Bisys Group Inc.'s net income in its fiscal second quarter, which ended Dec. 31, rose 8% from a year earlier, to $21.9 million, or 18 cents a share.
Revenue grew 6%, to $276.3 million, the New York financial services outsourcer said Wednesday.
Excluding investment gains and restructuring charges, its pro forma net income was 17 cents a share, a penny short of analysts' average estimate.
Russell P. Fradin, Bisys' president and chief executive, said in a press release that the results were in line with his company's expectations.
Revenue declined 5% in the information services group, which provides outsourced core processing to midsize and community banks. He attributed that decline to the loss of a customer that was acquired by another bank.
Revenue grew about 8% in its investment services group, which provides mutual fund processing, and about 9% in insurance services.
