XML 19 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Professional employer service fees $ 177,229 $ 152,108 $ 497,682 $ 418,954
Staffing services 47,874 46,617 121,806 128,130
Total revenues 225,103 198,725 619,488 547,084
Cost of revenues:        
Direct payroll costs 37,017 35,308 92,667 97,260
Payroll taxes and benefits 82,888 75,237 269,533 235,122
Workers' compensation 55,639 45,290 155,089 126,403
Total cost of revenues 175,544 155,835 517,289 458,785
Gross margin 49,559 42,890 102,199 88,299
Selling, general and administrative expenses 30,440 25,440 80,834 63,839
Depreciation and amortization 823 721 2,341 2,113
Income from operations 18,296 16,729 19,024 22,347
Other income (expense):        
Investment income 194 254 702 570
Interest expense (196) (467) (704) (1,549)
Loss on litigation (3,305) 0 (3,305) 0
Other, net 27 (3) 26 (82)
Other expense, net (3,280) (216) (3,281) (1,061)
Income before income taxes 15,016 16,513 15,743 21,286
Provision for income taxes 4,783 5,540 4,991 7,239
Net income $ 10,233 $ 10,973 $ 10,752 $ 14,047
Basic earnings per common share $ 1.41 $ 1.52 $ 1.49 $ 1.96
Weighted average number of basic common shares outstanding 7,243 7,201 7,220 7,163
Diluted earnings per common share $ 1.38 $ 1.49 $ 1.46 $ 1.91
Weighted average number of diluted common shares outstanding 7,405 7,362 7,350 7,340
Cash dividends per common share $ 0.22 $ 0.22 $ 0.66 $ 0.66