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BISYS Reports Steady 1st Quarter Net Income

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NU Online News Service, April 22, 2003, 5:18 p.m. EDT – The BISYS Group Inc., New York, is reporting $33 million in net income for the first quarter on $245 million in revenue, compared with $33 million in net income on $221 million in revenue for the first quarter of 2002.

The company sells support services to financial services companies.

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The company’s Insurance and Education Services unit generated $24 million in operating income for the latest quarter on $64 million in revenue, compared with $27 million in operating income on $57 million in revenue for the first quarter of 2002.