XML 64 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:      
Professional employer service fees $ 388,963 $ 276,004 $ 190,113
Staffing services 143,881 126,648 124,761
Total revenues 532,844 402,652 314,874
Cost of revenues:      
Direct payroll costs 108,800 95,128 94,568
Payroll taxes and benefits 228,903 169,724 123,017
Workers' compensation 108,617 71,086 53,837
Total cost of revenues 446,320 335,938 271,422
Gross margin 86,524 66,714 43,452
Selling, general and administrative expenses 60,061 46,450 38,174
Depreciation and amortization 2,037 1,477 1,344
Income from operations 24,426 18,787 3,934
Other income (expense):      
Life insurance proceeds 0 0 10,000
Investment income 723 776 1,199
Interest expense (238) (76) (25)
Other (9) (28) 47
Other income 476 672 11,221
Income before income taxes 24,902 19,459 15,155
Provision for income taxes 7,010 6,328 837
Net income $ 17,892 $ 13,131 $ 14,318
Basic earnings per share $ 2.52 $ 1.70 $ 1.42
Weighted average number of basic shares outstanding 7,105 7,723 10,083
Diluted earnings per share $ 2.42 $ 1.67 $ 1.41
Weighted average number of diluted shares outstanding 7,397 7,863 10,150
Cash dividends per common share $ 0.57 $ 0.46 $ 0.38