Checkfree 8K Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations | SEC 25 Apr 06

Exhibit 99.1

Media relations contact:
Judy DeRango Wicks
(678) 375-1595
jdwicks@checkfree.com

Investor relations contact:
Tina Moore
(678) 375-1278
tmoore@checkfree.com

FOR IMMEDIATE RELEASE

CheckFree Announces Fiscal 2006 Third Quarter Results
and Raises Full-Year Expectations

ATLANTA (April 25, 2006) – CheckFree Corporation (NASDAQ: CKFR) today announced third quarter GAAP (Generally Accepted Accounting Principles) revenue of $226.9 million, and underlying revenue of $227.7 million. The Company’s GAAP net income for the quarter was $37.7 million, or $0.40 per share, and underlying net income was $40.1 million, or $0.43 per share. Free cash flow was $62.3 million for the quarter, as outlined inAttachment A.

GAAP Results:Net income for the third quarter was $37.7 million, compared to net income of $15.6 million for the same quarter last year. Earnings per share were $0.40 for the third quarter of fiscal 2006, compared to earnings per share of $0.17 for the third quarter of last year. Net cash provided by operating activities was $72.5 million for the third quarter of fiscal 2006, compared to $61.6 million for the same period last year.

Underlying Results:Underlying net income for the third quarter was $40.1 million, compared to $36.0 million for the same quarter of last year. Underlying earnings per share were $0.43 for the third quarter of fiscal 2006, compared to $0.39 for the third quarter of last year. Underlying net income and earnings per share for the third quarter exclude the amortization of acquisition-related intangible assets; the SFAS 123(R) impact of options issued prior to July 1, 2004; the historical effect of discontinued operations on revenue and net income on all periods reported, resulting from a divestiture in the March 2006 quarter; and their related combined tax benefits. A reconciliation of CheckFree’s underlying results to its GAAP results is included inAttachments A and B.

“CheckFree executed well in each of our operating units during the third quarter,” said Pete Kight, Chairman and Chief Executive Officer of CheckFree. “Our Software unit completed one of its strongest contract sales quarters ever; in Electronic Commerce, transactions processed saw consistent growth month-over-month; and in CheckFree Investment Services, we had another solid quarter.”

Third Quarter Highlights

For the third quarter, the Company reported that its Software division delivered strong performance. It also reported that its Electronic Commerce division processed 293.3 million transactions, an 8 percent sequential increase over the second quarter of fiscal 2006, and delivered 46.7 million e-Bills, a sequential increase of 3 percent over the second quarter of fiscal 2006. CheckFree Investment Services reported almost 2.2 million portfolios under management, which compares to almost 1.8 million portfolios under management reported in the third quarter of fiscal 2005.

- more -

CheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations— Page 2 of 10

The Electronic Commerce division acquired PhoneCharge, Inc., for $99.8 million and the Investment Services division divested its M-Solutions business for $18.6 million, resulting in a gain on the sale of $12.8 million. The Company also repurchased over 150,000 shares of common stock for approximately $7.0 million.

Refer toAttachment Bfor details on the financial performance of CheckFree’s divisions in the third quarter of fiscal 2006, andAttachment Cfor electronic billing and payment metrics.

Financial Outlook for the Fourth Quarter and the Fiscal Year

“Based on strong year-to-date results, we have raised our expectations for the Company’s consolidated performance,” said CheckFree Chief Financial Officer David Mangum. “For the fourth quarter of fiscal 2006, we expect revenue in the range of $226 million to $231 million, GAAP earnings per share in the range of $0.30 to $0.33, and underlying earnings per share in the range of $0.39 to $0.41. For the full year, we now expect GAAP earnings per share in the range of $1.34 to $1.37, underlying earnings per share in the range of $1.72 to $1.74, and free cash flow to be about $175 million.”

