Barrett Business Services Inc., the Vancouver-based supplier of staffing and outsourced human resources services, said Wednesday it recorded a second-quarter profit of $8.7 million. That compares with a profit of $7.3 million in the April-to-June period of 2014.
Meanwhile, the company posted second-quarter net revenues of $182.39 million, up 20 percent from the year-ago period. During an earnings conference call, company leaders said the positive results reflected strong sales growth from existing clients and a net gain of 201 clients, among other factors.
Michael Elich, president and CEO of Barrett, said the company’s “general market outlook is strong” and that its retention of clients is “north of 90 percent.”
At the same time, the company’s accounting practices remain under investigation by the U.S. Securities and Exchange Commission in a case concerning Barrett’s workers’ compensation reserves. James Miller, the company’s chief financial officer, said Tuesday that Barrett has provided the SEC “with thousands of documents and emails, and maintained an open dialogue” with the federal agency.