CBIZ sees Q4 gain on Albridge stake sale

martedì 11 dicembre 2007 22:46

Dec 11 (Reuters) - Business service provider CBIZ Inc (CBZ.N: Quotazione) said it sold its stake in Albridge Solutions Inc to PNC Financial Services Group (PNC.N: Quotazione) and expects a related pre-tax gain of $7.3 million in the fourth quarter.

The sale will add about 6 cents per share to CBIZ's earnings from continuing operations in the fourth quarter, the company said in a statement.

Albridge is a provider of portfolio accounting and enterprise wealth management services. (Reporting by Aditi Samajpati in Bangalore; Editing by Gopakumar Warrier)