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Administaff cites increase in worksite employees

October 17 2008

Administaff Inc. (NYSE: ASF), the largest professional employer organization in terms of net revenue, said today the number of worksite employees it served in the third quarter rose 6.1% from the third quarter of last year and totaled 119,389. The Houston-based company also said it expects gross profit per worksite employee to have risen 7.7% year over year in the third quarter to $239.

Administaff's results released today are preliminary. It said full earnings information will be released Nov. 3.

"Administaff continues to perform well in spite of uncertainty in the marketplace and the disruption of Hurricane Ike," said Chairman and CEO Paul Sarvadi. "While we do not expect to be unaffected by the recent market turmoil, we are positioned to remain opportunistic with no debt and a strong balance sheet."

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