Barrett Business Services, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 04:05 pm EDT
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Barrett Business Services, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 264.63 million compared to USD 262.18 million a year ago. Net income was USD 17.02 million compared to USD 18.01 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 0.63 a year ago. Diluted earnings per share from continuing operations was USD 0.6175 compared to USD 0.62 a year ago.
For the six months, revenue was USD 519.3 million compared to USD 508.55 million a year ago. Net income was USD 17.84 million compared to USD 18.3 million a year ago. Basic earnings per share from continuing operations was USD 0.655 compared to USD 0.6275 a year ago. Diluted earnings per share from continuing operations was USD 0.6425 compared to USD 0.62 a year ago.
Barrett Business Services, Inc. is a provider of business management solutions for small and mid-sized companies. It has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It operates a decentralized delivery model using operationally focused business teams, typically located approximately 50 miles from its client companies. It offers two services: professional employer services (PEO) and staffing. Under PEO, it establishes to a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers compensation and benefits coverage (if elected) and certain other administrative functions for the clients existing workforce. The staffing services include on-demand or short-term staffing assignments, contract staffing, direct placement, and long-term or indefinite-term on-site management.