Barrett reports higher second-quarter profit

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Barrett Business Services Inc. on Tuesday reported a second-quarter profit of $3.7 million, or 53 cents per share. That's compared to a profit of $3.4 million, or 34 cents per share, in the April-to-June period in 2011.

The Vancouver-based company's second-quarter revenue was $95.5 million, up 26 percent year over year. That compares with revenue of $76 million during the second quarter of 2011.

"While we continue to mature our product offering, organizational culture and brand offering to our client base, we are seeing continued strength in our pipeline of new client additions while also maintaining very strong client retention," Michael Elich, president and CEO of Barrett, said in a news release.

Barrett Business Services provides human resource outsourcing and professional management consulting services.