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Paychex Revenue Rises 3%

September 25 2012

Paychex Inc. (NASD: PAYX), a payroll processing and PEO firm, reported total revenue rose 3 percent to $578.2 million in its first fiscal quarter ended Aug. 31, 2012, from $563.1 million for the same period last year.

The company provides professional employer organization services through its “human resource services” division. First-quarter revenue in the company's human resource service division rose 7 percent year over year to $182.2 million. The human resource service division also includes other businesses.

Paychex’s first-quarter net income rose 3 percent to $153.1 million.

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