Bisys to File Numbers by June

The company says earnings should rise on a continuing operating basis.
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Bisys Group


said it expects to complete its fiscal 2006 quarterly financial reports by the end of June.

The Roseland, N.J.-based company expects this year's operating earnings from continuing operations to rise from a year earlier. Overall operating revenue is expected to decline due to the divestiture of the information services business.

The company said it expects lower margin in the investment service business and higher margin in the insurance services business, with net income of the two marginally down.

The company expects to improve performance in the fund and retirement services businesses as it moves into fiscal 2007, and to continue to grow its alternative investment services and insurance services businesses. Litigation and corporate expenses are expected to remain high until the SEC investigations and security litigation matters are resolved.

"We are pleased to have the restatement and divestiture completed, which allows us to focus as a team on improving and growing our businesses. We are working hard to make sure that the people, processes, and technology are properly aligned to provide accurate and timely financial reporting," the company said.

Shares fell a nickel to $14.75.

This story was created through a joint venture between and IRIS.