Service revenue from continuing operations grew 3 percent from the second quarter of 2006, led by Insurance Services Segment growth of 12 percent.
- Net Free Cash Flow more than tripled from the second quarter of 2006 to $61.7 million for the quarter.
- Repurchased 1.2 million shares during the quarter, bringing total shares acquired since inception of the program to approximately 20 percent of outstanding shares.
ALPHARETTA, Ga., July 25 /PRNewswire-FirstCall/ -- For the second quarter of 2007, ChoicePoint Inc. (NYSE: CPS - News) reported a 3.3 percent increase in service revenue from continuing operations to $264.0 million, compared to $255.5 million for the second quarter of 2006. Total revenue from continuing operations was $269.4 million in the second quarter of 2007, compared to $260.6 million for the second quarter of 2006. Diluted earnings per share from continuing operations ("EPS") for the second quarter of 2007 was $0.43, compared to $0.40 for the second quarter of 2006. Excluding the other operating charges detailed in the table below, EPS would have been $0.44 for the second quarter of 2007, compared to $0.43 in the second quarter of 2006.
Thursday, July 26, 2007
Sunday, July 22, 2007
BISYS(R) Declares Special Dividend
The Board of Directors of The BISYS Group, Inc. (NYSE:BSG - News; "BISYS"), a leading provider of outsourcing solutions for the financial services industry, has declared a one-time, special dividend of $0.15 per share in cash on all issued and outstanding common stock, payable promptly after closing of the merger pursuant to the Agreement and Plan of Merger, dated as of May 1, 2007, by and among Citibank N.A., Buckeye Acquisition Sub, Inc. and BISYS. The special dividend is payable to stockholders of record on the day prior to the closing of the merger, which is currently expected to occur on August 1, 2007. Payment of the special dividend is conditioned upon closing of the merger on August 1, 2007. If the closing of the merger occurs after August 1, 2007, BISYS' Board of Directors (or a committee of the Board of Directors) intends to take action to modify the record date for payment of the special dividend.
ADVERTISEMENT
Upon closing of the merger, which is subject to the satisfaction of certain conditions, including approval by the BISYS stockholders at the special meeting of stockholders scheduled for July 27, 2007, the BISYS stockholders will receive $11.85 per share in cash as merger consideration in addition to the special dividend of $0.15 per share.
The BISYS Group, Inc. (NYSE: BSG - News) provides outsourcing solutions that enable investment firms, insurance companies, and banks to more efficiently serve their customers, grow their businesses, and respond to evolving regulatory requirements. Its Investment Services group provides administration and distribution services for mutual funds, hedge funds, private equity funds, retirement plans, separately managed accounts and other investment products. Through its Insurance Services group, BISYS is the nation's largest independent wholesale distributor of life insurance and a leading independent wholesale distributor of commercial property/casualty insurance, long-term care, disability, and annuity products. Additional information is available at www.bisys.com.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
This release may be deemed to be soliciting material in respect of the proposed merger of BISYS and Citibank N.A. In connection with the proposed merger and required stockholder approval, on June 26, 2007, BISYS filed with the Securities and Exchange Commission (the "SEC") a proxy statement. The proxy statement was mailed to BISYS stockholders and contains information about BISYS, the proposed merger and related matters. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY, AS IT CONTAINS IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING A DECISION ABOUT THE MERGER. In addition to receiving the proxy statement from BISYS by mail, stockholders are be able to obtain the proxy statement, as well as other filings containing information about BISYS, without charge, from the SEC's website (http://www.sec.gov) or, without charge, from BISYS at www.bisys.com.
PARTICIPANTS IN SOLICITATION
BISYS and its directors and executive officers and certain other members of management may be deemed to be participants in the solicitation of proxies in connection with the merger. Information concerning BISYS' participants is set forth in BISYS' Annual Report on Form 10-K for the fiscal year ended June 30, 2006, which was filed with the SEC on December 18, 2006, and in the proxy statement relating to the merger dated June 26, 2007 which was filed with the SEC on June 26, 2007. BISYS' press releases and other Company information are available at BISYS' website located at www.bisys.com.
