XML 32 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Professional employer service fees $ 112,503 $ 93,494 $ 214,192 $ 175,312
Staffing services 38,566 35,304 72,017 65,037
Total revenues 151,069 128,798 286,209 240,349
Cost of revenues:        
Direct payroll costs 29,311 26,611 54,728 48,907
Payroll taxes and benefits 61,130 53,483 133,947 112,606
Workers' compensation 30,776 24,978 58,376 46,799
Total cost of revenues 121,217 105,072 247,051 208,312
Gross margin 29,852 23,726 39,158 32,037
Selling, general and administrative expenses 17,958 14,494 32,327 26,305
Depreciation and amortization 613 506 1,197 966
Income from operations 11,281 8,726 5,634 4,766
Other income (expense):        
Investment income 157 173 301 345
Interest expense (44) (64) (88) (143)
Other (7) 1 (17) (5)
Other income 106 110 196 197
Income before income taxes 11,387 8,836 5,830 4,963
Provision for income taxes 4,104 2,950 2,130 1,626
Net income $ 7,283 $ 5,886 $ 3,700 $ 3,337
Basic earnings per common share $ 1.02 $ 0.83 $ 0.52 $ 0.47
Weighted average number of basic common shares outstanding 7,173 7,082 7,171 7,052
Diluted earnings per common share $ 0.98 $ 0.80 $ 0.50 $ 0.45
Weighted average number of diluted common shares outstanding 7,421 7,374 7,444 7,344
Cash dividends per common share $ 0.18 $ 0.13 $ 0.36 $ 0.26