Barrett Business Services, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
March 01, 2023 at 04:05 pm EST
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Barrett Business Services, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported revenue was USD 271.95 million compared to USD 256.57 million a year ago. Net income was USD 11.53 million compared to USD 10.61 million a year ago. Basic earnings per share from continuing operations was USD 1.67 compared to USD 1.42 a year ago. Diluted earnings per share from continuing operations was USD 1.64 compared to USD 1.4 a year ago.
For the full year, revenue was USD 1,054.33 million compared to USD 955.17 million a year ago. Net income was USD 47.27 million compared to USD 38.08 million a year ago. Basic earnings per share from continuing operations was USD 6.63 compared to USD 5.05 a year ago. Diluted earnings per share from continuing operations was USD 6.54 compared to USD 5 a year ago.
Barrett Business Services, Inc. is a provider of business management solutions for small and mid-sized companies. It has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It operates a decentralized delivery model using operationally focused business teams, typically located approximately 50 miles from its client companies. It offers two services: professional employer services (PEO) and staffing. Under PEO, it establishes to a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers compensation and benefits coverage (if elected) and certain other administrative functions for the clients existing workforce. The staffing services include on-demand or short-term staffing assignments, contract staffing, direct placement, and long-term or indefinite-term on-site management.
BARRETT BUSINESS SERVICES, INC. 
