Mon September 30, 2013
Paychex Quarterly Numbers Beat Expectations
Paychex posted earnings for its first quarter that beat Wall Street estimates. The company made $163 million in the quarter, up six percent compared to last year at this time. Sales rose about five percent.
The company's Chief Financial Officer, Efrain Rivera tells WXXI News that Paychex also is starting to see some additional clients due to changes looming because of the affordable care act.
"I think we're in the early stages of seeing some uplift from the affordable care act. We think that as the year progresses you should see some more benefit as the act is rolled out."
Rivera says overall, the company saw continued slow, steady progress from its clients, in terms of how they are faring in the current economy.
Paychex officials also say that they continue to look to expand internationally, most recently by expanding product offerings in Brazil.