BISYS announced the resignation of its current chief financial officer, and his replacement, and discussed the company's financial picture without releasing it's quarterly financial report as it works on restating past results.
New York-based BISYS, which provides information services for the insurance industry and is a major property-casualty insurance wholesaler, among its other financial services interests, released a statement saying it is still working to complete its financial restatement.
The company said it expects the restatement will reduce revenues, income and earnings prior to 2004. The restatement will also produce modest increases in 2004 and the first two fiscal quarters of 2005.
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