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Barrett revenue slips 22.8%

April 29, 2009

Barrett Business Services Inc. (NASD: BBSI) reported a 22.8% year-over-year decline in first-quarter revenue to $51.1 million.

The Vancouver WA-based company said first-quarter staffing revenue fell 32.9% to $24.0 million from $35.8 million in the year-ago quarter. Barrett's first-quarter professional employer organization net revenue fell 11.0% year-over-year to $27.0 million.

Barrett reported a first-quarter net loss of $3.2 million compared with net income of $91,000 in the first quarter of 2008.

Barrett Business Services Inc. (NASD: BBSI)
For the first quarter ended March 31, 2009, compared with the same period in 2008.
Revenue: $51.1 million, -22.8%
Net loss: $3.2 million vs. net income of $91,000