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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenues $ 273,328 $ 273,822 $ 792,625 $ 782,376
Cost of revenues:        
Total cost of revenues 204,999 206,921 615,706 608,237
Gross margin 68,329 66,901 176,919 174,139
Selling, general and administrative expenses 44,160 43,001 129,194 125,438
Depreciation and amortization 1,867 1,554 5,273 4,585
Income from operations 22,302 22,346 42,452 44,116
Other income (expense):        
Investment income, net 2,412 1,584 6,856 4,790
Interest expense (80) (35) (118) (102)
Other, net 38 19 93 70
Other income, net 2,370 1,568 6,831 4,758
Income before income taxes 24,672 23,914 49,283 48,874
Provision for income taxes 6,453 6,476 13,229 13,134
Net income $ 18,219 $ 17,438 $ 36,054 $ 35,740
Basic income per common share $ 2.72 $ 2.48 $ 5.32 $ 4.96
Weighted average number of basic common shares outstanding 6,699 7,036 6,772 7,201
Diluted income per common share $ 2.68 $ 2.45 $ 5.24 $ 4.91
Weighted average number of diluted common shares outstanding 6,795 7,127 6,885 7,286
Professional Employer Services [Member]        
Revenues:        
Total revenues $ 251,423 $ 244,567 $ 727,986 $ 694,174
Staffing Services [Member]        
Revenues:        
Total revenues 21,905 29,255 64,639 88,202
Direct Payroll Costs [Member]        
Cost of revenues:        
Total cost of revenues 16,318 22,112 48,299 66,491
Payroll Taxes and Benefits [Member]        
Cost of revenues:        
Total cost of revenues 135,704 128,459 414,395 390,677
Workers' Compensation [Member]        
Cost of revenues:        
Total cost of revenues $ 52,977 $ 56,350 $ 153,012 $ 151,069