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View All NewsBarrett revenue up 21% in Q2
Second-quarter revenue rose 20.7% at Barrett Business Services Inc. (NASD: BBSI), and net income rose 20.1% at the Vancouver, Wash.-based provider of staffing and PEO services.
A lion’s share of the company’s revenue growth came from the company’s PEO segment.
(US$ thousands) | Q2 2015 | Q2 2014 | % growth |
Revenue by segment | $182,395 | $151,069 | 20.7% |
Gross margin | $36,164 | $29,852 | 21.1% |
Gross margin percentage | 19.8% | 19.8% | |
Net income | $8,746 | $7,283 | 20.1% |
Quote
“We are pleased with our Q2 results as they continue to be driven by the organic growth of our existing client companies and the expansion of our new client count,” said President and CEO Michael Elich. “Same-store sales grew 9.2% and we experienced a net build of 201 clients. We also continue to experience favorable trends related to workers’ compensation, while continuing to mature our base of operations and areas that support our growth.”
Revenue by segment
(US$ thousands) | Q2 2015 | Q2 2014 | % growth |
Professional employer service fees | $140,048 | $112,503 | 24.5% |
Staffing services | $42,347 | $38,566 | 9.8% |
Share price and market cap
Shares in Barrett rose 0.67% in early afternoon trading today to $42.20. The company had a market cap of approximately $301.39 million, according to Yahoo!