BISYS reported net income of $33.8 million, or 28 cents a diluted share, for its fiscal fourth quarter ended June 30, and a total of $111.8 million, or 92 cents a diluted share, for its 2003 fiscal year. These earnings represented 9% and 3.5% declines, respectively, from the year-ago periods.
Total revenue, however, was up for both periods, rising 6% in the fourth quarter to $253.2 million and 11% for fiscal 2003 to $958.4 million. BISYS also reported it took $7.5 million in restructuring charges in fiscal 2003. Excluding those restructuring charges, BISYS pro forma net income for fiscal 2003 would have been $119.4 million, on par with pro forma net income of $119.8 million for fiscal 2002.