The information furnished herein reflects all adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods.
Adjustments are of a normal recurring nature.
These statements should be read in conjunction with the annual financial statements and related notes of the Company for the year ended June 30, 1998. PEO revenues are net of pass-through costs, which include wages and taxes. All prior period results have been restated for the March 1999 pooling of The Vincam Group, a leading Professional Employer Organization providing a suite of human resource functions to small and medium sized employers on an outsourced basis. Systems development and programming investments increased to accelerate automation, migrate to new computing technologies, and develop new products. The Company's financial condition and balance sheet remain exceptionally strong, and operations continue to generate a strong cash flow.