Shares of financial systems firms generally rose last week, aided by a robust stock market rally on Friday.
The Dow Jones industrial average surged more than 60 points on Friday after the Department of Labor said the civilian unemployment rate unexpectedly rose in January three-tenths of a percentage point to 5.7% - most economists had predicted it would remain unchanged. The employment figures buoyed investors' hopes that the recent spate of interest rate hikes was coming to an end.
In news coming from the bank technology sector, the Bisys Group Inc., a systems outsourcer and investment servicer, reported last week it had recorded higher profits for its second quarter - ended Dec. 31 - of fiscal 1995.
The Little Falls, N.J.-based firm reported net earnings of $3.8 million, or 24 cents per share, compared to a net earnings of $3.3 million, or 21 cents per share, in the comparable fiscal 1994 quarter. Revenues increased approximately 12%, to $39.6 million.
Bisys officials said revenues for the last six months of 1994 rose 27% over the year-earlier period, to $77.1 million.
Diebold Inc.'s board of directors last week declared a first-quarter cash dividend of $.24 per share, an increase of two cents over the 1994 quarterly dividend. The dividend on the automated teller machine manufacturer's common shares will be payable March 10 to shareholders of record at the close of business on February 17.
Another maker of electronic funds transfer hardware, Verifone Inc., announced last week that its board of directors had approved the repurchase of up to 750,000 shares of outstanding common stock in open market transactions through the rest of this year.
The purpose of the buyback will be to acquire shares for issuance under the company's stock option and employee stock purchase programs, officials said. The maximum amount of cash authorized for the 1995 repurchase is $15 million, they added.
As of Dec. 31, the Redwood City, Calif.-based company had approximately 23.7 million shares of common stock outstanding.
Last November, Verifone completed the buyback of 451,000 shares, officials said.
Interlinq Software Corp., Kirkland, Wash., said last week that Robert Delf had resigned as chief executive "in order to pursue other opportunities," but would remain as chairman.
He will be replaced as CEO on an interim basis by chief financial officer Steve Yount, officials at the mortgage systems developer said.