Our First Quarterly Results as a Combined Company Show Rapid Growth despite Down Economy

Posted on December 8, 2009 by Lisa Rodriguez in HR Outsourcing

Last month we released figures from our third quarter, the first full quarter since we acquired a public competitor, Florida-based Gevity, in June. Since completing the acquisition, we have added more than 350 small business clients representing almost 7,500 employees, and continue on a growth path toward annual net revenues exceeding $160 million, which significantly increases last year’s record-setting net revenue figure ($100 million).

“TriNet took a bold step to pursue an acquisition in a down economy, and the great results we achieved from our first quarter as a combined company show that our business strategy is working,” said our president and CEO Burton M. Goldfield in the release. “We made our numbers on both the expense and revenue sides, and exceeded our goal for new client onboarding.”

TriNet recorded almost $55 million in net revenue during the third quarter, pushing its year-to-date figure past the $100 million total the company earned last year. The company added 212 clients, employing more than 4,025 workers, during the quarter. In addition, TriNet ran more than 1 million paychecks and enrolled more than 30,000 employees into benefits plans. TriNet now serves as a trusted advisor to more than 8,000 small businesses covering 130,000 employees in all 50 states. Read more about our Q3 successes here.