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Insperity revenue up, but profit falls

February 08 2013

Insperity Inc. (NYSE: NSP), the largest professional employer organization in the U.S., increased fourth-quarter revenue 7.5 percent to $532.4 million on a year-over-year basis. The Houston-based company also reported the average number of worksite employees rose 6.0 percent to 129,345 in the fourth quarter. However, gross margin narrowed and net income fell.

Insperity reported gross margin fell to 17.6 percent in the fourth quarter from 18.2 percent in the same period last year.

Operating income fell 4.8 percent year over year to $15.9 million in the fourth quarter. The company posted a noncash impairment charge of almost $4.2 million related to a write-down of goodwill from an acquisition in 2006.

At the bottom line, net income fell 12.9 percent to $9.4 million in the fourth quarter from $10.8 million in the year-ago quarter.

Insperity shares fell by 11.6 percent in morning trading, according to Yahoo. The company had a market capitalization of $798.98 million.

Insperity Inc. (NYSE: NSP)
For the fourth quarter ended Dec. 31, 2012, compared with the same period in 2011.
Revenue: $532.4 million, +7.5 percent
Net income: $9.4 million, -12.9 percent

For full-year ended Dec. 31, 2012, compared with the previous year.
Revenue: $2.16 billion, +9.2 percent
Net income: $40.4 million, +32.6 percent

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