Paychex Inc. Q4 Profit Drops, Inline With Estimates

(RTTNews) - Paychex Inc. (PAYX) revealed earnings for fourth quarter that decreased from the same period last year in line with the Street estimates.

The company's bottom line came in at $297.2 million, or $0.82 per share. This compares with $379.9 million, or $1.05 per share, last year.

Excluding items, Paychex Inc. reported adjusted earnings of $429.6 million or $1.19 per share for the period.

Analysts on average had expected the company to earn $1.19 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 10.2% to $1.427 billion from $1.295 billion last year.

Paychex Inc. earnings at a glance (GAAP) :

-Earnings: $297.2 Mln. vs. $379.9 Mln. last year. -EPS: $0.82 vs. $1.05 last year. -Revenue: $1.427 Bln vs. $1.295 Bln last year.