Barrett Business Services Inc. (NASD: BBSI) released earnings for the fourth quarter and full-year 2015 today following a restatement prompted by the termination of its CFO on March after the executive notified the company’s audit committee that unsupported journal entries in 2013.

“Filing our 2015 10-K was the first critical step in becoming current in our filing requirements,” President and CEO Michael Elich said. “We believe this process has made us a stronger company, and we look forward to releasing our first quarter 2016 results in the coming weeks.”

Fourth-quarter net revenue rose 11.1% at the Vancouver, Wash.-based provider of staffing and PEO services based. Net PEO revenue for the fourth quarter of 2014 was lowered to $129.2 million from the initially reported $129.7 million.

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“Despite the disruption this restatement process has caused our senior management, the fundamentals of our business are strong, which is a testament to the depth of our branch-level talent,” Elich said. “In addition to 17% gross revenue growth in the fourth quarter, same-store sales were up 12.9% and we added 162 net new clients. We look forward to discussing these results in more detail shortly after our first-quarter filing.”

Revenue by segment

Barrett last week received written notification from Nasdaq that the company was noncompliant with the filing requirements and its common stock is subject to suspension and delisting. The notification came after Barrett missed its May 9 deadline to file its Form 10-K for the period ended Dec. 31, 2015 and its Form 10-Q for the period ended Sept. 30, 2015.

Full-year results

Share price and market cap

Shares in Barrett rose 28.53% in early afternoon trading today to $37.44. The company had a market cap of approximately $269.65 million, according to Yahoo!