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BISYS Reports Record Results For Fiscal Fourth Quarter

The BISYS Group reported net income for its fiscal fourth quarter ending June 30 of $37.3 million, or 30 cents a share, a 30% increase from net income of $28.7 million, or 23 cents a share, in the fourth quarter of last year. Revenue for the quarter was $238.7, an increase of 23% from $194.7 in the period a year earlier.

For BISYS' full 2002 fiscal year, the company reported net income of $119.8 million, or 97 cents a share, up 25% from net income of $95.8 million, or 79 cents a share, in fiscal 2001.

This is the 13th consecutive year that BISYS has increased its revenue and earnings, said Lynn Mangum chairman and chief executive officer of the firm. "We are extremely pleased with the strategic and financial results of our fourth quarter and fiscal year 2002," Mangum said.