Barrett Business Services, Inc. (BBSI) has reported a 6.74 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $10.23 million, or $1.38 a share in the quarter, compared with $10.97 million, or $1.49 a share for the same period last year.

Revenue during the quarter grew 13.27 percent to $225.10 million from $198.72 million in the previous year period. Gross margin for the quarter expanded 43 basis points over the previous year period to 22.02 percent. Total expenses were 91.87 percent of quarterly revenues, up from 91.58 percent for the same period last year. That has resulted in a contraction of 29 basis points in operating margin to 8.13 percent.

Operating income for the quarter was $18.30 million, compared with $16.73 million in the previous year period.

"We are seeing consistency in our performance, which speaks to the depth of our operational teams," said Michael Elich, president and chief executive officer of BBSI. "In the third quarter, we saw 9.1% same-store sales growth and added 200 net new clients, supporting 17% gross revenue growth. Additionally, we continued to make progress on key initiatives, including paying off our term loan with Wells Fargo and adding a new member to our board of directors. We will continue to execute on our plan as we look towards 2017 and beyond."

For fiscal year 2016, Barrett Business Services, Inc. expects diluted earnings per share to be $3.