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Third-quarter professional employer organization revenue jumped 47.4 percent at Barrett Business Services Inc. (NASD: BBSI) to $74.9 million from $50.8 million in the year-ago quarter. The company said its maturing brand and strong referral channels have helped drive growth.
Third-quarter staffing revenue rose 4.6 percent in the second quarter to $36.2 million.
Barrett’s total third-quarter revenue rose 30.1 percent to $111.1 million from $85.4 million in the thrid quarter of last year.
The company’s third-quarter gross margin increased to 19.4 percent from 18.9 percent in the year-ago quarter.
Barrett reported third-quarter net income increased 7.4 percent to $5.8 million from $5.4 million in the year-ago quarter.
Barrett Business Services Inc. (NASD: BBSI)
For the third quarter ended Sept. 30, 2012 compared with the same period last year.
Revenue: $111.1 million, +30.1 percent
Net income: $5.8 million, +7.4 percent