v3.8.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:      
Professional employer service fees $ 758,046 $ 673,924 $ 572,286
Staffing services 162,386 166,662 168,555
Total revenues 920,432 840,586 740,841
Cost of revenues:      
Direct payroll costs 122,533 126,753 127,964
Payroll taxes and benefits 404,687 357,867 312,284
Workers' compensation 234,681 210,430 171,137
Total cost of revenues 761,901 695,050 611,385
Gross margin 158,531 145,536 129,456
Selling, general and administrative expenses 123,138 113,342 90,177
Depreciation and amortization 5,452 3,253 2,851
Income from operations 29,941 28,941 36,428
Other income (expense):      
Investment income, net 4,668 956 771
Interest expense (313) (807) (1,965)
Loss on litigation   (3,544)  
Other, net 82 40 (88)
Other income (expense), net 4,437 (3,355) (1,282)
Income before income taxes 34,378 25,586 35,146
Provision for income taxes 9,208 6,787 9,652
Net income $ 25,170 $ 18,799 $ 25,494
Basic income per common share $ 3.46 $ 2.60 $ 3.55
Weighted average number of basic common shares outstanding 7,275 7,226 7,173
Diluted income per common share $ 3.33 $ 2.55 $ 3.47
Weighted average number of diluted common shares outstanding 7,551 7,378 7,353
Cash dividends per common share $ 1.00 $ 0.88 $ 0.88

Source