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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________
SCHEDULE 13G
(Amendment No. 1)
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
CHECKFREE CORPORATION
-----------------------------------------
(Name of Issuer)
Common Stock $.01 par value
-----------------------------------------
(Title of Class of Securities)
162812-10-1
--------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [X].
(Continued of following page(s))
Page 1 of 5 Pages
SCHEDULE 13G
CUSIP No. Page 2 of 5 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GINTEL ASSET MANAGEMENT, INC.
IRS #06-0871969
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
CONNECTICUT
- --------------------------------------------------------------------------------
5) SOLE VOTING POWER
2,073,100 shs
NUMBER -------------------------------------------------
OF 6) SHARED VOTING POWER
SHARES Not Applicable
BENEFICIALLY -------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH GINTEL ASSET MGT., INC. 2,272,100 shs
REPORTING -------------------------------------------------
PERSON 8) SHARED DISPOSITIVE POWER
WITH Not Applicable
- --------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,272,100 Shares of common stock, par value $.01
- --------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES * [ ]
- --------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5%
- --------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON
I.A.
- --------------------------------------------------------------------------------
Schedule 13G
ITEM 1(A). NAME OF ISSUER: CHECKFREE CORPORATION
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
4411 East Jones Bridge Road
Norcross, GA 30092
ITEM 2(A). NAME OF PERSON FILING:
GINTEL ASSET MANAGEMENT, INC.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
6 Greenwich Office Park
Greenwich, CT 06831
ITEM 2(C). CITIZENSHIP: CONNECTICUT CORPORATION
ITEM 2(D). TITLE OF CLASS OF SECURITIES: Common Stock $.01 par value
ITEM 2(E). CUSIP NUMBER: 162812-10-1
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b),
CHECK WHETHER THE PERSON FILING IS A:
(E) [X] Investment Advisor registered under Section 203 of the
Investment Advisors Act of 1940.
ITEM 4. OWNERSHIP. Robert M. Gintel, Chief Executive Officer and 100%
shareholder of Gintel Asset Management, Inc., is also controlling partner of
Gintel & Co. Limited Partnership and Gintel-Ray Ltd. Partnership. In addition,
Gintel Asset Management, Inc. has discretionary power over the accounts for
which it acts as investment advisor. As a result, Gintel Asset Management,
Inc. may be deemed to be the beneficial owner of the shares owned by these
other entities.
(a) Amount beneficially owned: 2,272,100 shares
(b) Percent of Class: 5.5%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 2,073,100
(ii) Shared power to vote or to direct the vote: -0-
(iii) Sole power to dispose or to direct the
disposition of: 2,272,100
(iv) Shared power to dispose or to direct the
disposition of : -0-
Page 3 of 5 Pages
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. N/A
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. N/A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP. N/A
ITEM 10. CERTIFICATION: By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in any
transaction having such purpose or effect.
Page 4 of 5 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
GINTEL ASSET MANAGEMENT, INC.
By: /s/ Stephen G. Stavrides
---------------------------
Stephen G. Stavrides
President
Date: February 12, 1997
Page 5 of 5 Pages