Barrett Business Services, Inc. reported strong year over year increases in net income and sales in the third quarter of 2010, ending September 30, 2010.
Barrett Business Services, Inc. reported net income of $3.7 million, or $0.36 per diluted share, in the third quarter of 2010, compared to net income of $2.9 million, or $0.28 per diluted share, in the corresponding quarter of 2009.
Net sales also came in higher for Barrett Business Services, Inc., with reported net sales of $73.9 million in the third quarter of 2010, compared to $65.5 million in last year’s third quarter.
Barrett Business Services, Inc. is required to report net sales because the company does not have a primary obligation in the Professional Employer Organization segment. The company said that gross sales, which is a non GAAP reporting item, also increased on a year over year basis, from $273 million in the third quarter of 2009, to $333 million in the quarter that just ended.
Barrett Business Services, Inc. issued financial guidance for the final quarter of 2010. The company expects gross sales to be in a range from $321 million to $326 million, and diluted earnings per share to range from $0.28 to $0.32 per share.
For more information on the company, go to www.barrettbusiness.com
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