The difference between GAAP and underlying earnings expectations for fiscal 2006 and the fourth quarter of fiscal 2006 is due to expected acquisition-related intangible amortization expense; the SFAS 123(R) impact of options issued prior to July 1, 2004; the historical effect of discontinued operations on revenue and net income through February 2006, resulting from a divestiture in the March 2006 quarter; and their related combined tax benefits.

Conference Call on the Internet

CheckFree will broadcast a conference call at 5:00 p.m. (ET) today to review its financial results for the third quarter ended March 31, 2006, and its expectations for the fourth quarter of fiscal 2006 and for fiscal 2006. To phone into the conference call, dial 1-877-232-1067 anytime after 4:45 p.m. (ET) and ask for the CheckFree Conference Call. CheckFree will also broadcast the call on the Internet. The live conference call will be accessible through the Investor Center section of the CheckFree corporate Web site at http://www.checkfreecorp.com. A digital replay of the call will be available on the same Web site after 7:00 p.m. (ET).

About CheckFree(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 their customers the convenience of receiving and paying their household bills online or in person through retail outlets. CheckFree Investment Services provides a broad range of investment management solutions and outsourced services to thousands of financial services organizations, which manage about $1.3 trillion in assets. CheckFree Software develops, markets and supports software applications that are used by financial institutions to process more than two-thirds of the 12 billion Automated Clearing House transactions in the United States. The division also provides operational risk management, financial messaging, corporate actions, and regulatory compliance software to more than 1,500 organizations across the globe.

- more -

CheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations— Page 3 of 10

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 forecasts and expectations of revenue for the fourth quarter of fiscal 2006, earnings per share for the fourth quarter of fiscal 2006 and fiscal 2006 as a whole, free cash flow for fiscal 2006, and sequential transaction growth and the general performance of the Company’s divisions in the fourth quarter of fiscal 2006 (paragraphs 8 and 9). 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, 2005 (filed September 2, 2005), Form 10-Q for the quarter ended September 30, 2005 (filed November 8, 2005), and Form 10-Q for the quarter ended December 31, 2005 (filed February 8, 2006). 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.

# # #

CheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations— Page 4 of 10

CHECKFREE CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Operations
(Unaudited)
(In thousands, except per share data)


	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2006			2005			2006			2005
Revenues:
Processing and servicing	$	192,786		$	167,645		$	563,143		$	486,787
License fees		9,479			5,458			24,859			18,987
Maintenance fees		11,078			7,959			30,707			22,751
Professional fees		13,584			8,138			35,755			20,303

Total revenues		226,927			189,200			654,464			548,828

Expenses:
Cost of processing, servicing and support		91,351			72,660			253,026			220,539
Research and development		26,038			20,139			72,865			58,448
Sales and marketing		22,107			16,590			61,272			46,615
General and administrative		16,219			15,016			48,777			42,573
Depreciation and amortization		22,349			43,377			77,749			130,589

Total expenses		178,064			167,782			513,689			498,764


Income from continuing operations before other income and expenses		48,863			21,418			140,775			50,064
Equity in net loss of joint venture		(973	)		(823	)		(2,447	)		(2,170	)
Interest, net		3,011			2,143			8,383			5,328
Gain on investments		—			592			—			592


Income from continuing operations before income taxes		50,901			23,330			146,711			53,814

Income tax expense		18,720			7,976			55,180			19,660


Income from continuing operations		32,181			15,354			91,531			34,154

Earnings from discontinued operations before income taxes (including gain on disposal of $12,821 in FY’2006)		13,056			388			14,311			1,097

Income tax expense on discontinued operations		7,581			136			8,064			395


Income from discontinued operations		5,475			252			6,247			702


Net income	$	37,656		$	15,606		$	97,778		$	34,856


Basic income per share:
Continuing operations	$	0.35		$	0.17		$	1.01		$	0.37
Discontinued operations		0.06			0.00			0.07			0.01

Total basic income per share	$	0.41		$	0.17		$	1.08		$	0.38



Weighted average number of shares		91,257			90,864			90,883			90,614


Diluted income per share:
Continuing operations	$	0.34		$	0.17		$	0.98		$	0.37
Discontinued operations		0.06			0.00			0.07			0.01

