Reuters: Global Markets: Bottomline Technologies posts loss; shares plunge

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Bottomline Technologies posts loss; shares plunge May 7th 2012, 15:36 Mon May 7, 2012 11:36am EDT (Reuters) - Bottomline Technologies Inc (EPAY.O), which provides collaborative payment, invoice and document automation products, posted a quarterly loss partly due to acquisition-related expenses, sending its shares down as much as 24 percent on Monday. The company bought tax preparation software maker Intuit Inc's (INTU.O) cloud-based commercial banking business during the quarter. For the third quarter, Bottomline reported a net loss of $1.3 million, or 4 cents per share, compared with a profit of $1.1 million, or 3 cents per share, a year ago. Excluding items, the company, which counts Bank of America Merrill Lynch (BAC.N), Deere & Co (DE.N) and Johnson & Johnson (JNJ.N) among its customers, earned 21 cents per share. Revenue rose 13 percent to $55.3 million. Shares of the company fell 20 percent in heavy trading to $18.05 on Monday on the Nasdaq.

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