Income Statement

v3.22.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Total revenues $ 262,179 $ 233,203 $ 508,554 $ 451,648
Cost of revenues:        
Total cost of revenues 195,294 175,730 401,316 363,310
Gross margin 66,885 57,473 107,238 88,338
Selling, general and administrative expenses 42,272 35,662 82,437 72,769
Depreciation and amortization 1,523 1,328 3,031 2,625
Income from operations 23,090 20,483 21,770 12,944
Other income (expense):        
Investment income, net 1,568 1,965 3,206 3,734
Interest expense (33) (79) (67) (387)
Other, net 19 (13) 51 (4)
Other income, net 1,554 1,873 3,190 3,343
Income before income taxes 24,644 22,356 24,960 16,287
Provision for income taxes 6,630 5,266 6,658 3,751
Net income $ 18,014 $ 17,090 $ 18,302 $ 12,536
Basic income per common share $ 2.52 $ 2.26 $ 2.51 $ 1.66
Weighted average number of basic common shares outstanding 7,162 7,554 7,284 7,565
Diluted income per common share $ 2.48 $ 2.24 $ 2.48 $ 1.64
Weighted average number of diluted common shares outstanding 7,257 7,645 7,365 7,658
Professional Employer Service Fees [Member]        
Revenues:        
Total revenues $ 232,174 $ 208,496 $ 449,607 $ 402,315
Staffing Services [Member]        
Revenues:        
Total revenues 30,005 24,707 58,947 49,333
Direct Payroll Costs [Member]        
Cost of revenues:        
Total cost of revenues 22,458 18,498 44,379 36,948
Payroll Taxes and Benefits [Member]        
Cost of revenues:        
Total cost of revenues 126,353 111,719 262,218 234,502
Workers' Compensation [Member]        
Cost of revenues:        
Total cost of revenues $ 46,483 $ 45,513 $ 94,719 $ 91,860

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