Except for the historical information contained herein, the matters discussed in the press release are forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current reasonable expectations and are subject to certain assumptions, risks, uncertainties and changes in circumstances due to future events as well as changes in economic, competitive, regulatory and/or technological factors affecting BISYS' business, including, without limitation, the impact of the Company's proposed merger with Citibank N.A, and the outcome of pending and future litigation involving the Company. More detailed information about risk factors that could cause actual results to differ materially are noted in BISYS' periodic filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended June 30, 2006 and quarterly report on Form 10-Q for the quarter ended March 31, 2007. These documents can be accessed on BISYS' website at www.bisys.com under the "Investor Relations" tab. Forward-looking statements are only predictions, not guarantees of performance, and speak only as of the date they are made. BISYS disclaims any obligation to update or amend these statements in light of new information, future events or otherwise.
ADVERTISEMENT
Upon closing of the merger, which is subject to the satisfaction of certain conditions, including approval by the BISYS stockholders at the special meeting of stockholders scheduled for July 27, 2007, the BISYS stockholders will receive $11.85 per share in cash as merger consideration in addition to the special dividend of $0.15 per share.
The BISYS Group, Inc. (NYSE: BSG - News) provides outsourcing solutions that enable investment firms, insurance companies, and banks to more efficiently serve their customers, grow their businesses, and respond to evolving regulatory requirements. Its Investment Services group provides administration and distribution services for mutual funds, hedge funds, private equity funds, retirement plans, separately managed accounts and other investment products. Through its Insurance Services group, BISYS is the nation's largest independent wholesale distributor of life insurance and a leading independent wholesale distributor of commercial property/casualty insurance, long-term care, disability, and annuity products. Additional information is available at www.bisys.com.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
This release may be deemed to be soliciting material in respect of the proposed merger of BISYS and Citibank N.A. In connection with the proposed merger and required stockholder approval, on June 26, 2007, BISYS filed with the Securities and Exchange Commission (the "SEC") a proxy statement. The proxy statement was mailed to BISYS stockholders and contains information about BISYS, the proposed merger and related matters. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY, AS IT CONTAINS IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING A DECISION ABOUT THE MERGER. In addition to receiving the proxy statement from BISYS by mail, stockholders are be able to obtain the proxy statement, as well as other filings containing information about BISYS, without charge, from the SEC's website (http://www.sec.gov) or, without charge, from BISYS at www.bisys.com.
PARTICIPANTS IN SOLICITATION
BISYS and its directors and executive officers and certain other members of management may be deemed to be participants in the solicitation of proxies in connection with the merger. Information concerning BISYS' participants is set forth in BISYS' Annual Report on Form 10-K for the fiscal year ended June 30, 2006, which was filed with the SEC on December 18, 2006, and in the proxy statement relating to the merger dated June 26, 2007 which was filed with the SEC on June 26, 2007. BISYS' press releases and other Company information are available at BISYS' website located at www.bisys.com.
Except for the historical information contained herein, the matters discussed in the press release are forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current reasonable expectations and are subject to certain assumptions, risks, uncertainties and changes in circumstances due to future events as well as changes in economic, competitive, regulatory and/or technological factors affecting BISYS' business, including, without limitation, the impact of the Company's proposed merger with Citibank N.A, and the outcome of pending and future litigation involving the Company. More detailed information about risk factors that could cause actual results to differ materially are noted in BISYS' periodic filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended June 30, 2006 and quarterly report on Form 10-Q for the quarter ended March 31, 2007. These documents can be accessed on BISYS' website at www.bisys.com under the "Investor Relations" tab. Forward-looking statements are only predictions, not guarantees of performance, and speak only as of the date they are made. BISYS disclaims any obligation to update or amend these statements in light of new information, future events or otherwise.
Tuesday, July 10, 2007
Long-Term Care Insurance: The Essentials Available Free to the Public from MetLife Mature Market Institute(R)
Long-Term Care Insurance: The Essentials® is a revised publication available free to the public from the MetLife Mature Market Institute. The 25-page booklet contains information that will help consumers sift through the details of a product that is important in planning for the future. The guide will assist families in making the right choices regarding the need for planning for long-term care, what long-term care insurance policies cover, what they cost and the eligibility factors involved.
"A number of studies indicate that many Americans are under the false impression that Medicaid or Medicare will cover their long-term care needs," said Sandra Timmermann, Ed.D., director, MetLife Mature Market Institute. "In fact, Medicaid will only pay for care for a small percentage of people who have few or no assets. For others, long-term care insurance enables individuals to preserve their assets, to receive the proper care when it is needed and to choose where they receive it."
Long-term care is assistance provided to those who are unable to perform activities of daily living without assistance due to a physical condition or to those who require supervision and/or assistance due to a severe cognitive impairment. Long-term care insurance can cover home care, assisted living, adult day care or nursing home care.
