DAYTON, Ohio, The Reynolds and Reynolds Company (NYSE:REY) today reported strong financial results for the fourth quarter and the fiscal year. Fourth quarter revenues of $247 million were 8 percent ahead of last year. Fiscal year revenues of $924 million were up 10 percent. Net income was $27 million for the quarter and $117 million for the year and earnings per share for the quarter were 35 cents and $1.47 for the fiscal year. These results include restructuring charges of 8 cents per share and a gain on the sale of the Information Solutions Group of 14 cents per share. Excluding the restructuring charges, earnings per share from continuing operations were 32 cents for the quarter and $1.19 for the year, up 10 percent and 9 percent, respectively. Return on equity for the fiscal year was 24 percent. "We reinvented the company with a singular focus on automotive retailing," said David R. Holmes, chairman and CEO. "This transformation positions us firmly as the market leader in providing services and solutions to automotive retailers and car companies. Reynolds offers the industry's only fully integrated suite of applications and services with the financial resources to fund long-term growth." During the fiscal year Reynolds: Completed the sale of the Information Solutions Group, a document services business, for approximately $360 million in cash. The proceeds are being used to fund an aggressive share buyback plan and to build next generation solutions that will solidify the company's market leadership position. Acquired the HAC Group, the industry's leading web services, learning and consulting company. The acquisition of HAC broadened our services portfolio and enhanced our ability to provide integrated, end-to end solutions. Announced relationships with a number of car companies including Toyota Motor Sales USA Inc., Saturn Corporation, Acura Division of American Honda Motor Company, General Motors Corporation, and Mercedes-Benz USA. Formed ChoiceParts, LLC, an online parts network, with other industry partners. Introduced AutoNotice.com, an Internet-based customer relationship management system. Was selected by Sonic Automotive to provide e-business networking services to more than 150 franchises across the United States. Was selected for the Information Week 500, receiving gold citations for E-Business Strategy, silver citations for Technology Strategy and Business Practices and a bronze citation for Customer Knowledge. Received the Software Support Professionals Association Star award for superior customer service for the second consecutive year. "Earlier this week, we announced the immediate availability of ERA3, a totally new capability that provides seamless access to the Internet using PCs or text-based terminals," Holmes said. "This exciting offering enables all of our customers to have two-way, text-based communications through the Internet. The system is hugely popular to our retailing customers who already use about 250,000 text-based terminals in their computing environment. Additionally, we're offering value-added applications packages with ERA3 that will enable automotive retailers to expand their payroll and service capabilities, support thin clients and wireless devices, and create a platform for ASP computing needs. We're well positioned to grow our leadership position in the automotive market." Share repurchase. The company repurchased 4.5 million shares in the fourth quarter and 5.5 million shares during the year at average prices of $18.08 and $18.41 per share, respectively. Approximately 6.0 million shares remain authorized for repurchase. "We believe that Reynolds stock represents an exceptional value, especially at current market prices," Holmes said.