In a prepared statement, Mucci said the organic client base, which had declined for three years, was flat for 2012. However, the company recorded record service revenue with checks per payroll up for the ninth straight quarter. He also said that payroll client retention was near record levels.Last modified on Sunday, 02 June 2013
Paychex Reports "Solid Year"
Payroll services provider Paychex has turned in what CEO Martin Mucci called a "solid year" as the company reported results for the year ended May 31. The company reported a 6-percent increase in net income on a 7-percent rise in revenue. However, its outlook for fiscal 2013 is in line with general expectations for sluggish economic growth.