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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
April 26, 1995
Date of Report (date of earliest event reported)
BARRETT BUSINESS SERVICES, INC.
(Exact name of registrant as specified in its charter)
Maryland 0-21886 52-0812977
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) Number)
4724 S.W. Macadam Avenue
Portland, Oregon 97201
(Address of principal executive offices) (Zip Code)
(503) 220-0988
(Registrant's telephone number, including area code)
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Item 5. Other Events.
On April 26, 1995, Barrett Business Services, Inc., reported that
it expects lower net earnings of approximately $.05 per share for the first
quarter of 1995 as compared to $.09 per share for the first quarter of 1994.
The reduction in expected net income is attributable to substantially higher
workers' compensation expense which more than offsets the benefit of a 45%
increase in revenues for the first quarter of 1995 over the comparable 1994
quarter.
Accompanying this report as Exhibit 99 is a copy of the news
release, dated April 26, 1995, in which Barrett Business Services, Inc.,
reported the foregoing events.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit 99 News Release of Barrett Business Services,
Inc., dated April 26, 1995.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned thereunto duly authorized.
DATED: May 2, 1995 Barrett Business Services, Inc.
By: /s/ Michael D. Mulholland
Michael D. Mulholland
Vice President-Finance
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EXHIBIT INDEX
Exhibit
99 News Release of Barrett Business Services,
Inc., dated April 26, 1995
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EXHIBIT 99
NEWS RELEASE
For Immediate Release
Contact: William W. Sherertz
President and Chief
Executive Officer
Telephone: (503) 220-0988
BARRETT BUSINESS SERVICES, INC.
ANNOUNCES LOWER EARNINGS
ANTICIPATED FOR FIRST QUARTER OF 1995
PORTLAND, OREGON, April 26, 1995 - Barrett Business Services, Inc.
(Nasdaq trading symbol: "BBSI") announced today that it expects to report
lower net earnings for the first quarter of 1995 as compared to the first
quarter of 1994. The reduction in expected net income is attributable to
substantially higher workers' compensation expense which more than offsets
the benefit of a 45% increase in revenues for the first quarter of 1995 over
the comparable 1994 quarter.
Net earnings per share for the first quarter of 1995 are expected
to approximate $.05 which compares to $.09 per share for the first quarter of
1994.
William W. Sherertz, President and Chief Executive Officer,
commented that "we believe we have taken the necessary corrective action to
lessen the future probability of such a significant increase in workers'
compensation expense. It is, however, difficult to totally eliminate the
financial effect when an employee sustains an unfortunate catastrophic
injury. Our management team is focused more than ever on continuing to make
the workplace safer for every one of our client companies."
Barrett is the largest provider of temporary staffing and
professional employer services in Oregon with thirteen offices throughout the
State. The Company also has five offices in California, three offices in
each of Maryland and Washington and one office in Delaware. Barrett reported
revenues of $140.6 million for 1994.
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