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View All NewsInsperity revenue up 7%
Insperity Inc. (NYSE: NSP), the largest PEO in the US, reported revenue rose 7.0% in the fourth quarter to $595.9 million.
The Houston-based company also announced plans to open five new sales offices in 2015, including new markets Philadelphia and Seattle and existing markets Chicago, Dallas and New York. Insperity expects the additional offices to bring its salesforce to a record number of approximately 400 business performance advisors.
The firm’s largest shareholder, Starboard Value LP, last month outlined suggestions aimed at creating shareholder value that include possibly selling the company.
| (US$ thousands) | Q4 2014 | Q4 2013 | % growth |
| Revenue | $595,865 | $557,133 | 7.0% |
| Gross margin | 17.0% | 16.1% | |
| Net income | $8,164 | $5,289 | 54.4% |
Quote
“Our successful fall selling and retention campaign has reestablished momentum in growth and profitability and set Insperity up for double-digit unit growth in 2015,” said Insperity Chairman and CEO Paul J. Sarvadi. “Our long-term strategy to offer a wide array of business performance solutions to establish a broader platform for growth is now in place and producing excellent results.”
Full-year results
| (US$ thousands) | 2014 | 2013 | % growth |
| Revenue | $2,357,788 | $2,256,112 | 4.5% |
| Net income | $28,004 | $32,032 | -12.6% |
Share price and market cap
Insperity shares rose 4.88% in early afternoon trading to $44.69 and the company had a market cap of $1.13 billion, according to Yahoo!