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BARRETT BUSINESS SERVICES INC. ANNOUNCES EARNINGS

 PORTLAND, Ore., Nov. 10 /PRNewswire/ -- Barrett Business Services Inc. (NASDAQ: BBSI). Corporate revenues for the third quarter and nine months ended Sept. 30, 1993, were $28,076,000 and $73,997,000, respectively, an increase of 24.2 percent and 23.5 percent over comparable prior year periods. Income before provision for income taxes for the third quarter and nine months ended Sept. 30, 1993 was $1,146,000 and $2,585,000, an increase of 60.5 percent and 43.6 percent, respectively, over the comparable periods of 1992. Both the temporary staffing and employee leasing divisions of the company experienced growth in the 1993 periods.
 BARRETT BUSINESS SERVICES INC.
 (In thousands except per share amounts)
 Three months ended Nine months ended
 Ended Sept. 30, 1992 1993 1992 1993
 Revenues $22,597 28,076 59,930 73,997
 Net income $ 714 702 1,800 2,456
 Net income per share $ 0.36 0.22 0.90 1.00
 Pro forma data(A):
 Income before
 provision
 for income taxes $ 714 1,146 1,800 2,585
 Provision for income
 taxes 279 444 704 1,011
 Net income $ 435 702 1,096 1,574
 Net income per share $ 0.22 0.22 0.55 0.64
 (A) The provision for income taxes for the nine months ended Sept. 30, 1993 of $129,000 is offset by recognition of a cumulative net deferred tax asset of $505,000 associated with the termination of the company's S Corporation status on April 3, 1993, in accordance with Statement of Financial Accounting Standards (SFAS) No. 109, "Accounting for Income Taxes." A pro forma provision for income taxes that would have been recorded if the company had been a C Corporation for all periods presented is provided for comparative purposes.
 The company provides temporary employee and staff leasing services to a wide range of businesses though its branch network of nine offices located throughout the western half of Oregon and one in each of Sacramento, Calif.; Baltimore, Md.; and Seattle.
 -0- 11/10/93
 /CONTACT: William Sherertz of Barrett Business Services, 503-220-0988/
 (BBSI)


CO: Barrett Business Services Inc. ST: Oregon IN: SU: ERN

RB-IC -- SE016 -- 2941 11/10/93 17:06 EST
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Publication:PR Newswire
Date:Nov 10, 1993
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