AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Insperity Announces Third Quarter Results

November 4, 2019

HOUSTON--(BUSINESS WIRE)--Nov 4, 2019--

Insperity, Inc. (NYSE: NSP), a leading provider of human resources and business performance solutions for America’s best businesses, today reported results for the third quarter ended Sep. 30, 2019:

Third Quarter Results

Revenues increased 13% over the third quarter of 2018 to $1.04 billion on a 12% increase in the average number of worksite employees (“WSEEs”) paid per month. Sequentially, the average paid number of worksite employees increased 4% over the second quarter of 2019.

“While Q3 large medical claim activity in our plan was disappointing, our expectations for long-term trends in sales, pricing and direct costs remain solid,” said Paul J. Sarvadi, Insperity chief executive officer and chairman. “Our fall campaign is off to an excellent start with a 13% increase in trained BPAs and a 23% increase in business profiles supporting our expectation of continuing double-digit growth in 2020.”

Gross profit increased 3% over the third quarter of 2018 to $170.5 million and included higher than expected benefits costs. Higher healthcare costs were driven primarily by large claim activity, which declined from the second quarter of 2019, but remained elevated from historical and expected levels. Other areas of gross profit, including pricing, workers’ compensation costs and payroll taxes combined to a slightly favorable outcome. Operating expenses increased 15% over the third quarter of 2018, slightly below forecasted levels, and included continued investments in our growth, technology and product and service offerings.

As a result of the elevated benefit costs, third quarter 2019 net income and diluted earnings per share (“EPS”) of $25.9 million and $0.63 represented decreases of 29% and 27%, respectively, compared to the third quarter of 2018. Adjusted EPS was $0.75, a 22% decrease over the third quarter of 2018. Adjusted EBITDA decreased 17% over the third quarter of 2018 to $51.2 million.

Year-to-Date Results

For the nine months ended Sep. 30, 2019, net income increased 18% over the first nine months of 2018 to $130.7 million, and diluted EPS increased 21% to $3.18. Adjusted EPS increased 17% over the first nine months of 2018 to $3.57. Adjusted EBITDA increased 9% over the first nine months of 2018 to $209.3 million.

Revenues for the first nine months of 2019 increased 13% to $3.2 billion, on a 14% increase in the average number of WSEEs paid per month over the 2018 period. Gross profit for the first nine months of 2019 increased 10% to $571.0 million. Operating expenses increased 10% to $412.1 million over the 2018 period and adjusted operating expenses increased 13% over the 2018 period.

Net income per WSEE per month increased 3% from $60 in the 2018 period to $62 in the 2019 period. Adjusted EBITDA per WSEE per month decreased 4% from $104 in the 2018 period to $100 in the 2019 period.

Cash outlays in the first nine months of 2019 included the repurchase of approximately 1,481,000 shares of stock at a cost of $153.7 million, dividends totaling $36.8 million and capital expenditures of $41.4 million. Adjusted cash, cash equivalents and marketable securities at Sep. 30, 2019 were $130.9 million.

“Our long-term outlook for growth and profitability remains strong,” said Douglas S. Sharp, Insperity senior vice president of finance, chief financial officer and treasurer. “With high levels of cash flow generation and a strong balance sheet, we continue to be positioned to invest in our growth, while providing exceptional returns to shareholders through our share repurchase and dividend programs.”

2019 Guidance

The company also announced its updated guidance for 2019, including the fourth quarter of 2019. Please refer to the accompanying financial tables at the end of this press release for the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures.

 

Q4 2019

 

Full Year 2019

 

 

 

 

 

 

 

 

Average WSEEs paid

244,000

246,200

 

235,700

236,300

Year-over-year increase

10%

11%

 

12.7%

13.0%

 

 

 

 

 

 

 

 

Adjusted EPS

$0.50

$0.61

 

$4.08

$4.20

Year-over-year increase (decrease)

(28)%

(12)%

 

9%

12%

 

 

 

 

 

 

 

 

Adjusted EBITDA (in millions)

$38

$44

 

$247

$253

Year-over-year increase (decrease)

(20)%

(8)%

 

3%

6%

Definition of Key Metrics

Average WSEEs paid - Determined by calculating the company’s cumulative worksite employees paid during the period divided by the number of months in the period.

