Barrett Adds 229 new Clients in Q1, Loses $5.8M

Barrett Business Services, a professional employer organization which lost $27 million last year amid an $80 million reserve boost to cover workers' compensation liabilities, added 229 new clients in the first quarter of 2015. The company reported a net loss of $5.8 million in the first quarter of 2015 in its first earnings report of the year, but noted that it usually incurs a loss around tax season – as a PEO, it pays taxes on behalf of its clients. BBSI lost $3.6 million in the first quarter of 2014. But the addition of 229 new clients during the first quarter is a company ...