The guide counters a common misconception that long-term care insurance is strictly for care in a nursing home. The booklet also explains terminology used in the long-term care industry, presents basic issues and provides answers to frequently asked questions.
Long-Term Care Insurance: The Essentials answers the following:
What are the costs of long-term care?
How do you finance long-term care services?
Is long-term care insurance appropriate for you or a family member?
What are the different types of policies and coverage?
How do I select a policy?
How long will I need coverage?
How and when are benefits paid?
With life expectancy for the average 65-year-old American now placed at 18 additional years or 83 years old, many more Americans will find themselves in need of long-term care. The costs associated with this type of care are high. The average yearly cost of home care is $24,700, while assisted living and nursing homes now cost $35,460 and $66,795 on average nationwide, respectively.
THE AVERAGE COSTS OF LONG-TERM CARE
Nursing Homes $66,795/year
(Semi-private rate)
Assisted Living $35,460/year
Home Care $24,700/year or $19/hr.
(Assumes 5 hours per day, 5 days per week)
MetLife Mature Market Institute 2006 Market Survey
The MetLife Mature Market Institute is MetLife's information and policy center on issues related to aging, retirement, long-term care and the mature market. Staffed by gerontologists, the Institute provides research, training and education, consultation and information to support MetLife, its corporate customers and business partners. MetLife is a subsidiary of MetLife, Inc. (NYSE: MET - News), a leading provider of insurance and financial services with operations throughout the U.S. and the Latin America, Europe and Asia Pacific regions.
For a free copy of Long-Term Care Insurance: The Essentials, please write to the MetLife Mature Market Institute, 57 Greens Farms Road, Westport, CT 06880, call (203) 221-6580 or e-mail: MatureMarketInstitute@metlife.com. This publication can be accessed at http://www.maturemarketinstitute.com/ under 'What's New.'
Publication not available in VT; there are state-specific versions for FL, TX, OK and CA.
"A number of studies indicate that many Americans are under the false impression that Medicaid or Medicare will cover their long-term care needs," said Sandra Timmermann, Ed.D., director, MetLife Mature Market Institute. "In fact, Medicaid will only pay for care for a small percentage of people who have few or no assets. For others, long-term care insurance enables individuals to preserve their assets, to receive the proper care when it is needed and to choose where they receive it."
Long-term care is assistance provided to those who are unable to perform activities of daily living without assistance due to a physical condition or to those who require supervision and/or assistance due to a severe cognitive impairment. Long-term care insurance can cover home care, assisted living, adult day care or nursing home care.
The guide counters a common misconception that long-term care insurance is strictly for care in a nursing home. The booklet also explains terminology used in the long-term care industry, presents basic issues and provides answers to frequently asked questions.
Long-Term Care Insurance: The Essentials answers the following:
What are the costs of long-term care?
How do you finance long-term care services?
Is long-term care insurance appropriate for you or a family member?
What are the different types of policies and coverage?
How do I select a policy?
How long will I need coverage?
How and when are benefits paid?
With life expectancy for the average 65-year-old American now placed at 18 additional years or 83 years old, many more Americans will find themselves in need of long-term care. The costs associated with this type of care are high. The average yearly cost of home care is $24,700, while assisted living and nursing homes now cost $35,460 and $66,795 on average nationwide, respectively.
THE AVERAGE COSTS OF LONG-TERM CARE
Nursing Homes $66,795/year
(Semi-private rate)
Assisted Living $35,460/year
Home Care $24,700/year or $19/hr.
(Assumes 5 hours per day, 5 days per week)
MetLife Mature Market Institute 2006 Market Survey
The MetLife Mature Market Institute is MetLife's information and policy center on issues related to aging, retirement, long-term care and the mature market. Staffed by gerontologists, the Institute provides research, training and education, consultation and information to support MetLife, its corporate customers and business partners. MetLife is a subsidiary of MetLife, Inc. (NYSE: MET - News), a leading provider of insurance and financial services with operations throughout the U.S. and the Latin America, Europe and Asia Pacific regions.
For a free copy of Long-Term Care Insurance: The Essentials, please write to the MetLife Mature Market Institute, 57 Greens Farms Road, Westport, CT 06880, call (203) 221-6580 or e-mail: MatureMarketInstitute@metlife.com. This publication can be accessed at http://www.maturemarketinstitute.com/ under 'What's New.'
Publication not available in VT; there are state-specific versions for FL, TX, OK and CA.
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