looks like we hit estimates at $.17, but we've got some profit taking today. can't really complain though, nice run-up over the last week or so -- hit three consecutive 52-week highs from jun 23-25. with the p/e pushing 80 and an expected eps growth rate of 30-35%, perhaps it got a bit ahead of itself.
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Paychex, Inc. Reports Record Year End and Fourth Quarter Results
June 30, 1998 08:04 AM
ROCHESTER, N.Y., June 30 /PRNewswire/ -- Paychex, Inc. (PAYX) today announced record net income of $102.2 million or $.62 diluted earnings per share for the year ended May 31, 1998, a 36% increase over net income of $75.2 million or $.46 diluted earnings per share for the same period last year. Total service revenues were $493.7 million, an increase of 24% over $399.7 million for the previous fiscal year.
For the quarter ended May 31, 1998, net income increased 35% to $28.1 million or $.17 diluted earnings per share as compared to net income of $20.7 million or $.13 diluted earnings per share for the same period last year. Total service revenues were $131.7 million, an increase of 23% over $106.8 million for the same period last year.
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