Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Merrill Downgrades Bottomline Technologies Shares

Bottomline Technologies (EPAY) posted a Q2 loss of $0.02 per share. Merrill Lynch downgraded its rating on shares of the corporate payment software firm to long term accumulate from buy. Merrill maintains its near term accumulate rating.

Analyst Edward McCabe says current economic conditions will continue to draw out purchase decisions for customers. Despite a sequential increase in overall backlog in Q2, deferred revenue came down and days sales outstanding (DSOs) jumped, both of which may indicate some stress in making Q3 numbers. McCabe cut his $0.01 fiscal 2001 (June) EPS estimate to a $0.19 loss and his fiscal 2002 EPS estimate of $0.69 to $0.61.

While he is encouraged by management's comments about customer interest in Bottomline's NetTransact product, McCabe believes it will still take some time for widespread adoption of the product to take off.

blog comments powered by Disqus