Paychex Inc. Q4 Profit Increases, Beats Estimates

(RTTNews) - Paychex Inc. (PAYX) reported earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $379.9 million, or $1.05 per share. This compares with $350.4 million, or $0.97 per share, in last year's fourth quarter.

Excluding items, Paychex Inc. reported adjusted earnings of $404.1 million or $1.12 per share for the period.

Analysts on average had expected the company to earn $1.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.7% to $1.30 billion from $1.23 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $379.9 Mln. vs. $350.4 Mln. last year. -EPS (Q4): $1.05 vs. $0.97 last year. -Revenue (Q4): $1.30 Bln vs. $1.23 Bln last year.