Paychex, Inc. Reports First Quarter EPS of $.36

Paychex, Inc. PAYX today announced total revenue of $518.3 million for the three months ended August 31, 2010, an increase of 4% from $500.2 million for the same period last year. Net income increased 7% to $131.9 million and diluted earnings per share increased 6% to $0.36 per share. FIRST QUARTER FISCAL 2011 HIGHLIGHTS --Payroll service revenue increased 2% to $360.7 million. Human Resource Services revenue increased 10% to $145.5 million. --Operating income increased 6% to $200.8 million, while interest on funds held for clients decreased 12% to $12.1 million. --Operating income, net of certain items, increased 7% to $188.7 million. --Net income increased 7% to $131.9 million and diluted earnings per share increased 6% to $0.36 per share. --Cash flow from operations was $194.3 million, up 4% from a year ago.