XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total revenues $ 264,630 $ 262,179 $ 519,297 $ 508,554
Cost of revenues:        
Total cost of revenues 197,584 195,294 410,707 401,316
Gross margin 67,046 66,885 108,590 107,238
Selling, general and administrative expenses 43,808 42,272 85,034 82,437
Depreciation and amortization 1,729 1,523 3,406 3,031
Income from operations 21,509 23,090 20,150 21,770
Other income (expense):        
Investment income, net 2,129 1,568 4,444 3,206
Interest expense   (33) (38) (67)
Other, net 19 19 55 51
Other income, net 2,148 1,554 4,461 3,190
Income before income taxes 23,657 24,644 24,611 24,960
Provision for income taxes 6,641 6,630 6,776 6,658
Net income $ 17,016 $ 18,014 $ 17,835 $ 18,302
Basic income per common share $ 2.52 $ 2.52 $ 2.62 $ 2.51
Weighted average number of basic common shares outstanding 6,751 7,162 6,809 7,284
Diluted income per common share $ 2.47 $ 2.48 $ 2.57 $ 2.48
Weighted average number of diluted common shares outstanding 6,875 7,257 6,931 7,365
Professional Employer Services [Member]        
Revenues:        
Total revenues $ 244,256 $ 232,174 $ 476,563 $ 449,607
Staffing Services [Member]        
Revenues:        
Total revenues 20,374 30,005 42,734 58,947
Direct Payroll Costs [Member]        
Cost of revenues:        
Total cost of revenues 15,110 22,458 31,981 44,379
Payroll Taxes and Benefits [Member]        
Cost of revenues:        
Total cost of revenues 134,109 126,353 278,691 262,218
Workers' Compensation [Member]        
Cost of revenues:        
Total cost of revenues $ 48,365 $ 46,483 $ 100,035 $ 94,719