Barrett Business Services Inc. of Vancouver reported a $2.3 million profit loss in the first quarter that ended March 31 compared to a $9.1 million loss during the same period last year, according to results made public Tuesday.
The Vancouver-based business solutions company historically incurs first quarter losses because of higher payroll taxes at the beginning of each year.
Barrett also reported $218.2 million in quarterly revenue, down 3 percent from the $224 million during the first quarter last year. The decline was due to the first quarter of 2019 having one fewer work day when compared to the first quarter of 2018, the company said in a statement.
“The organization performed well and our results in the quarter were in line with our expectations,” president and CEO Mike Elich said in a statement. “We had a strong start to the year by adding a record 403 clients in the quarter. I am pleased with our continued progress as an organization and the value we are bringing to a growing number of small businesses.”