Adjusted EPS - Represents diluted net income per share computed in accordance with GAAP, excluding the impact of non-cash stock-based compensation and costs associated with a one-time tax reform bonus paid to corporate employees.

Adjusted EBITDA - Represents net income computed in accordance with GAAP, plus interest expense, income taxes, depreciation and amortization expense, non-cash stock-based compensation and costs associated with a one-time tax reform bonus paid to corporate employees.

Insperity will be hosting a conference call today at 9 a.m. ET to discuss these results, provide guidance for the fourth quarter and an update to the full year guidance, and answer questions from investment analysts. To listen in, call 877-651-0053 and use conference i.d. number 9756178. The call will also be webcast at http://ir.insperity.com. The conference call script will be available at the same website later today. A replay of the conference call will be available at 855-859-2056, conference i.d. 9756178. The webcast will be archived for one year.

About Insperity

Insperity, a trusted advisor to America’s best businesses for more than 33 years, provides an array of human resources and business solutions designed to help improve business performance. Insperity ® Business Performance Advisors offer the most comprehensive suite of products and services available in the marketplace. Insperity delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity through its premier Workforce Optimization ® solution. Additional company offerings include Traditional Payroll and Human Capital Management, Time and Attendance, Performance Management, Organizational Planning, Recruiting Services, Employment Screening, Expense Management, Retirement Services and Insurance Services. Insperity business performance solutions support more than 100,000 businesses with over 2 million employees. With 2018 revenues of $3.8 billion, Insperity operates in 78 offices throughout the United States. For more information, visit http://www.insperity.com.

Forward-Looking Statements

The statements contained herein that are not historical facts are forward-looking statements within the meaning of the federal securities laws (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). You can identify such forward-looking statements by the words “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “likely,” “possibly,” “probably,” “goal,” “opportunity,” “objective,” “target,” “assume,” “outlook,” “guidance,” “predicts,” “appears,” “indicator” and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, Insperity, Inc., in an effort to help keep our stockholders and the public informed about our operations, may from time to time issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of such plans or strategies, or projections involving anticipated revenues, earnings, unit growth, profit per worksite employee, pricing, operating expenses or other aspects of operating results. We base the forward-looking statements on our expectations, estimates and projections at the time such statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. Therefore, the actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are:

These factors are discussed in further detail in Insperity’s filings with the U.S. Securities and Exchange Commission. Any of these factors, or a combination of such factors, could materially affect the results of our operations and whether forward-looking statements we make ultimately prove to be accurate.

Except to the extent otherwise required by federal securities law, we do not undertake any obligation to update our forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.

Insperity, Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

(in thousands)

September 30, 2019

 

December 31, 2018

 

 

 

 

Assets

 

 

 

Cash and cash equivalents

$

243,439

 

 

$

326,773

 

Restricted cash

45,251

 

 

42,227

 

Marketable securities

60,880

 

 

60,781

 

Accounts receivable, net

483,890

 

 

400,623

 

Prepaid insurance

22,161

 

 

8,411

 

Other current assets

26,438

 

 

27,721

 

Income taxes receivable

11,684

 

 

 

Total current assets

893,743

 

 

866,536

 

Property and equipment, net

134,956

 

 

117,213

 

Right of use leased assets

58,185

 

 

 

Prepaid health insurance

9,000

 

 

9,000

 

Deposits

176,632

 

 

172,674

 

Goodwill and other intangible assets, net

12,717

 

 

12,726

 

Deferred income taxes, net

157

 

 

8,816

 

Other assets

6,732

 

 

4,851

 

Total assets

$

1,292,122

 

 

$

1,191,816

 

 

 

 

 

Liabilities and stockholders’ equity

 

 

 

Accounts payable

$

5,373

 

 

$

10,622

 

Payroll taxes and other payroll deductions payable

180,617

 

 

261,166

 

