December 11, 2007 / 9:49 PM / 10 years ago

CBIZ sees Q4 gain on Albridge stake sale

Dec 11 (Reuters) - Business service provider CBIZ Inc (CBZ.N) said it sold its stake in Albridge Solutions Inc to PNC Financial Services Group (PNC.N) 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)

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