Bottomline results top Street

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SAN FRANCISCO (AP) — Bottomline Technologies Inc. on Thursday reported stronger-than-expected quarterly results Thursday, citing demand for its financial software.

Net income was $30.1 million, or 87 cents per share, for the fiscal fourth quarter, which ended June 30. In the same period last year, it was $1.1 million, or 4 cents per share.

The Portsmouth, N.H.-based company said the latest period included a $27.4 million tax benefit. Excluding that and certain other expenses, the company earned 29 cents per share, ahead of the 25 cents per share that analysts polled by FactSet had expected on that basis.

Revenue increased 31 percent to $54.2 million, ahead of the $52.2 million analysts expected.

Shares rose a penny, or 0.1 percent, to $20.50 in extended trading, after the results were reported. They had risen $1.39, or 7.3 percent, to finish the regular trading session at $20.49.