Misys says health unit problems continue
Health and insurance software firm Misys said on Friday that problems had continued at its healthcare division while its banking business had made progress in the first half of the year.
Misys, which had been at the centre of a failed takeover battle, added it had paid founder and former chief executive Kevin Lomax 1.1 million pounds to step down.
"Our Banking businesses are making progress while our Healthcare business is behind the performance of its peers," Chief Executive Mike Lawrie said in a statement.
Revenues from its healthcare software fell 6 percent on a reported basis with initial licence fees (ILF) order intake down by 23 percent. Revenues at its banking software division rose 7 percent rise, with no change in ILF order intake.
Basic earnings per share for the six months to November 30 was expected to be in the range of 5.5 to 6.0 pence per share, the company said.
Misys appointed former IBM senior vice president and Siebel chief executive Lawrie as chief executive in October after a Lomax-led private equity funded bid for the firm failed to materialise and Chairman Dominic Cadbury rejected a so called 'management walk in' by three former executives.
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