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Technology Stocks : Billing Concepts Corp (BILL) - An emerging e-commerce play

BILL 47.10

-4.3%

3:59 PM EST

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To: bill small who wrote (82)	4/22/1999 2:30:00 PM
From: TLindt	Read Replies (3) of 150

Guess we have to wait a couple months for all the details... Thursday April 22, 10:49 am Eastern Time Billing Concepts to split in two SAN ANTONIO, April 22 (Reuters) - Bill processing and customer service company Billing Concepts Corp. on Thursday said it will spin off its systems and software division and retain its clearing house division under the company's name. The company said the two companies will have different missions and different financial, investment and operating characteristics and will be free to pursue industry-specific business strategies and objectives independent of the other. Although the company has not finalized the details of the breakup, Billing Concepts said it expects stockholders to receive one new share of the new, yet-unnamed company for each share of Billing Concepts by Sept. 30. The company said it expects to report details of the break-up between June 15 and July 15. On Thursday the company reported net second-quarter net income dropped to $5.9 million, or $0.16, from $7.4 million, or $0.20, a year ago. "The time is right for the Systems and Software division to stand alone as a publicly traded company, Parris Holmes Jr., chief executive officer, said in a statement. Shares of Billing Concepts Thursday morning were down 1/4 to 13-3/4. The company's 52-week high was 29-1/8, its low 7-5/8. -------------------------------------------------------------------------------- More Quotes and News: Billing Information Concepts Corp (Nasdaq:BILL - news) biz.yahoo.com

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