BBSI announces some great results right after ADP’s last week. 34% increase in net revenues and a big turnaround on the income side. Nice to see another public PEO kicking some butt!
BBSI Reports Fourth Quarter and Full Year 2012 Financial Results – MarketWatch.
Barrett Business Services Inc. reported a 34% increase in net revenues to $113.7 million in the fourth quarter of 2012 from $84.7 million in the fourth quarter of 2011. Net income rose to $5.8 million in the fourth quarter, versus a net loss of $93,000 for the same period in 2011. Net revenues for all of 2012 totaled $402.7 million, up 28% from $314.9 million in 2011. Net income totaled $13.1 million in 2012, down from $14.3 million in 2011.
Staffing services revenues reached $33.9 million in the fourth quarter of 2012, up 8% from $31.3 million a year earlier. Staffing services revenues were $126.6 million for the full year, up 2% from $124.8 million in 2011.
