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Paychex Revenue Rises 7%

March 29 2012

Paychex Inc. (NASD: PAYX), a provider of payroll processing that also offers professional employer organization (PEO) services, reported revenue rose 7.2 percent to $569.5 million in its fiscal third quarter ended Feb. 29, 2012. That compares with revenue of $531.3 million during the same period in the previous year.

The company includes its PEO revenue in its human resource services division. The division also includes revenue from Paychex’s administrative services organization. Human resource services division revenue rose 12.3 percent in Paychex’s fiscal third quarter to $172.0 million from $153.2 million in the year-ago quarter.

Third-quarter net income at the Rochester, N.Y.-based firm rose 3.7 percent to $135.4 million.

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