v3.19.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Total revenues $ 230,982 $ 231,603 $ 449,197 $ 455,579
Cost of revenues:        
Total cost of revenues 175,863 183,123 365,731 390,836
Gross margin 55,119 48,480 83,466 64,743
Selling, general and administrative expenses 39,005 35,614 72,165 65,043
Depreciation and amortization 970 1,274 1,939 2,278
Income (loss) from operations 15,144 11,592 9,362 (2,578)
Other income (expense):        
Investment income, net 3,332 2,201 6,404 4,220
Interest expense (481) (68) (958) (110)
Other, net   (12) 12 4
Other income, net 2,851 2,121 5,458 4,114
Income before income taxes 17,995 13,713 14,820 1,536
Provision for (benefit from) income taxes 4,088 2,473 3,213 (581)
Net income $ 13,907 $ 11,240 $ 11,607 $ 2,117
Basic income per common share $ 1.88 $ 1.54 $ 1.57 $ 0.29
Weighted average number of basic common shares outstanding 7,410 7,310 7,408 7,307
Diluted income per common share $ 1.81 $ 1.46 $ 1.51 $ 0.28
Weighted average number of diluted common shares outstanding 7,692 7,675 7,674 7,658
Professional Employer Service Fees [Member]        
Revenues:        
Total revenues $ 203,157 $ 197,277 $ 393,684 $ 386,239
Staffing Services [Member]        
Revenues:        
Total revenues 27,825 34,326 55,513 69,340
Direct Payroll Costs [Member]        
Cost of revenues:        
Total cost of revenues 20,992 26,020 41,834 52,423
Payroll Taxes and Benefits [Member]        
Cost of revenues:        
Total cost of revenues 101,697 98,249 216,494 222,437
Workers' Compensation [Member]        
Cost of revenues:        
Total cost of revenues $ 53,174 $ 58,854 $ 107,403 $ 115,976

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