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
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access