Paychex, Inc. (NASDAQ:PAYX) yesterday announced net income of $80.3 million, or $.21 diluted earnings per share, for the quarter ended August 31, 2003, a 6% increase over net income of $75.9 million, or $.20 diluted earnings per share, for the same period last year. Total revenues were $309.3 million, a 22% increase over $252.7 million for the first quarter last year.
In fiscal 2003, Paychex acquired two payroll service providers servicing small- to medium-sized businesses in the United States. Paychex acquired Advantage Payroll Services, Inc. ("Advantage") on September 20, 2002 and InterPay...
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