SmarTrend(R) News Watch: Paychex Misses EPS and Revenue Estimates
Wed. June 24, 2009; Posted: 04:30 PM
Jun 24, 2009 (SmarTrend(R) News Watch via COMTEX) --
PAYX |
Quote |
Chart |
News |
PowerRating -- Paychex Inc (NASDAQ:PAYX) reported Q4 EPS of $0.32, ex-items, missing consensus analyst estimates of $0.34. Revenues for the quarter fell 4.5% year-over-year to $495.9 million, falling short of consensus estimates of $510.5 million. President and CEO Johnathan Judge said, "Fiscal 2009 was one of the most challenging years in Paychex history. We were faced with many difficulties including the weakest economic conditions we have ever experienced, a severe credit crisis, and extremely low investment rates of return on our funds held for clients. Despite this, our team responded well to the challenge by delivering record levels of operating income, net of certain items. In addition, despite this volatile period, we continued to grow revenue, expand our operating margins, invest in our business, and provide excellent customer service."
Write to Chip Brian at cbrian@tradethetrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html
For full details on Paychex Inc (PAYX)
click here. Paychex Inc (PAYX) has Short Term PowerRatings of 5. Details on Paychex Inc (PAYX) Short Term PowerRatings is available at
This Link.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index