-to-date profit of $5.8 million.The company ended the fiscal third quarter with $118.3 million in cash and stockholders had about $314 million in equity. - BOB SANDERS/NEW HAMPSHIRE BUSINESS REVIEW

 

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