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UPDATE 1-Insperity 1st-qtr profit beats estimates
April 30, 2012 / 11:31 AM / 5 years ago

UPDATE 1-Insperity 1st-qtr profit beats estimates

* Q1 EPS $0.54 vs est $0.51

* Q1 rev $595.2 mln vs est $601.5 mln

April 30 (Reuters) - Human resources services provider Insperity Inc posted a quarterly profit above analysts’ expectations, as customers stepped up hiring.

The average number of worksite employees paid per month rose 9 percent for the first quarter, the company said.

“These are outstanding results, particularly in light of a weakening labor market,” CEO Paul Sarvadi said in a statement.

Net income rose to $13.9 million, or 54 cents per share, from $8.8 million, or 33 cents per share, a year ago.

Revenue rose 11 percent to $595.2 million.

Analysts on average had expected earnings of 51 cents per share on revenue of $601.5 million, according to Thomson Reuters I/B/E/S.

The company’s shares, which have gained 47 percent in value since touching a year-low in September, closed at $29.32 on Friday on the New York Stock Exchange.

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