Total diluted income per share	$	0.40		$	0.17		$	1.05		$	0.38



Weighted average number of shares		94,199			93,052			93,533			92,374

CheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations— Page 5 of 10

CHECKFREE CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheets
(Unaudited)
(In thousands)


	March 31,		June 30,
	2006		2005
Current assets:
Cash, cash equivalents and investments	$	313,804	$	298,077
Settlement assets		107,881		73,675
Accounts receivable, net		131,675		127,933
Prepaid expenses and other assets		29,095		26,258	��
Deferred income taxes		11,599		10,407

Total current assets		594,054		536,350

Property and equipment, net		96,904		89,273
Capitalized software and intangible assets, net		917,490		840,732
Investments and restricted cash		78,032		62,996
Other noncurrent assets		5,627		4,600
Deferred income taxes		45,153		35,648
Investment in joint venture		1,003		317

Total assets	$	1,738,263	$	1,569,916


Current liabilities:
Accounts payable, accrued liabilities and other	$	84,334	$	84,109
Settlement obligations		105,721		73,919
Deferred revenue		43,075		40,793

Total current liabilities		233,130		198,821

Accrued rent and other		3,631		4,324
Deferred income taxes		2,909		4,967
Capital lease and long-term obligations, less current portion		25,376		25,389

Total stockholders’ equity		1,473,217		1,336,415

Total liabilities and stockholders’ equity	$	1,738,263	$	1,569,916

CheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations— Page 6 of 10

Attachment A

Calculation of Free Cash Flow
(Unaudited)
(In thousands)


	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2006			2005			2006			2005

Net cash provided by operating activities	$	72,539		$	61,564		$	172,801		$	159,099
Excluding: Net change in settlement accounts		(68	)		(1,498	)		2,194			(70	)
Less: Capital expenditures		(10,175	)		(10,214	)		(33,817	)		(24,331	)

Free cash flow	$	62,296		$	49,852		$	141,178		$	134,698


Additional Information:
Net cash used in investing activities	$	(79,422	)	$	(152,820	)	$	(87,487	)	$	(192,840	)


Net cash provided by financing activities	$	4,277		$	5,362		$	17,591		$	9,597

Use of Non-GAAP Financial Information

The Company supplements its reporting of cash flow information determined in accordance with GAAP by using “free cash flow” in this earnings release as a measure to evaluate its liquidity. The Company defines free cash flow as GAAP net cash provided by operating activities, exclusive of the net change in settlement accounts and less capital expenditures. The Company believes free cash flow provides useful information to management and investors in understanding its financial results and assessing its prospects for future performance. CheckFree also uses free cash flow as a factor in determining long-term incentive compensation for senior management.

The Company excludes the net change in settlement accounts from free cash flow because it believes this facilitates management’s and investors’ ability to analyze operating cash flow trends. In connection with its walk-in payment business, the Company’s balance sheet reflects settlement assets and settlement obligations. The settlement assets represent payment receipts in transit to the Company from agents, and the settlement obligations represent scheduled but unpaid payments due to billers. Balances in settlement accounts fluctuate daily based on deposit timing and payment transaction volume. These timing differences are not reflective of the Company’s liquidity, and thus, CheckFree excludes the net change in settlement accounts from free cash flow.

As a technology company, CheckFree makes significant capital expenditures in order to update its technology and to remain competitive. The Company’s free cash flow reflects the amount of cash it generated that remains, after it has met those operational needs, for the evaluation and execution of strategic initiatives such as acquisitions, stock and/or debt repurchases and other investing and financing activities, including servicing additional debt obligations.

