Rochester, N.Y. (June 26, 2003) - Payroll and benefits provider Paychex Inc. posted a 4-percent rise in fourth-quarter earnings, to $71.3 million, versus the year-ago quarter, for the period ended May 31.
For the year, the company, headquartered here, said profits increased 7 percent, to $293.5 million, compared to year-end fiscal 2002.
For the fourth quarter and 12-month periods, Paychex revenues rose 19 percent and 15 percent, to $289.8 million and $1.1 billion, respectively. During the year Paychex acquired two mid-market payroll providers, Advantage Payroll Services and InterPay.
Paychex said the two payroll entities contributed an aggregate $61.9 million in revenue since the dates of their respective acquisitions.
-- WebCPA staff
