Daily News

View All News

Administaff revenue edges up 1.3%

May 04, 2009

First-quarter revenue rose 1.3% year-over-year at Administaff Inc. (NYSE: ASF) to $462.0 million. The Kingwood TX-based professional employer organization reported revenue got a boost from a 2.9% increase in revenues per worksite employee, offset by a 1.6% decrease in the average number of worksite employees paid per month.

Gross margin narrowed to 18.1% in the first quarter from 19.0% in the same period last year.

Administaff announced first-quarter net income fell 37.9% year-over-year to $8.2 million.

Separately, Administaff announced the results of a survey of small- and medium-sized businesses which found that 59% don't expect an economic turnaround until 2010 or later. Another 23% believed a turnaround would happen by the end of this year and 17% were unsure.

The survey also found that 62% of small- and medium-sized businesses reported they were maintaining current staffing levels, 18% were adding new positions and 19% were planning layoffs.

Administaff Inc. (NYSE: ASF)
For the first quarter ended March 31, 2009, compared with the same period in 2008.
Revenue: $462.0 million, +1.3%
Net income: $8.2 million, -37.9%