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Paychex Inc. (NASD: PAYX), a provider of payroll processing that also offers professional employer organization (PEO) services, reported revenue in its human resource services division rose 11.5 percent its fiscal fourth quarter ended May 31 to $171.2 million from $153.5 million in the year-ago quarter. Paychex’s human resources service segment includes professional employer organization revenue as well as revenue from other services.
Total fourth-quarter revenue rose 5.5 percent to $551.5 million, compared with revenue of $522.7 million during the same period in the previous year.
Fourth-quarter net income at the Rochester, N.Y.-based firm rose 3.7 percent to $123.3 million.
Full-year revenue rose 13.2 percent in the human resources division to $676.2 million. Total revenue was $2.23 billion, up 7.0 percent over the previous fiscal year. Net income for the full year was $548.0 million, up 6.3 percent from the prior year.