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US - Paychex HR revenue rises 12%

December 19 2013

Paychex Inc. (NASD: PAYX), a payroll processing provider and professional employer organization, reported revenue in its human resources services division rose 12 percent on a year-over-year basis to $204.8 million in its fiscal second quarter ended Nov. 30. The division includes professional employer organization services revenue as well as other businesses.

The Rochester, N.Y.-based company reported total revenue rose 7 percent to $610.5 million in its second quarter from $569.4 million in the same period last year.

Second-quarter net income rose 7 percent to $158.7 million.

Within its human resources services division, revenue from both Paychex’s administrative services organization and professional employer organization grew at double-digit rates, the company said in a press release. However, the HRS division’s revenue growth was tempered modestly by higher direct costs within PEO services.

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