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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2015
Dec. 31, 2014
[1]
Dec. 31, 2013
[1]
Revenues:                              
Professional employer service fees $ 153,332 $ 152,108 $ 139,612 $ 127,234 $ 129,154 $ 126,396 $ 112,238 $ 102,734 $ 108,224 $ 108,127 $ 94,456 $ 82,278 $ 572,286 $ 470,522 $ 393,085
Staffing services 40,425 46,617 42,347 39,166 45,313 48,503 38,566 33,451 37,117 41,727 35,304 29,733 168,555 165,833 143,881
Total revenues 193,757 198,725 181,959 166,400 174,467 174,899 150,804 136,185 145,341 149,854 129,760 112,011 740,841 636,355 536,966
Cost of revenues:                              
Direct payroll costs 30,704 35,308 32,188 29,764 34,584 37,087 29,311 25,417 28,308 31,585 26,611 22,371 127,964 126,399 108,875
Payroll taxes and benefits 77,162 75,237 71,808 88,077 67,793 64,308 58,853 72,146 56,532 55,982 51,050 58,599 312,284 263,100 222,163
Workers' compensation 44,734 45,290 41,485 39,628 35,090 33,661 115,518 29,182 38,265 32,671 28,459 24,032 171,137 213,451 123,427
Total cost of revenues 152,600 155,835 145,481 157,469 137,467 135,056 203,682 126,745 123,105 120,238 106,120 105,002 611,385 602,950 454,465
Gross margin 41,157 42,890 36,478 8,931 37,000 39,843 (52,878) 9,440 22,236 29,616 23,640 7,009 129,456 33,405 82,501
Selling, general and administrative expenses 26,338 25,440 21,429 16,970 20,335 21,679 17,958 14,093 16,378 16,820 14,506 11,735 90,177 74,065 59,439
Depreciation and amortization 738 721 709 683 663 646 613 584 550 521 506 460 2,851 2,506 2,037
Income (loss) from operations 14,081 16,729 14,340 (8,722) 16,002 17,518 (71,449) (5,237) 5,308 12,275 8,628 (5,186) 36,428 (43,166) 21,025
Other (expense) income:                              
Investment income 201 254 229 87 154 61 160 168 218 206 (342) 457 771 543 539
Interest expense (416) (467) (562) (520) (42) (43) (44) (44) (46) (48) (64) (80) (1,965) (173) (238)
Other, net (6) (3) (65) (14) (9) 178 (7) (10) (7) 3 1 (6) (88) 152 (9)
Other (expense) income, net (221) (216) (398) (447) 103 196 109 114 165 161 (405) 371 (1,282) 522 292
Income (loss) before income taxes 13,860 16,513 13,942 (9,169) 16,105 17,714 (71,340) (5,123) 5,473 12,436 8,223 (4,815) 35,146 (42,644) 21,317
Provision for (benefit from) income taxes 2,413 5,540 5,040 (3,341) 7,452 8,848 (31,558) (1,840) 843 3,711 2,704 (1,614) 9,652 (17,098) 5,644
Net (loss) income $ 11,447 $ 10,973 $ 8,902 $ (5,828) $ 8,653 $ 8,866 $ (39,782) $ (3,283) $ 4,630 $ 8,725 $ 5,519 $ (3,201) $ 25,494 $ (25,546) $ 15,673
Basic earnings (loss) per common share $ 1.59 $ 1.52 $ 1.24 $ (0.82) $ 1.22 $ 1.24 $ (5.55) $ (0.46) $ 0.65 $ 1.22 $ 0.78 $ (0.46) $ 3.55 $ (3.57) $ 2.21
Weighted average number of basic common shares outstanding 7,203 7,201 7,151 7,135 7,122 7,177 7,173 7,170 7,165 7,150 7,082 7,022 7,173 7,160 7,105
Diluted earnings (loss) per common share $ 1.55 $ 1.49 $ 1.21 $ (0.82) $ 1.20 $ 1.19 $ (5.55) $ (0.46) $ 0.62 $ 1.18 $ 0.75 $ (0.46) $ 3.47 $ (3.57) $ 2.12
Weighted average number of diluted common shares outstanding 7,396 7,362 7,327 7,135 7,234 7,428 7,173 7,170 7,477 7,425 7,374 7,022 7,353 7,160 7,397
Cash dividends per common share $ 0.22 $ 0.22 $ 0.22 $ 0.22 $ 0.22 $ 0.18 $ 0.18 $ 0.18 $ 0.18 $ 0.13 $ 0.13 $ 0.13 $ 0.88 $ 0.76 $ 0.57
[1] See Note 2. Restatement of Previously Issued Consolidated Financial Statements