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Paychex reports higher fiscal Q3 net income YOY

PaychexInc. on March 30 reported net income of $180.4 million, or 50 centsper share, for the fiscal third quarter ended Feb. 29, compared to $169.4million, or 46 cents per share, in the year-ago quarter.

The S&P Global MarketIntelligence consensus GAAP EPS estimate for the quarter was 50 cents.

Revenues also increased year overyear to $752.6 million from $704.3 million.

For the fiscal year ending May 31,Paychex continues toexpect net income growth of 8% to 9%. The guidance excludes theimpact of the net tax benefit related to prior tax years recorded in its fiscalfirst quarter.