This Week
  • Rochester Regional Health ended 2015 with operating surplus of $48 million.

  • Royal Oak Realty Trust CEO Daniel Goldstein leads a firm he started with Laurence Glazer.

  • Significant changes in the state's home care industry have driven changes at Tender Loving Family Care.

  • Effective employee recognition can help build a better workplace for all.

  • Health care professional Carla D'Angelo's wish is to one day make volunteering her career.

  • The Schools Report Card has rankings for 27 districts and more than 250 schools.

Paychex Q1 results top Street expectations

Rochester Business Journal
September 30, 2013

Paychex Inc.’s net income rose some 6 percent in its fiscal first quarter.

On Monday, the Penfield-based payroll and human resource services company reported net income of $162.8 million, up from $153.1 million a year ago. Diluted earnings per share rose 5 percent to 44 cents from 42 cents a year ago. Analysts polled by Thomson Reuters expected earnings per share of 43 cents.

The company logged $607.9 million in revenue, topping analysts’ estimates of $605.6 million. Revenues were up 5 percent from $578.2 million a year ago.

Payroll service revenue increased 2 percent in the quarter to $395.2 million, while human resources services increased 11 percent to $202.7 million.

Martin Mucci, Paychex president and CEO, called the quarter a solid start to fiscal 2014.

“Our sales execution continues to advance, particularly in core payroll and in human resource services,” he said. “Our investments in market-leading software-as-a-service technology and mobile applications position us for long-term growth. Furthermore, client satisfaction and client retention continued at record levels.”

Mucci also highlighted the company’s growth in South America, where it is offering payroll and human resource services in Brazil.

“Brazil is a significant market with a growing economy, approximately five million small businesses, and, with recent regulatory changes, a significant opportunity for outsourcing payroll and human resource services,” he said.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google