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BBSI Reaffirms Guidance for Second Quarter 2006 and Schedules Conference Call

6/14/2006 Print Version

VANCOUVER, Wash.--(BUSINESS WIRE)--June 14, 2006--Barrett Business

Services, Inc. (Nasdaq:BBSI) reported today that management has

reaffirmed its previously disclosed limited financial guidance with

respect to its operating results for the second quarter ending June

30, 2006, and will convene a conference call, Wednesday, June 14,

2006, at 9:00 a.m. PT.

Consistent with the Company's prior disclosure on April 26, 2006,

management expects gross revenues for the second quarter of 2006 to

range from $250 million to $255 million, an increase of approximately

37.5% over the second quarter of 2005, and anticipates diluted

earnings per share for the second quarter of 2006 to range from $.33

to $.35 per share. Management expectations for diluted earnings per

share for the second quarter of 2006 equate to increases over the

second quarter of 2005 of approximately 36.9% in net income and

approximately 9.7% in diluted earnings per share. The percentage

increase in expected net income for the 2006 second quarter exceeds

the percentage increase in expected diluted earnings per share due to

the dilutive effect of the July 2005 follow-on equity offering. A

reconciliation of estimated gross revenues to estimated GAAP net

revenues for the second quarter of 2006 is not included because PEO

revenues and cost of PEO revenues for the period are not reasonably


On June 14, 2006, at 9:00 a.m. Pacific Time, William W. Sherertz

and Michael D. Mulholland will host an investor telephone conference

call to discuss management's reaffirmation of its financial guidance

for second quarter 2006 operating results. To participate in the call,

dial 877-356-3717. The call identification number is 1771074. The

conference call will also be webcast live at www.barrettbusiness.com.

To access the webcast, click on the Investor Relations section of the

Web site and select Webcast. A replay of the call will be available

beginning June 14, 2006, at 12:00 p.m. and ending June 21, 2006. To

listen to the recording, dial 800-642-1687 and enter conference

identification code 1771074.

Statements in this release about future events or performance,

including earnings expectations for the second quarter of 2006, are

forward-looking statements, which involve known and unknown risks,

uncertainties and other factors that may cause the actual results of

the Company to be materially different from any future results

expressed or implied by such forward-looking statements. Factors that

could affect future results include economic conditions in the

Company's service areas, the effect of changes in the Company's mix of

services on gross margin, the Company's ability to successfully

integrate acquired businesses with its existing operations, future

workers' compensation claims experience, the effect of changes in the

workers' compensation regulatory environment in one or more of our

primary markets, collectibility of accounts receivable, and the use of

net proceeds of approximately $33 million and other effects of the

Company's 2005 follow-on equity offering, among others. Other

important factors that may affect the Company's future prospects are

described in the Company's 2005 Annual Report on Form 10-K. Although

forward-looking statements help to provide complete information about

the Company, readers should keep in mind that forward-looking

statements may be less reliable than historical information. The

Company undertakes no obligation to update or revise forward-looking

statements in this release to reflect events or changes in

circumstances that occur after the date of this release.

BBSI provides human resource management solutions to large and

small companies throughout many regions of the United States.

CONTACT: Barrett Business Services, Inc., Vancouver

William W. Sherertz, 360-828-0700

SOURCE: Barrett Business Services, Inc.