Cleveland (July 30, 2004) — Citing depressed operating margins as a result of costs to settle long-standing litigation and higher overhead due to additional hires in its wealth management units, accounting firm consolidator Century Business Services Inc. reported a 27 percent plunge in second-quarter profits, to $2.6 million, for the period ended June 30.
The roll-up, headquartered here, also said that an underperforming unit contributed to the fall in its second-quarter net income.
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