Free cash flow does not solely represent residual cash flow available for discretionary expenditures, as certain of CheckFree’s non-discretionary obligations are also funded out of free cash flow. These consist primarily of payments on capital leases and other long-term commitments, if any, as reflected in the table entitled “Contractual Obligations” in the “Liquidity and Capital Resources” section of “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained in CheckFree’s Annual Report on Form 10-K for the fiscal year ended June 30, 2005, which was filed with the Securities and Exchange Commission on September 2, 2005.

The Company’s free cash flow should be considered in addition to, and not as a substitute for, net cash provided by operating activities or any other amount determined in accordance with GAAP. Further, CheckFree’s measure of free cash flow may not be comparable to similarly titled measures reported by other companies.

CheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations— Page 7 of 10

Attachment A (continued)

Reconciliation of GAAP Net Income to Underlying Net Income and Earnings Per Share
(Unaudited)
(In thousands, except per share data)


	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2006			2005			2006			2005

Total revenues per GAAP	$	226,927		$	189,200		$	654,464		$	548,828
Impact of discontinued operations		797			2,020			4,957			5,981

Underlying total revenues	$	227,724		$	191,220		$	659,421		$	554,809


Net income per GAAP	$	37,656		$	15,606		$	97,778		$	34,856
Gain from discontinued operations, net of taxes		(5,376	)		—			(5,597	)		—
Amortization of acquisition-related intangible assets		11,254			33,131			46,451			99,557
SFAS 123(R) — Stock options issued before July 1, 2004		777			—			3,375			—
Gain on investments		—			(592	)		—			(592	)
Tax benefit of underlying adjustments (excluding discontinued operations)		(4,175	)		(12,137	)		(17,705	)		(37,294	)

Underlying net income	$	40,136		$	36,008		$	124,302		$	96,527


GAAP and underlying basic weighted average shares outstanding		91,257			90,864			90,883			90,614
GAAP and underlying impact of dilutive options and warrants		2,942			2,188			2,650			1,760
GAAP and underlying diluted weighted average shares outstanding		94,199			93,052			93,533			92,374

GAAP total basic earnings per share	$	0.41		$	0.17		$	1.08		$	0.38
GAAP total diluted earnings per share	$	0.40		$	0.17		$	1.05		$	0.38
Underlying total basic earnings per share	$	0.44		$	0.40		$	1.37		$	1.07
Underlying total diluted earnings per share	$	0.43		$	0.39		$	1.33		$	1.04

Use of Non-GAAP Financial Information

CheckFree supplements its reporting of total revenues, income (loss) from operations, net income (loss) and earnings (loss) per share information determined in accordance with GAAP by using “underlying revenue,” “underlying income (loss) from operations,” “underlying net income (loss)” and “underlying earnings (loss) per share” in this earnings release. Management believes that certain non-cash adjustments to revenues or expenses enhance the Company’s evaluation of its performance, and are not pertinent to day to day operational decision making in the business. Therefore, CheckFree excludes these items from GAAP revenue, income (loss) from operations, net income (loss) and earnings (loss) per share in calculating underlying revenue, underlying income (loss) from operations, underlying net income (loss) and underlying earnings (loss) per share.

Examples of such non-cash charges may include, but not be limited to, intangible asset amortization expense and in-process research and development costs associated with acquisitions, charges associated with the impairment of intangible assets, charges resulting from warrants issued to third parties, and charges associated with reorganization activities, all offset by the cumulative tax impact of these charges. CheckFree excludes these items in order to more clearly focus on the factors it believes are pertinent to the daily management of the Company’s operations, and management uses underlying results to evaluate the impact of operational business decisions. CheckFree regularly reports underlying results to its Chairman and Chief Executive Officer, the Company’s chief operating decision maker, who uses this information in allocating resources to CheckFree’s various business units. Additionally, as CheckFree rewards its management for their decisions that increase revenues and decrease controllable costs, the Company uses underlying revenues and underlying income (loss) from operations as factors in determining short-term incentive compensation for management, and uses underlying revenues, underlying net income (loss) and underlying earnings (loss) per share as factors in determining long-term incentive compensation for management.

