PEO, staffing services revenue rise at Barrett in Q2
July 30, 2014
PEO fee revenue jumped 17.3 percent at Barrett Business Services Inc. (NASD: BBSI) in the second quarter. Staffing services revenue at the Vancouver, Wash.-based firm rose 9.2 percent.
Quote
“The growth in our business for the second quarter of 2014 is a direct result of BBSI’s continued brand maturation in the marketplace,” said President and CEO Michael Elich. “Complemented by healthy organic growth from our existing client base and strong referral channels, we continue to drive new business and maintain our high client retention rate.
Revenue
| Q2 2014 (000s)
| Q2 2013 (000s)
| % growth
|
Revenue
| $151,069
| $128,798
| 17.3%
|
Revenue by segment
| Q2 2014 (000s)
| Q2 2013 (000s)
| % growth
|
Professional employer service fees
| $112,503
| $93,494
| 20.3%
|
Staffing services
| $38,566
| $35,304
| 9.2%
|
Gross margin
| Q2 2014
| Q2 2013
|
Gross margin
| 19.8%
| 18.4%
|
Net income
| Q2 2014 (000s)
| Q2 2013 (000s)
| % growth
|
Net income
| $7,283
| $5,886
| 23.7%
|
Share price and market cap
Shares rose 11.57 percent in late morning trading to $56.61. The company had a market cap of $406.18 million, according to Yahoo!