Paychex Inc. Q4 Profit Increases, Inline With Estimates

(RTTNews) - Paychex Inc. (PAYX) released a profit for its fourth quarter that increased from the same period last year in line with the Street estimates.

The company's bottom line totaled $350.4 million, or $0.97 per share. This compares with $296.4 million, or $0.82 per share, in last year's fourth quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $350.4 million or $0.97 per share for the period.

Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.0% to $1.30 billion from $1.14 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $350.4 Mln. vs. $296.4 Mln. last year. -EPS (Q4): $0.97 vs. $0.82 last year. -Analyst Estimate: $0.97 -Revenue (Q4): $1.30 Bln vs. $1.14 Bln last year.