Because CheckFree utilizes underlying financial results in the management of its business and to determine incentive compensation for management, the Company believes this supplemental information is useful to investors for their independent evaluation and understanding of the performance of the Company’s management and its core business performance.

CheckFree’s underlying revenues, underlying income (loss) from operations, underlying net income (loss) and underlying earnings (loss) per share should be considered in addition to, and not as a substitute for, revenues, income (loss) from operations, net income (loss) or earnings (loss) per share or any other amount determined in accordance with GAAP. CheckFree’s measures of underlying revenues, underlying income (loss) from operations, underlying net income (loss) and underlying earnings (loss) per share reflect management’s judgment of particular items, and may not be comparable to similarly titled measures reported by other companies.

CheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations— Page 8 of 10

Attachment A (continued)

CHECKFREE CORPORATION AND SUBSIDIARIES
Supplemental Underlying Consolidated Condensed Statements of Operations
(Unaudited)
(In thousands, except per share data)


	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2006			2005			2006			2005
Revenues:
Processing and servicing	$	193,539		$	169,601		$	567,863		$	492,631
License fees		9,479			5,458			24,859			18,987
Maintenance fees		11,089			7,967			30,733			22,778
Professional fees		13,617			8,194			35,966			20,413

Total revenues		227,724			191,220			659,421			554,809

Expenses:
Cost of processing, servicing and support		91,186			72,745			252,388			220,795
Research and development		26,046			20,769			73,236			60,321
Sales and marketing		22,044			16,838			61,161			47,346
General and administrative		16,144			15,469			48,758			43,934
Depreciation and amortization		11,175			10,462			31,787			31,696

Total expenses		166,595			136,283			467,330			404,092


Income from operations		61,129			54,937			192,091			150,717
Equity in net loss of joint venture		(973	)		(823	)		(2,447	)		(2,170	)
Interest, net		3,011			2,143			8,383			5,329


Income before income taxes		63,167			56,257			198,027			153,876

Income tax expense		23,031			20,249			73,725			57,349



Net income	$	40,136		$	36,008		$	124,302		$	96,527


Basic income per share:
Net income	$	0.44		$	0.40		$	1.37		$	1.07


Weighted average number of shares		91,257			90,864			90,883			90,614


Diluted income per share:
Net income	$	0.43		$	0.39		$	1.33		$	1.04


Weighted average number of shares		94,199			93,052			93,533			92,374

CheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations— Page 9 of 10

Attachment B

Reconciliation of GAAP Results to Underlying Results by Segment
(Unaudited)
(In thousands)


	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2006			2005			2006			2005
Electronic Commerce:
Total revenues — GAAP and underlying	$	169,438		$	147,581		$	496,187		$	427,896


Income from continuing operations — GAAP	$	50,066		$	21,475		$	149,796		$	54,183
Amortization of acquisition-related intangible assets		9,110			32,559			40,037			97,681
SFAS 123(R) — Stock options issued before July 1, 2004⁽¹⁾		563			—			2,449			—

Underlying income from continuing operations	$	59,739		$	54,034		$	192,282		$	151,864


Investment Services:
Total revenues — GAAP	$	27,833		$	22,023		$	78,542		$	64,877
Impact of discontinued operations⁽²⁾		797			2,020			4,957			5,981

Total revenues — Underlying	$	28,630		$	24,043		$	83,499		$	70,858


Income from continuing operations — GAAP	$	3,323		$	4,298		$	10,290		$	11,472
Amortization of acquisition-related intangible assets		547			151			1,508			453
Impact of discontinued operations⁽²⁾		235			388			1,490			1,096
SFAS 123(R) — Stock options issued before July 1, 2004⁽¹⁾		80			—			347			—

Underlying income from continuing operations	$	4,185		$	4,837		$	13,635		$	13,021


Software:
Total revenues — GAAP and underlying	$	29,656		$	19,596		$	79,735		$	56,055


Income from continuing operations — GAAP	$	5,864		$	5,646		$	10,913		$	11,946
Amortization of acquisition-related intangible assets		1,597			421			4,906			1,423
SFAS 123(R) — Stock options issued before July 1, 2004⁽¹⁾		35			—			150			—

Underlying income from continuing operations	$	7,496		$	6,067		$	15,969		$	13,369


Corporate:
Loss from continuing operations — GAAP	$	(10,390	)	$	(10,001	)	$	(30,224	)	$	(27,537	)
SFAS 123(R) — Stock options issued before July 1, 2004⁽¹⁾		99			—			429			—

Underlying loss from continuing operations	$	(10,291	)	$	(10,001	)	$	(29,795	)	$	(27,537	)


(1)		At the beginning of fiscal 2005, we implemented a new long-term incentive compensation philosophy, which significantly reduced overall participation and focused on restricted stock with limited stock options. As a result, we recorded the cost of restricted stock throughout fiscal 2005 in both underlying and GAAP results. In fiscal 2006, we have adopted SFAS 123(R), and are consequently recording all long-term incentive grants, both restricted stock and options, as an expense to both underlying and GAAP results. The adjustment from GAAP to underlying operating results in the table above reflects the SFAS 123(R) charge associated with options granted prior to July 1, 2004 under our previous compensation philosophy, which were originally accounted for utilizing APB 25.

(2)		In the quarter ended March 31, 2006, the divestiture of our M-Solutions business, a component of our Investment Services segment, created a unique situation for our presentation of underlying results versus GAAP results. SFAS 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” requires us to report the results of operations from the disposed business, including any gain or loss on the sale, as an income statement item separately captioned “earnings from discontinued operations” on our GAAP basis unaudited condensed Statements of Operations. This treatment is required for all periods presented, not just the period in which the sale took place. For underlying purposes, in contrast, we have excluded the gain on disposition in the current periods and we are including the results of M-Solutions in our underlying results for the time period that we owned the business during the current quarter and for all of the prior periods presented.

CheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations— Page 10 of 10

Attachment C

Electronic Billing and Payment Metrics
(in millions, except revenue/transaction and percentages)


	Quarter Ended
	3/31/2006			12/31/2005			9/30/2005			3/31/2005			12/31/2004			9/30/2004
Transactions
Full Service
Revenue	$	109.4		$	116.0		$	118.5		$	106.4		$	102.4		$	99.1
Active Subscribers⁽¹⁾		9.7			9.0			8.8			7.4			6.9			6.4
Transactions		206.7			189.7			180.1			153.6			142.9			133.5
Revenue/Transaction	$	0.53		$	0.61		$	0.66		$	0.69		$	0.72		$	0.74

Payment Services
Revenue	$	47.8		$	36.1		$	35.4		$	32.4		$	31.3		$	30.5
Transactions		86.6			81.0			85.9			80.8			76.5			72.3
Revenue/Transaction	$	0.55		$	0.45		$	0.41		$	0.40		$	0.41		$	0.42

Total		293.3			270.7			266.0			234.4			219.4			205.8
Sequential Quarterly Growth		8	%		2	%		9	%		7	%		7	%		25	%

Other Revenue⁽²⁾	$	12.2		$	11.2		$	9.6		$	8.8		$	8.4		$	8.6

e-Bill Delivery
Electronic bills distributed		46.7			45.2			42.7			36.8			32.8			29.6
Quarterly sequential growth		3	%		6	%		4	%		12	%		11	%		14	%

Electronic Rate
Electronic payment rate		84	%		83	%		83	%		83	%		83	%		83	%


⁽¹⁾		“Active” refers to subscribers who have viewed or paid a bill in the last 90 days at a Consumer Service Provider that outsources essentially all of its electronic billing and payment (EBP) functions to CheckFree.

⁽²⁾		Other revenue includes Health and Fitness, Professional Services and Stored Value Products.

Checkfree Inactive 8-KCheckFree Announces Fiscal 2006 Third Quarter Results and Raises Full-Year Expectations