Corillian Reports First Quarter 2007 Results

Business Wire, May 10, 2007

PORTLAND, Ore. -- Corillian Corp. (NASDAQ:CORI), the top provider of online banking, payment and security solutions to the financial services industry, today reported financial results for the first quarter ended March 31, 2007.

Revenues for the first quarter of 2007 were $16.5 million, compared to $14.3 million for the first quarter of 2006. Net loss for the first quarter of 2007 was $1.1 million, resulting in a diluted net loss per share of ($0.03), compared to net loss of $971,000 for the first quarter of 2006, resulting in a diluted net loss per share of ($0.02).

Net loss in the first quarter of 2007 included $658,000 of merger-related costs incurred for legal fees, proxy-related fees and fees associated with the fairness opinion contained in the special proxy filed on March 20, 2007 for the pending acquisition of Corillian by CheckFree Corporation. Net loss also included an incremental charge of $299,000 of stock-based compensation expense resulting from the suspension of the Corillian Employee Stock Purchase Plan in connection with the pending acquisition.

Non-GAAP net income, as described below, for the first quarter of 2007 was $745,000, resulting in non-GAAP diluted earnings per share of $0.02. This compares to non-GAAP net income of $15,000 in the first quarter of 2006, resulting in non-GAAP diluted earnings per share of $0.00. A reconciliation of GAAP results to non-GAAP results is provided as part of this press release.

On February 13, 2007, Corillian entered into a merger agreement pursuant to which CheckFree will acquire all of the outstanding shares of Corillian's common stock for $5.15 per share in cash. Corillian's shareholders approved the merger on April 30, 2007. Corillian previously announced that on April 12, 2007, CheckFree submitted an additional responsive document required by the pre-merger notification and report form under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act") to the Federal Trade Commission ("FTC") and Department of Justice ("DOJ"), relating to the proposed acquisition of Corillian by CheckFree. As a result, the HSR Act waiting period recommenced and is now set to expire at 11:59 p.m. on May 14, 2007, unless earlier terminated by federal antitrust authorities, or extended by a request for additional information from such authorities. Corillian continues to anticipate the merger will close in the second calendar quarter of 2007, shortly following the expiration or termination of the antitrust waiting period. However, the timing of the closing may be affected by formal or informal requests, if any, for additional information from the FTC or DOJ.

Reconciliation of GAAP results to non-GAAP Results

Corillian provides non-GAAP operating results as a supplement to its GAAP financial results. Management believes that non-GAAP results provide investors with a representation of Corillian's core operating performance that can be helpful in assessing future growth.

Corillian's non-GAAP results exclude the following charges and benefits from Corillian's statements of operations when applicable:

* Stock-based compensation

* Amortization of intangible assets

* Restructuring-related charges

* Merger-related charges

* Impairment charges

A detailed reconciliation of GAAP net loss and non-GAAP net income per share is included in the attached condensed consolidated statement of operations.

Due to the pending acquisition by CheckFree Corporation, Corillian will not be holding a conference call to discuss the quarterly results and business outlook.

About Corillian Corporation

Corillian is the market leader of online banking, payment and security solutions to the financial services industry. With 30 of the top 100 U.S. banks and 21 of the top 100 U.S. credit unions as customers, Corillian serves over 35 million online banking end users. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, as well as an extensive set of integration solutions to enable seamless connectivity between legacy systems and Web and database applications. Corillian features integrated applications across Consumer Banking, Small Business Banking, Business and Consumer Payments, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise-wide solutions, including Fraud Detection, Alerts, eStatements, and OFX. Corillian's fraud prevention solutions use Preemptive Forensics[TM] to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. Empowered by Corillian solutions, some of the world's most visionary financial institutions provide their customers with the tools to manage their finances more effectively and securely. For more information about Corillian Corporation, visit the company's web site at http://www.corillian.com.

This communication contains forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the expiration or termination of the HSR Act waiting period and anticipated closing date of the proposed acquisition. Forward-looking statements relating to expectations about future results or events are based upon information available as of today's date, and there is no assumed obligation to update any of these statements. The forward-looking statements are not guarantees of future performance, and actual results may vary materially from the results and expectations discussed. For instance, although Corillian and CheckFree have signed an agreement for a subsidiary of CheckFree to merge with and into Corillian, and the agreement has been approved by Corillian's shareholders, there is no assurance that the parties will complete the proposed merger. The proposed merger may not occur if it is blocked by a governmental agency, or if either Corillian or CheckFree fail to satisfy other conditions to closing. Other risks and uncertainties to which Corillian is subject are discussed in its reports filed with the Securities and Exchange Commission (the "SEC") under the caption Risk Factors and elsewhere, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2006 (filed March 16, 2007), as amended by Corillian's Amendment to Annual Report on Form 10-K/A (filed April 30, 2007) and its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2007 (filed March 10, 2007). One or more of these factors may have affected, and could affect Corillian's business and financial results in future periods, and could cause actual results and issues related to the merger transaction to differ materially from plans and projections. Any forward-looking statement is qualified by reference to these risks, uncertainties and factors. Forward-looking statements speak only as of the date of the documents in which they are made. These risks, uncertainties and factors are not exclusive, and Corillian undertakes no obligation to publicly update or review any forward-looking statements to reflect events or circumstances that may arise after the date of this release, except as required by law.