UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 12, 2006
THE BISYS GROUP, INC.
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(Exact name of registrant as specified in its charter)
Delaware 001-31254 13-3532663
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(State or other Jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
105 Eisenhower Parkway, Roseland, New Jersey 07068
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(Address of principal executive offices)
973-461-2500
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following
provisions (see General Instruction A.2):
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (917
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240-14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240-13e-4(c))
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
In connection with its review of its restated financial statements with the
Securities and Exchange Commission, The BISYS Group, Inc. (the "Company") has
discovered additional accounting errors in its restated financial statements
previously filed in its annual report on Form 10-K for the fiscal year ended
June 30, 2005. The errors are associated with the Company's accounting for
certain acquisitions in its Life Insurance Services business during fiscal years
2001 through 2003. The net amount of such errors is currently estimated by the
Company to be less than $3,000,000 in cumulative after-tax impact to its
stockholders equity as of June 30, 2003. The Company is continuing its
investigation and analysis of these errors and has not yet determined the
appropriate manner in which the required adjustments will be reflected in its
consolidated financial statements.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE BISYS GROUP, INC.
By: /s/ Bruce Dalziel
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Bruce Dalziel
Executive Vice President & Chief
Financial Officer
Date: June 12, 2006
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