Barrett Business Services returns to profitability
Thursday, April 28, 2011
Vancouver — Barrett Business Services Inc. has posted a first-quarter profit of $5.5 million, or 54 cents per diluted share. That compares with a loss of $1.7 million, or 16 cents per diluted share, during the same period a year ago.
The human resources company’s first-quarter revenue was $68.8 million, up 18 percent year-over-year. First-quarter income included $10 million in proceeds from a life insurance policy the company carried on president and CEO William Sherertz, who died Jan. 20. Barrett provides temporary staffing services as well as human resource needs for small- to medium-sized businesses.