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Paychex HR revenue rises 5%

October 01 2013

Paychex Inc. (NASD: PAYX), a payroll processing provider and professional employer organization, reported revenue rose 5 percent to $607.9 million in its fiscal first quarter ended Aug. 31 from $578.2 million in the same period last year.

The Rochester, N.Y.-based company reported revenue in its human resources services division rose 11 percent on a year-over-year basis to $202.7 million in its fiscal first quarter ended Aug. 31. The division includes PEO services revenue as well as other revenue.

First-quarter net income at the Rochester, N.Y.-based firm rose 6 percent to $162.8 million.

Paychex plans to expand payroll and human resource services offerings into South America through a joint venture arrangement in Brazil. It also recently acquired a payroll provider in Germany. 

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