Bisys Group Inc. said it will add $4.1 million to charges it previously announced for the quarter ended Sept. 30.
The total charges in its fiscal first quarter are $7.3 million, or 26 cents a share. Company officials said the late addition related to several recent acquisitions.
Bisys provides financial outsourcing services for 5,000 banks. Its stock price dropped 16% in July when BankAmerica Corp. terminated its mutual fund distribution and administration contracts.
Sources close to Bisys said the additional charge is "immaterial." The revision is seen as an attempt to reduce future expenses in order to meet Wall Street's earnings expectations.