Administaff has been helping businesses get down to business for more than 16 years. We're proud to provide high-performance human resources solutions and administrative relief for busy business owners who want to spend more time building a business and less time with the employer obligations of running that business. 

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Administaff Announces Second Quarter Results 
-- Q2 revenues increase 12% on 7% unit growth
-- Year-to-date earnings per share increases 19%
-- Trained sales staff increases 15%
HOUSTON, Aug 01, 2008 (BUSINESS WIRE) -- Administaff, Inc. (NYSE:ASF), a leading provider of human resources services for small and medium-sized businesses, today announced results for the second quarter and six months ended June 30, 2008. The company reported 2008 second quarter net income of $11.0 million, or $0.43 diluted earnings per share. For the six months ended June 30, 2008, the company reported net income of $24.1 million, or $0.94 diluted earnings per share.
Second Quarter Results 
Revenues for the second quarter of 2008 increased 11.6% over the 2007 period to $420.5 million, due to a 7.2% increase in the average number of worksite employees paid per month and a 4.1% increase in revenues per worksite employee per month. 
"Solid execution over the first half of the year has allowed us to make investments in our sales expansion and product and service enhancements while achieving strong profitability," said Paul J. Sarvadi, Administaff chairman and chief executive officer. "These investments, which include a 15% increase in trained sales staff, should allow us to continue to grow in the current economic environment and to accelerate our growth rate as the economy improves." 
Gross profit increased 7.1% to $84.1 million from $78.5 million in the second quarter of 2007. The 2007 period included a $3.3 million administrative fee credit negotiated under the current three-year contract with UnitedHealthcare. The gross profit increase, excluding this credit, was 11.8%. 
Operating expenses for the quarter increased 13.9% to $68.5 million, and included expenses associated with the company's sales expansion, development of its middle-market sales and service initiative, development of HRTools software products, and integration of its second quarter acquisition of USDatalink, an employment screening services company. 
As a result of these investments and last year's administrative fee credit, operating income for the second quarter of 2008 decreased 15.0% to $15.6 million, with an average operating income per worksite employee per month of $45 compared to $56 in the 2007 period. The administrative fee credit added $10 in the 2007 period. 
Year-to-Date Results 
Year-to-date revenues were $876.5 million, an 11.7% increase over the 2007 period, due to a 7.7% increase in the average number of worksite employees paid per month and a 3.8% increase in revenues per worksite employee per month. Gross profit for the six months ended June 30, 2008 increased 16.5% to $170.7 million. The average gross profit per worksite employee per month increased 8.3% over the 2007 period.
Year-to-date operating expenses increased 16.0% to $137.1 million. On a per worksite employee per month basis, operating expenses increased 7.6% over the 2007 period. The resulting operating income for the six months ended June 30, 2008, was $33.6 million compared to $28.3 million in the 2007 period.
EBITDA for the first half of the year increased 8.7% over 2007 to $45.4 million. During the period, the company returned $22.2 million to shareholders, including share repurchases of $16.5 million and dividends of $5.7 million. 

Administaff Announces Record Earnings Per Share 
Earnings per share increase 70% on 12% revenue growth 
Operating income increases 79% 
EBITDA increases 44% to $24 million 
HOUSTON, May 01, 2008 (BUSINESS WIRE) -- Administaff, Inc. (NYSE:ASF), a leading provider of human resources services for small and medium-sized businesses, today announced a 70.0% increase in diluted earnings per share to $0.51 compared to $0.30 in the first quarter of 2007. Net income increased to $13.2 million from $8.4 million in the 2007 period.
"Our record results, in the face of a slowing economy, confirm the strength and resiliency of our business model," said Paul J. Sarvadi, Administaff chairman and chief executive officer. "Although we are experiencing slightly slower unit growth, we are meeting our profitability targets due to effective pricing and direct cost management. As these trends continue for the balance of the year, we will make the investments necessary to accelerate growth and profitability in 2009." 
Revenues for the first quarter of 2008 increased 11.8% over the 2007 period to $456.1 million, due to an 8.3% increase in the average number of worksite employees paid per month and a 3.3% increase in revenues per worksite employee per month. 
Gross profit increased 27.2% over the first quarter of 2007 to $86.6 million on the growth in the average number of worksite employees paid and an increase in the average gross profit per worksite employee per month to $254 from $216 in the 2007 period. These results were at the high end of the company's forecasted range primarily due to a higher-than-expected surplus from payroll taxes. 
Operating expenses for the quarter increased 18.2% to $68.6 million, slightly below the low end of the company's expected range, and included expected costs associated with the company's sales expansion, middle-market and HRTools.com initiatives. 
Operating income for the first quarter of 2008 increased 79.4% to $18.0 million, with an average operating income per worksite employee per month of $53 compared to $32 in the 2007 period. 
EBITDA for the first quarter was $24.1 million. Cash outlays included share repurchases of $15.0 million, capital expenditures of $4.8 million and dividends of $2.9 million.

