Paychex Inc. (PAYX: Quote) reported first-quarter net income of $153.1 million or $0.42 per share, compared to $148.9 million or $0.41 per share in the comparable quarter last year. On average, twenty analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter rose to $578.2 million from $563.1 million in the prior year quarter, while sixteen analysts had consensus revenue estimate of $584.05 million for the quarter.
For fiscal 2013, the company continues to expect net income growth of 5% - 7%, and total service revenue growth of 5% - 6%. Analysts expect the company to report earnings of $1.60 per share on revenues of $2.35 billion for fiscal 2013.
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by RTT Staff Writer
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