The Internet banking outsourcer e-Profile has put its initial public offering of common stock on hold until market conditions improve.

"The valuations of comparable IPOs are at their lowest right now, and it's not the best time to issue a new IPO," said Michael Sanchez, chief executive officer of e-Profile and chairman of its parent company, Sanchez Computer Associates. "Also there are a lot of IPOs hitting the street that are going to flood the market. We didn't want to be a part of that flood."

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