Administaff Announces Solid Third Quarter Results
    --  Revenues increase 13% on 10% unit growth
    --  Operating expense per worksite employee declines 3%
    --  Share repurchases continue on strong cash flow
HOUSTON--(BUSINESS WIRE)--Nov. 1, 2007--Administaff, Inc. (NYSE:ASF), a leading provider of human resources services for small and medium-sized businesses, today announced results for the third quarter and nine months ended September 30, 2007. The company reported third quarter net income of $12.2 million in the 2007 period, up from $12.1 million in the 2006 period. Diluted earnings per share increased to $0.45 from $0.43 in the 2006 period.
Third Quarter Results
Revenues for the third quarter of 2007 increased 13.3% over the 2006 period to $383.4 million, due to a 9.7% increase in the average number of worksite employees paid per month and a 3.3% increase in revenues per worksite employee per month.
"We are pleased with the unit growth acceleration we experienced during the quarter," said Paul J. Sarvadi, Administaff chairman and chief executive officer. "Our fall selling and retention campaign is off to a good start as we lay the foundation for a successful 2008."
Gross profit increased 4.4% over the third quarter of 2006 to $75.0 million, due primarily to the growth in the average number of worksite employees paid. As expected, the average gross profit per worksite employee per month of $222 declined on higher benefits costs compared to the 2006 period; however, exceeded the high end of our forecasted range for the quarter.
Operating expenses for the quarter increased 6.6% to $59.2 million, and included the planned addition of sales and service personnel and an accrual for incentive compensation due to better-than-expected operating results. Operating expenses per worksite employee per month declined 2.8% from $181 in the 2006 period to $176 in the 2007 period.
Operating income for the third quarter of 2007 decreased 3.1% to $15.8 million, with an average operating income per worksite employee per month of $47 compared to $53 in the 2006 period.
EBITDA for the third quarter was $22.6 million. Cash outlays included capital expenditures of $4.0 million, dividends of $2.9 million and share repurchases of $13.4 million.
Year-to-Date Results
For the nine months ended September 30, 2007, the company reported a 3.1% increase in net income to $34.2 million compared to $33.2 million in the same period in 2006. Diluted earnings per share increased to $1.24 from $1.17 in the 2006 period.
Year-to-date revenues were $1.2 billion, a 12.6% increase over the 2006 period, which resulted from a 9.2% increase in the average number of worksite employees paid per month and a 3.2% increase in revenues per worksite employee per month. Gross profit for the nine months ended September 30, 2007 increased 6.5% to $221.6 million. The average gross profit per worksite employee per month was $227, a 2.2% decrease compared to the 2006 period.
Year-to-date operating expenses increased 8.6% to $177.4 million. On a per worksite employee per month basis, operating expenses were $182 compared to $183 in the 2006 period. The resulting operating income for the nine months ended September 30, 2007, was $44.1 million compared to $44.7 million in 2006.
EBITDA for the first nine months of the year was $64.3 million. Cash outlays included capital expenditures of $9.5 million, dividends of $9.0 million and share repurchases of $61.3 million