Spurred by revenue increases in its payroll and human resources units, payroll and benefits outsourcing provider Paychex Inc. posted an 11 percent rise in second quarter profits, to $147.1 million for the period ended Nov. 30.
The company said second-quarter revenues rose 12 percent, to $508 million, compared to the year-ago quarter, while revenues from payroll and human resources services rose 9 percent and 24 percent to $362 million and $115.5 million, respectively.
The company said its second quarter financials included the acquisition of Hawthorne Benefit Technologies Inc., whose proprietary BeneTrac Web-based administration and benefits system helped sparked the revenue growth in Paychex's HR arm.
Paychex has also introduced an online resource center for accounting professionals, powered by BNA and CCH. The Paychex Accountant Knowledge Center includes current industry news feeds, a searchable database of answers to frequently asked payroll questions, and downloadable payroll and employment forms.
It also offers access to interactive HR and personnel forms, state compliance resources, local wage and tax information, an opt-in e-mail alert service to help users stay current with state regulations, and more than 150 interactive financial calculators.
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