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Professional employer organization revenue jumped in the second quarter while staffing revenue edged down at Barrett Business Services Inc. (NASD: BBSI). Second-quarter PEO net revenue rose 43.1 percent year over year to $65.1 million at the Vancouver, Wash.-based firm. Staffing revenue edged down 0.4 percent in the second quarter to $30.4 million.
Barrett’s total second-quarter revenue rose 25.6 percent to $95.5 million from $76.0 million in the second quarter of last year.
The company’s second-quarter gross margin narrowed to 17.1 percent from 17.5 percent in the year-ago quarter.
Barrett reported second-quarter net income increased 8.5 percent to $3.7 million from $3.4 million in the year-ago quarter.