Paychex Posts Seven Percent Revenue Gain
December 20, 2011 – Paychex, Inc./(NASDAQ:PAYX) has reported second quarter revenues of $545.7 million., a seven percent rise from the previous year. Revenue from the payroll service segment was up five percent to $371.7 million, while revenue from the human resource services jumped 12 percent to $163.3 million. The company recorded net income of $140.4 million, or 39 cents a share, compared with $133.9 million, or 37 cents a share, last year. Martin Mucci, president and chief executive officer, said: “Paychex delivered solid results for the second quarter. We expanded our software-as-a-service (SaaS) offerings with the introduction of our new single sign-on page for online users and an iPad application. Paychex is a provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses.