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Martin Mucci, PaychexPaychex had its "best selling season in seven or eight years," CEO Martin Mucci said this week. Mucci made his comments during the week's webcast for earnings for the third quarter ended February 28. He said referrals and sales were strong in all of the payroll company's channels in what was the strongest selling season since the recession began in 2008.

Net income reached $169.4 million for the most recently ended quarter, an increase of 5.8 percent from $160.1 million the prior year. Third-quarter revenue was $704.3 million, up 8.2 percent from $650.4 million in last year's corresponding period.

"Our CPA channel has continued to be strong," Mucci said. He also noted, "We picked up a lot from the bank channel from referral standpoint." Mucci also said the sales force had executed well and that team selling had been beneficial to the top line. Business was also strong in sales to franchisees whose parent companies have named Paychex as a preferred payroll provider.

Paychex' human resource business continued strong growth, reporting revenue of $269.8 million, an increase of 19 percent from $226 million a year earlier. Payroll services revenue hit $423.8 million, up 2 percent from $413.9 million

Last modified on Thursday, 26 March 2015
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