CBIZ (CBZ) Misses Q3 EPS by 1c, CEO Sees No Slow Down in Economy

CBIZ (NYSE: CBZ) reported Q3 EPS of $0.10, $0.01 worse than the analyst estimate of $0.11. Cash earnings per share from continuing operations, a non-GAAP measure that includes the impact of major non-cash charges to earnings, was $0.24 per diluted share for the third quarter 2011.

Revenue for the quarter came in at $177.1 million versus the consensus estimate of $178.99 million.

Steven L. Gerard, CBIZ Chairman and CEO stated, "At this point we have not yet seen any significant change in the economic environment that impacts our clients and, as a result, we continue to expect that full year results for 2011 will reflect an increase in earnings per share within a range of 10% to 15% over $0.52 per diluted share reported for 2010, when adjusted for the lease restructuring and financing related charges incurred in 2010."

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