Despite 4Q loss, Barrett nearly doubles yearly profit

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Barrett Business Services Inc. on Monday reported a fourth-quarter loss of $93,000, or 1 cent per diluted share. That compares with a profit of $3.1 million, or 31 cents per diluted share, during the fourth quarter of 2010.

The October to December loss stemmed from an $8.5 million increase in the Vancouver company’s worker’s compensation reserve.

The company’s fourth-quarter revenue was $84.7 million, up 15 percent year-over-year.

For all of 2011, BBSI reported a profit of $14.3 million, or $1.42 per share. That compares with a profit of $7.4 million, or 72 cents per share, for all of 2010.

Revenue for 2011 was $314.9 million, up 15 percent from $273.1 million in 2010. BBSI provides human resource outsourcing and professional management consulting services.