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Paychex, Inc. Reports First Quarter Results
Paychex, Inc. today announced total service revenue of $712.2 million for the three months ended August 31, 2015 (the “first quarter”), an increase of 8% from $656.6 million for the same period last year. Net income increased 22% to $209.1 million and diluted earnings per share increased 23% to $0.58 per share. Net income and diluted earnings per share were positively impacted by a net tax benefit recorded for income derived in prior tax years, which resulted in an increase in diluted earnings per share of approximately $0.06 for the first quarter. Excluding this net tax benefit, both net income and diluted earnings per share would have increased 11% for the first quarter.
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