Gevity HR Sees Doubling of Earnings from Last Year

Gevity HR(R) (Nasdaq: GVHR) announced yesterday earnings per share of $0.12 for the first quarter ended March 31, 2003, compared to $0.05 for the first quarter of 2002. Revenues for the first quarter of 2003 were $102.8 million, as compared with $91.1 million in the first quarter of 2002. The 12.8% growth was realized primarily through the "Client First" initiative implemented by the company on September 4, 2002. Under this initiative, the company has repriced substantially all of its clients based on further awareness of incremental services offered and more streamlined service delivery. Co...