Accrued worksite employee payroll cost

411,457

 

 

329,979

 

Accrued health insurance costs

33,239

 

 

35,153

 

Accrued workers’ compensation costs

48,927

 

 

45,818

 

Accrued corporate payroll and commissions

39,414

 

 

60,704

 

Other accrued liabilities

42,185

 

 

28,890

 

Total current liabilities

761,212

 

 

772,332

 

Accrued workers’ compensation cost, net of current

190,390

 

 

187,412

 

Long-term debt

239,400

 

 

144,400

 

Operating lease liabilities, net of current

60,132

 

 

 

Other accrued liabilities, net of current

 

 

9,996

 

Total noncurrent liabilities

489,922

 

 

341,808

 

Stockholders’ equity:

 

 

 

Common stock

555

 

 

555

 

Additional paid-in capital

46,401

 

 

36,752

 

Treasury stock, at cost

(496,917

)

 

(357,569

)

Retained earnings

490,949

 

 

397,938

 

Total stockholders’ equity

40,988

 

 

77,676

 

Total liabilities and stockholders’ equity

$

1,292,122

 

 

$

1,191,816

 

Insperity, Inc.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

(in thousands, except per share amounts)

2019

2018

Change

 

2019

2018

Change

Operating results:

 

 

 

 

 

 

 

Revenues (1)

$

1,043,388

 

$

925,126

 

12.8

%

 

$

3,239,714

 

$

2,861,793

 

13.2

%

Payroll taxes, benefits and workers’ compensation costs

872,842

 

759,072

 

15.0

%

 

2,668,716

 

2,341,475

 

14.0

%

Gross profit

170,546

 

166,054

 

2.7

%

 

570,998

 

520,318

 

9.7

%

Salaries, wages and payroll taxes

79,264

 

70,552

 

12.3

%

 

237,340

 

226,486

 

4.8

%

Stock-based compensation

6,517

 

5,769

 

13.0

%

 

20,813

 

14,656

 

42.0

%

Commissions

8,034

 

6,818

 

17.8

%

 

22,727

 

19,863

 

14.4

%

Advertising

4,895

 

3,846

 

27.3

%

 

17,474

 

13,996

 

24.8

%

General and administrative expenses

29,773

 

25,294

 

17.7

%

 

92,801

 

82,565

 

12.4

%

Depreciation and amortization

7,330

 

5,642

 

29.9

%

 

20,929

 

16,335

 

28.1

%

Total operating expenses

135,813

 

117,921

 

15.2

%

 

412,084

 

373,901

 

10.2

%

Operating income

34,733

 

48,133

 

(27.8

)%

 

158,914

 

146,417

 

8.5

%

Other income (expense):

 

 

 

 

 

 

 

Interest income

2,574

 

2,028

 

26.9

%

 

8,621

 

5,291

 

62.9

%

Interest expense

(2,122

)

(1,174

)

80.7

%

 

(5,442

)

(3,352

)

62.4

%

Income before income tax expense

35,185

 

48,987

 

(28.2

)%

 

162,093

 

148,356

 

9.3

%

Income tax expense

9,326

 

12,780

 

(27.0

)%

 

31,389

 

37,598

 

(16.5

)%

Net income

$

25,859

 

$

36,207

 

(28.6

)%

 

$

130,704

 

$

110,758

 

18.0

%

Less distributed and undistributed earnings allocated to participating securities

(284

)

(503

)

(43.5

)%

 

(1,546

)

(1,546

)

 

Net income allocated to common shares

$

25,575

 

$

35,704

 

(28.4

)%

 

$

129,158

 

$

109,212

 

18.3

%

 

 

 

 

 

 

 

 

Net income per share of common stock

 

 

 

 

 

 

 

Basic

$

0.64

 

$

0.86

 

(25.6

)%

 

$

3.19

 

$

2.64

 

20.8

%

Diluted

$

0.63

 

$

0.86

 

(26.7

)%

 

$

3.18

 

$

2.63

 

20.9

%

____________________________________

(1)

Revenues are comprised of gross billings less WSEE payroll costs as follows:

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

(in thousands)

2019

2018

 

2019

2018

 

 

 

 

 

 

Gross billings

$

6,555,865

 

$

5,810,779

 

 

$

19,804,549

 

$

17,284,477

 

Less: WSEE payroll cost

5,512,477

 

4,885,653

 

 

16,564,835

 

14,422,684

 

Revenues

$

1,043,388

 

$

925,126

 

 

$

3,239,714

 

$

2,861,793

 

Insperity, Inc.

