CBZ
P/E (ttm): 15.43
PERIOD ENDING..... 31-Dec-07. 30-Sep-07. 30-Jun-07. 31-Mar-07
Retained Earnings ..(37,414)... (43,514) .(48,160) ..(57,990)
Total Revenue ......156,283 ... 151,718 . 152,695 .. 183,203
Sale (Buy) Stock ....(6,175) ...(5,455) ...(6,816) ..(14,965) <<=====
Net Borrowings....... 17,731 .....1,908 ..(19,337) ...29,041
Qtrly Revenue Growth (yoy): 10.90% <-----XLNT
Qtrly Earnings Growth (yoy): 101.10% <===YO BAYBEE..XLNT
Total Debt (mrq): 141.79M <----22% of revenue...too high???
Short % of Float (as of 11-Mar-08): 11.80% <--motivated buyers
http://stockcharts.com/charts/gallery.html?CBZ
grab the legdown to $6.25
CBIZ, Inc. provides professional business services to various businesses,
individuals, governmental entities, and not-for-profit enterprises in the
United States and Canada. It offers services through four groups:
Financial Services, Employee Services, Medical Management Professionals
(MMP), and National Practices. The company's Financial Services group
provides accounting, tax, financial advisory, litigation sup****t,
valuation, internal audit, fraud detection, and real estate advisory
services. Its Employee Services group offers group health products,
property and casualty insurance, COBRA/Flex, retirement planning, wealth
management, life insurance, human capital management, payroll services,
specialty life insurance, and actuarial services. CBIZ's MMP group
provides coding and billing, accounts receivable management, and full
practice management services. Its National Practices group consists of
managed networking and hardware services, project management, software
solutions, mergers and acquisitions, health care consulting, and
information technology consulting. The company was founded in 1987. It
was formerly known as Century Business Services, Inc. and changed its
name to CBIZ, Inc. in 2005. CBIZ is headquartered in Cleveland, Ohio.
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Thu, Apr 3, 2008
• CBIZ Expands Credit Facility to $150M
AP (Thu, Apr 3)
• CBIZ Acquires Leading National Executive Search Firm EFL Associates
PR Newswire (Wed, Apr 2)
Tue, Feb 5, 2008
• CBIZ Acquires Major Provider of Innkeepers' Insurance
PR Newswire (Tue, Feb 5)
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from the 10k annual re****t;
During the year ended December 31, 2007, CBIZ acquired three businesses.
Segal Miller McClain LTD., which is re****ted with our Financial Services
practice group, is based in Phoenix, Arizona and provides accounting, tax
and consulting services. Ichthus Consulting, Inc. (ICON) and Healthcare
Business Resources, Inc. (HBR) are re****ted in the Medical Management
Professionals practice group. ICON is located in Montgomery, Alabama and
provides billing services, practice management and consulting services to
anesthesia and pain management providers primarily in the southeastern
United States. HBR is headquartered in Ponte Vedra Beach, Florida and
provides coding, billing and collection services for emergency medicine
physician practices along the east coast of the United States.
During the year ended December 31, 2007, CBIZ divested four business
units that did not contribute to our long-term objectives for growth, two
of which were classified as discontinued operations at December 31, 2006
and two that were committed to divestiture and classified as discontinued
operations during 2007. Three of these businesses were previously
re****ted in the Financial Services practice group and offered accounting,
tax and consulting services. The remaining business was previously
included in the Employee Services practice group and offered specialty
insurance services.
CBIZ purchased 5.2 million shares of its common stock at a total cost of
$38.1 million during the year ended December 31, 2007. On February 7,
2008, CBIZ's Board of Directors authorized the purchase of up to 5.0
million shares of CBIZ common stock through March 31, 2009. The shares
may be repurchased in the open market or through privately negotiated
purchases according to SEC rules. During the period January 1 through
February 29, 2008, CBIZ repurchased approximately 2.1 million shares of
its common stock at a total cost of approximately $19.3 million.
At the Annual Meeting of Stockholders of CBIZ held on May 17, 2007, the
stockholders approved the discounted Employee Stock Purchase Plan which
became effective August 16, 2007. Under this plan, employees of CBIZ are
able to purchase shares of common stock at the market rate less a
discount.
Interest expense - Interest expense increased by $1.2 million to $4.6
million for the year ended December 31, 2007, from $3.4 million for the
comparable period in 2006. Average debt was $118.4 million for the year
ended December 31, 2007, compared to $80.4 million for the comparable
period in 2006, and average interest rates were 3.8% and 4.0% during the
years ended December 31, 2007 and 2006, respectively. The increase in
average debt in 2007 compared to 2006 was due to $100.0 million of
convertible senior subordinated notes being issued on May 30, 2006, and
additional borrowings on the credit facility during 2007.
Approximately 45% of the increase in same-unit revenue was provided by
net new business sold, and the remaining 55% increase was provided by
existing clients.
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