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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (10751)	6/29/1998 10:42:00 AM
From: Andreas Labrakis	Read Replies (1) \| Respond to of 120523

Jenna Any news on why ONSL is weaker this morning?

To: Jenna who wrote (10751)	6/30/1998 3:18:00 PM
From: Jenna	Respond to of 120523

PAYX is doing the BBBY shuffle. This company will most likely comeback after this current selling shakeout. Paychex, Inc. Reports Record Year End and Fourth Quarter Results<PAYX.O> Paychex, Inc. Reports Record Year End and Fourth Quarter Results ROCHESTER, N.Y., June 30 /PRNewswire/ -- Paychex, Inc. (Nasdaq: 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. Effective May 31, 1998, Paychex, Inc., adopted Statement of Financial Accounting Standards No. 131, "Disclosures about Segments of an Enterprise and Related Information." The Statement requires the Company to report segment financial information consistent with the presentation made to the Company's management for decision-making purposes. Prior quarter and year segment disclosures have been restated to be consistent with the fourth quarter and year ended May 31, 1998. PAYROLL SEGMENT For the year ended May 31, 1998, operating income from payroll services increased 33% to $180.3 million from $135.4 million for the same period last year. Payroll service revenue was $455.2 million, an increase of 23% over $368.9 million for the same period last year. For the quarter ended May 31, 1998, operating income from payroll services increased 29% to $46.7 million from $36.2 million for the fourth quarter last year. Payroll service revenue was $119.6 million, an increase of 21% over $98.9 million for the fourth quarter last year. .