KEY FINANCIAL AND STATISTICAL DATA

(Unaudited)

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

2019

2018

Change

 

2019

2018

Change

 

 

 

 

 

 

 

 

Average WSEEs paid

240,939

 

215,051

 

12.0

%

 

232,825

 

204,895

 

13.6

%

Statistical data (per WSEE per month):

 

 

 

 

 

 

 

Revenues (1)

$

1,444

 

$

1,434

 

0.7

%

 

$

1,546

 

$

1,552

 

(0.4

)%

Gross profit

236

 

257

 

(8.2

)%

 

272

 

282

 

(3.5

)%

Operating expenses

188

 

183

 

2.7

%

 

197

 

203

 

(3.0

)%

Operating income

48

 

75

 

(36.0

)%

 

76

 

79

 

(3.8

)%

Net income

36

 

56

 

(35.7

)%

 

62

 

60

 

3.3

%

____________________________________

(1)

Revenues per WSEE per month are comprised of gross billings per WSEE per month less WSEE payroll costs per WSEE per month follows:

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

(per WSEE per month)

2019

2018

 

2019

2018

Gross billings

$

9,070

 

$

9,007

 

 

$

9,451

 

$

9,373

 

Less: WSEE payroll cost

7,626

 

7,573

 

 

7,905

 

7,821

 

Revenues

$

1,444

 

$

1,434

 

 

$

1,546

 

$

1,552

 

Insperity, Inc.

Non-GAAP Financial Measures

(Unaudited)

 

Non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of the non-GAAP financial measures used to their most directly comparable GAAP financial measures as provided in the tables below.

Non-GAAP MeasureDefinitionBenefit of Non-GAAP Measure

Non-bonus payroll cost

Non-bonus payroll cost is a non-GAAP financial measure that excludes the impact of bonus payrolls paid to our WSEEs.

 

Bonus payroll cost varies from period to period, but has no direct impact to our ultimate workers’ compensation costs under the current program.

Our management refers to non-bonus payroll cost in analyzing, reporting and forecasting our workers’ compensation costs.

 

We include these non-GAAP financial measures because we believe they are useful to investors in allowing for greater transparency related to the costs incurred under our current workers’ compensation program.

Adjusted cash, cash equivalents and marketable securities

Excludes funds associated with:

• federal and state income tax withholdings,

• employment taxes,

• other payroll deductions, and

• client prepayments.

We believe that the exclusion of the identified items helps us reflect the fundamentals of our underlying business model and analyze results against our expectations, against prior periods, and to plan for future periods by focusing on our underlying operations. We believe that the adjusted results provide relevant and useful information for investors because they allow investors to view performance in a manner similar to the method used by management and improves their ability to understand and assess our operating performance. Adjusted EBITDA is used by our lenders to assess our leverage and ability to make interest payments.

 

 

Adjusted operating expense

Represents operating expenses excluding the impact of the following:

• costs associated with a one-time tax reform bonus paid to corporate employees.

 

 

EBITDA

Represents net income computed in accordance with GAAP, plus:

• interest expense,

• income tax expense, and

• depreciation and amortization expense.

 

 

Adjusted EBITDA

Represents EBITDA plus:

• non-cash stock-based compensation, and

• costs associated with a one-time tax reform bonus paid to corporate employees.

 

 

Adjusted Net Income

Represents net income computed in accordance with GAAP, excluding:
• non-cash stock-based compensation, and
• costs associated with a one-time tax reform bonus paid to corporate employees.

 

 

Adjusted EPS

Represents diluted net income per share computed in accordance with GAAP, excluding:
• non-cash stock-based compensation, and
• costs associated with a one-time tax reform bonus paid to corporate employees.

