Paychex Net Rises by 6 Percent
Paychex reported a 6-percent increase in net income on 3-percent increase in net income for the second quarter ended November 30. Those results were a factor in the company's outlook for the current fiscal year with Paychex anticipating payroll services revenue will rise by 1 percent to 2 percent and human resource services revenue by 10 percent to 13 percent.
Net income reached $133.9 million in the year just ended, compared to $125.8 million a year earlier. Second-quarter revnue was $512 million, up from $496.6 million in last year's corresponding period. The company reported payroll service revenue of $354.8 million, up 1 percent, and HR service revenue of $145.2 million, a 10-percent increase from the prioer year.
