Why Bottomline Technologies Dropped

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What: Shares of Bottomline Technologies (NAS: EPAY) have dropped by as much as 24% today after the company reported third-quarter earnings.

So what: Revenue rose 13% to $55.3 million, while adjusted net income came out to $7.3 million, or $0.21 per share. Those results were mostly in line with expectations, although on a GAAP basis the company lost $1.3 million, or $0.04 per share.


Now what: A major highlight of the quarter was the acquisition of Intuit's cloud-based commercial banking business, although costs related to the acquisition held back Bottomline's bottom line. The company saw acquisition-related expenses of over $4.9 million, including amortization and restructuring charges, during the quarter. CEO Rob Eberle said that Bottomline continues to enter new markets and transition to cloud-based delivery and revenue models.

Interested in more info on Bottomline Technologies? Add it to your watchlist byclicking here.

At the time this article was published Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool has a disclosure policy.
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