Following is a reconciliation of payroll cost (GAAP) to non-bonus payroll costs (non-GAAP):

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

(in thousands, except per WSEE per month)

2019

 

2018

 

2019

 

2018

$

WSEE

 

$

WSEE

 

$

WSEE

 

$

WSEE

 

 

 

 

 

 

 

 

 

 

 

 

Payroll cost

$

5,512,477

 

$

7,626

 

 

$

4,885,653

 

$

7,573

 

 

$

16,564,835

 

$

7,905

 

 

$

14,422,684

 

$

7,821

 

Less: Bonus payroll cost

408,931

 

566

 

 

434,942

 

674

 

 

1,851,338

 

884

 

 

1,638,028

 

888

 

Non-bonus payroll cost

$

5,103,546

 

$

7,060

 

 

$

4,450,711

 

$

6,899

 

 

$

14,713,497

 

$

7,021

 

 

$

12,784,656

 

$

6,933

 

% Change period over period

14.7

%

2.3

%

 

17.4

%

1.9

%

 

15.1

%

1.3

%

 

16.8

%

2.8

%

Following is a reconciliation of cash, cash equivalents and marketable securities (GAAP) to adjusted cash, cash equivalents and marketable securities (non-GAAP):

(in thousands)

September 30, 2019

 

December 31, 2018

 

 

 

 

Cash, cash equivalents and marketable securities

$

304,319

 

 

$

387,554

 

Less:

 

 

 

Amounts payable for withheld federal and state income taxes, employment taxes and other payroll deductions

153,761

 

 

224,487

 

Client prepayments

19,699

 

 

34,177

 

Adjusted cash, cash equivalents and marketable securities

$

130,859

 

 

$

128,890

 

Following is a reconciliation of operating expenses (GAAP) to adjusted operating expenses (non-GAAP):

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

(in thousands, except per WSEE per month)

2019

 

2018

 

2019

 

2018

$

WSEE

 

$

WSEE

 

$

WSEE

 

$

WSEE

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

$

135,813

 

$

188

 

 

$

117,921

 

$

183

 

 

$

412,084

 

$

197

 

 

$

373,901

 

$

203

 

Less:

 

 

 

 

 

 

 

 

 

 

 

One-time tax reform bonus

 

 

 

 

 

 

 

 

 

9,306

 

5

 

Adjusted operating expenses

$

135,813

 

$

188

 

 

$

117,921

 

$

183

 

 

$

412,084

 

$

197

 

 

$

364,595

 

$

198

 

% Change period over period

15.2

%

2.7

%

 

8.2

%

(6.2

)%

 

13.0

%

(0.5

)%

 

13.1

%

 

Following is a reconciliation of net income (GAAP) to EBITDA (non-GAAP) and adjusted EBITDA (non-GAAP):

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

(in thousands, except per WSEE per month)

2019

 

2018

 

2019

 

2018

$

WSEE

 

$

WSEE

 

$

WSEE

 

$

WSEE

 

 

 

 

 

 

 

 

 

 

 

 

Net income

$

25,859

 

$

36

 

 

$

36,207

 

$

56

 

 

$

130,704

 

$

62

 

 

$

110,758

 

$

60

 

Income tax expense

9,326

 

13

 

 

12,780

 

20

 

 

31,389

 

15

 

 

37,598

 

20

 

Interest expense

2,122

 

3

 

 

1,174

 

2

 

 

5,442

 

3

 

 

3,352

 

2

 

Depreciation and amortization

7,330

 

10

 

 

5,642

 

8

 

 

20,929

 

10

 

 

16,335

 

9

 

EBITDA

44,637

 

62

 

 

55,803

 

86

 

 

188,464

 

90

 

 

168,043

 

91

 

Stock-based compensation

6,517

 

9

 

 

5,769

 

9

 

 

20,813

 

10

 

 

14,656

 

8

 

One-time tax reform bonus

 

 

 

 

 

 

 

 

 

9,306

 

5

 

