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Bisys Reports Fiscal 1st Quarter Growth

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NU Online News Service, Oct. 26, 2004, 2:55 p.m. EST

The Bisys Group Inc., New York, reports net income of $21.7 million on $268 in revenue for the fiscal 1st quarter 2005, up from $5.8 million in net income on $236 million in revenues for the comparable fiscal 2004 period.[@@]

The revenue growth was achieved despite the loss of a major customer of its information services group, says Russ Fradin, president and chief executive officer of the company.

Bisys provides outsourcing services to insurance companies, investment firms and banks.