Income Statement

v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Total revenues $ 233,203 $ 201,031 $ 451,648 $ 420,135
Cost of revenues:        
Total cost of revenues 175,730 154,388 363,310 347,441
Gross margin 57,473 46,643 88,338 72,694
Selling, general and administrative expenses 35,662 33,255 72,769 65,370
Depreciation and amortization 1,328 1,171 2,625 2,171
Income from operations 20,483 12,217 12,944 5,153
Other income (expense):        
Investment income, net 1,965 1,800 3,734 4,767
Interest expense (79) (306) (387) (541)
Other, net (13) 172 (4) 173
Other income, net 1,873 1,666 3,343 4,399
Income before income taxes 22,356 13,883 16,287 9,552
Provision for income taxes 5,266 2,373 3,751 1,449
Net income $ 17,090 $ 11,510 $ 12,536 $ 8,103
Basic income per common share $ 2.26 $ 1.52 $ 1.66 $ 1.07
Weighted average number of basic common shares outstanding 7,554 7,557 7,565 7,539
Diluted income per common share $ 2.24 $ 1.51 $ 1.64 $ 1.06
Weighted average number of diluted common shares outstanding 7,645 7,647 7,658 7,678
Professional Employer Service Fees [Member]        
Revenues:        
Total revenues $ 208,496 $ 180,488 $ 402,315 $ 374,080
Staffing Services [Member]        
Revenues:        
Total revenues 24,707 20,543 49,333 46,055
Direct Payroll Costs [Member]        
Cost of revenues:        
Total cost of revenues 18,498 15,796 36,948 34,873
Payroll Taxes and Benefits [Member]        
Cost of revenues:        
Total cost of revenues 111,719 93,671 234,502 213,133
Workers' Compensation [Member]        
Cost of revenues:        
Total cost of revenues $ 45,513 $ 44,921 $ 91,860 $ 99,435

Source