Adjusted EBITDA

$

51,154

 

$

71

 

 

$

61,572

 

$

95

 

 

$

209,277

 

$

100

 

 

$

192,005

 

$

104

 

% Change period over period

(16.9

)%

(25.3

)%

 

42.8

%

23.4

%

 

9.0

%

(3.8

)%

 

38.0

%

20.9

%

Following reconciliation of net income (GAAP) to adjusted net income (non-GAAP):

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

(in thousands)

2019

2018

 

2019

2018

 

 

 

 

 

 

Net income

$

25,859

 

$

36,207

 

 

$

130,704

 

$

110,758

 

Non-GAAP adjustments:

 

 

 

 

 

Stock-based compensation

6,517

 

5,769

 

 

20,813

 

14,656

 

One-time tax reform bonus

 

 

 

 

9,306

 

Total non-GAAP adjustments

6,517

 

5,769

 

 

20,813

 

23,962

 

Tax effect

(1,728

)

(1,505

)

 

(4,818

)

(6,022

)

Adjusted net income

$

30,648

 

$

40,471

 

 

$

146,699

 

$

128,698

 

% Change period over period

(24.3

)%

68.1

%

 

14.0

%

60.9

%

Following is a reconciliation of diluted EPS (GAAP) to adjusted EPS (non-GAAP):

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

2019

2018

 

2019

2018

 

 

 

 

 

 

Diluted EPS

$

0.63

 

$

0.86

 

 

$

3.18

 

$

2.63

 

Non-GAAP adjustments:

 

 

 

 

 

Stock-based compensation

0.16

 

0.14

 

 

0.51

 

0.35

 

One-time tax reform bonus

 

 

 

 

0.22

 

Total non-GAAP adjustments

0.16

 

0.14

 

 

0.51

 

0.57

 

Tax effect

(0.04

)

(0.04

)

 

(0.12

)

(0.14

)

Adjusted EPS

$

0.75

 

$

0.96

 

 

$

3.57

 

$

3.06

 

% Change period over period

(21.9

)%

68.4

%

 

16.7

%

61.1

%

The following is a reconciliation of GAAP to non-GAAP financial measures for fourth quarter and full year 2019 guidance:

(in millions, except per share amounts)

 

Q4 2019
Guidance

 

 

Full Year 2019
Guidance

 

 

 

 

 

 

 

 

Net income

 

$15 - $19

 

 

$145 - $149

 

Income tax expense

 

6 - 8

 

 

37 - 39

 

Interest expense

 

3

 

 

9

 

Depreciation and amortization

 

7

 

 

28

 

EBITDA

 

31 - 37

 

 

219 - 225

 

Stock-based compensation

 

7

 

 

28

 

Adjusted EBITDA

 

$38 - $44

 

 

$247 - $253

 

 

 

 

 

 

 

 

Diluted net income per share of common stock

 

$0.37 - $0.48

 

 

$3.54 - $3.66

 

Non-GAAP adjustments:

 

 

 

 

 

 

Stock-based compensation

 

0.18

 

 

0.68

 

Total non-GAAP adjustments

 

0.18

 

 

0.68

 

Tax effect

 

(0.05

)

 

(0.14

)

Adjusted EPS

 

$0.50 - $0.61

 

 

$4.08 - $4.20

 

 

View source version on businesswire.com:https://www.businesswire.com/news/home/20191104005128/en/

CONTACT: Investor Relations Contact:

Douglas S. Sharp

Senior Vice President of Finance,

Chief Financial Officer and Treasurer

(281) 348-3232

Investor.Relations@Insperity.comNews Media Contact:

Suzanne Haugen

Public Relations Manager

(281) 312-3543

Media@Insperity.com

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES SMALL BUSINESS OTHER PROFESSIONAL SERVICES INSURANCE HUMAN RESOURCES FINANCE

SOURCE: Insperity, Inc.

Copyright Business Wire 2019.

PUB: 11/04/2019 08:15 AM/DISC: 11/04/2019 08:15 AM

http://www.businesswire.com/news/home/20191104005128/en