Rochester, N.Y. (Dec. 23, 2003) — Buoyed by double-digit hikes in service revenues, payroll and benefits provider Paychex Inc. posted an 8-percent rise in second-quarter profits, to $80.7 million vs. the year-ago figure. For the period ended Nov. 30, second-quarter revenues rose 16 percent, to $312.1 million, vs. the year-ago quarter.

For the six months period, Paychex posted net income of $161 million, or $.42 diluted earnings per share, an increase of 7 percent over net income of $150.6 million.

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