Summary of CBIZ, INC. - Yahoo! Finance

Results of Operations and Financial Condition, Financial Statements and Exhibits

Item 2.02 Results of Operations and Financial Condition.
On February 12, 2009, CBIZ, Inc. (the "Company") issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2008. A copy of the press release is furnished herewith as Exhibit 99.1. A transcript of CBIZ's earnings conference call held on February 12, 2009 is furnished herewith as Exhibit 99.2. The exhibits contain, and may implicate, forward-looking statements regarding the Company and include cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.
In connection with the 2009 adoption of FSP APB 14-1, the Company commented that they would begin to provide "Cash EPS" to assist with the year-over-year comparison of operating results. The Company stated that diluted Cash EPS from continuing operations for the year ended December 31, 2008 was $0.87. A reconciliation of GAAP EPS to Cash EPS is provided in the table below (in thousands, except per share data):

GAAP income from continuing operations                                   $ 33,344

Depreciation and amortization                                              15,111
Stock-based compensation                                                    3,740
Non-cash asset impairment charges                                           2,251
Amortization of debt issuance costs and other non-cash items                  795

Cash earnings from continuing operations                                   55,241
Non-recurring gain on sale of investment, net of tax                         (501 )

Cash earnings excluding non-recurring gain                               $ 54,740


Diluted weighted average common shares outstanding                         62,572

GAAP earnings per diluted share - continuing operations                  $   0.53


Cash earnings per diluted share - continuing operations, excluding
non-recurring gain                                                       $   0.87

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.

99.1   Press Release of CBIZ, Inc. dated February 12, 2009, announcing its
       financial results for the fourth quarter and year ended December 31, 2008.

99.2   Transcript of earnings conference call held on February 12, 2009,
       discussing CBIZ's financial results for the fourth quarter and year ended
       December 31, 2008.