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BBSI Reports Third-Quarter 2014 Financial Results

BBSI News Release (10/28/2014)

Barrett Business Services Inc. reported gross revenues of $900.2 million for the third quarter of 2014, up 18.0% from $764.1 million in the third quarter of 2013. Net revenues totaled $175 million, up 18.0% from $145 million in the year-ago quarter. The company posted a net loss of $37.8 million, compared with net income of $9 million in the 2013 third quarter. However, excluding $80.0 million for an increase in workers’ compensation reserves ($47.9 million after tax), the company reported net income increased 20.0% to $10.1 million.

Revenues totaled $851.6 million for professional employer services, up 17.9% from $722.4 million, and $48.5 million for staffing services, up 16.3% from $41.7 million.