BISYS said revenues in its insurance segment increased on the strength of acquisitions, but organic growth in the fiscal third quarter declined less than one percent, pulled down by weakness in the commercial insurance side of the business.
The good news for the company's insurance operations was not matched by BISYS' overall performance, which recorded a 93 percent drop in net income.
The Roseland, N.J.-based investment and insurance solutions firm reported its fiscal third quarter results late last week, saying that its insurance business revenues grew 5 percent in the quarter, or more than $3 million, to $65 million.
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