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Insperity revenue up 3% but net income slips

April 29 2013

Insperity Inc. (NYSE: NSP), the largest professional employer organization in the U.S., increased first-quarter revenue 2.8 percent to $611.8 million on a year-over-year basis.

The average number of worksite employees at the Houston-based company increased 1.2 percent to 123,391 in the first quarter and revenue per worksite employee per month increased 1.6 percent to $1,653. Gross profit per worksite employee per month increased 3.5 percent to $292.

“We are pleased with our solid financial results and the progress we made on our growth initiatives for 2013,” said Chairman and CEO Paul Sarvadi. “We have ramped up our number of business performance advisors and prepared them to take advantage of healthcare reform opportunities and drive growth in our adjacent businesses.”

Insperity reported gross margin increased to 17.7 percent in the first quarter from 17.3 percent in the same period last year.

However, net income at the PEO services firm fell 5.1 percent in the first quarter to $13.2 million from $13.9 million in the year-ago quarter.

Insperity Inc. (NYSE: NSP)

For the first quarter ended March 31, 2013, compared with the same period last year.

Revenue: $611.8 million, +2.8 percent

Net income: $13.2 million, -5.1 percent

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