Paychex Inc. said Wednesday its fiscal third-quarter profit slid 14 percent on lower payroll service revenue brought about by the tough economy's effect on its client base. Paychex Inc. trades on the “NASDAQ” under the stock symbol “PAYX”. For More information regarding “PAYX”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
Join today and be part of the best free investment newsletter on the web where we focus on market moving news.
Paychex Inc. (NASDAQ:PAYX) said Wednesday its fiscal third-quarter profit slid 14 percent on lower payroll service revenue brought about by the tough economy's effect on its client base.
The payroll and personnel services provider said it earned $112 million, or 31 cents per share, compared with $130.8 million, or 36 cents per share, in the third quarter the year before.
Total revenue was $507.8 million, down 4 percent from $528.6 million in the year-ago period. Payroll service revenue dipped 6 percent to $358.3 million for the quarter ended Feb. 28.
You can contact us during market hours at 1-888-9-ClubGrand (1888-925-8247) or via email at staff@wallstreetgrand.com.
Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including 2009 growth, revenue for the second quarter and year of 2009 and gross margin for the second quarter and year of 2009. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets.
Disclaimer:
Wall Street Grand LLC has not been compensated by the company for this press release and does not expect to be compensated in the future for any type of awareness. To read our full disclaimer clicks the link http://www.wallstreetgrand.com/disclosure.html
