Wednesday, 14 March 2012

Administaff shares soar after report of 1Q profit

Shares of Administaff Inc. surged Monday after the human resources services company reported a surprise profit for the first quarter.

The stock soared $4.84, or 21.9 percent, to $26.98 in afternoon trading. The stock has ranged from $16.45 to $30.65 over the past year.

The Houston-based company said it earned $2.3 million, or 9 cents per share, compared with $8.2 million, or 33 cents per share, in the same period a year ago.

On averaga, analysts polled by Thomson Reuters expected a loss of 7 cents per share.

Revenue was $457.7 million, up from $462 million in the same period last year. Analysts had expected $425 million in revenue.

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