Paychex Issues FY18 Outlook - Quick Facts

(RTTNews) - Paychex Inc. (PAYX) announced, for fiscal 2018, the company expects: adjusted net income to increase approximately 7%; and adjusted earnings per share to increase in the range of 7% to 8%.

For fiscal 2018, Paychex expects total revenue, including interest on funds held for clients, to increase approximately 5%. Payroll service revenue is anticipated to increase in the range of 1% to 2%; HRS revenue is anticipated to increase in the range of 8% to 10%.

For fiscal 2017, Paychex reported that its net income and earnings per share both increased 8% to $817.3 million and $2.25 per share, respectively. For the fiscal year, total revenue and total service revenue both increased 7% to $3.2 billion and $3.1 billion, respectively.