The available-for-sale securities within the funds held for clients and corporate investment portfolios reflected a net unrealized gain of $62.9 million as of November 30, 2012, compared with a net unrealized gain of $59.5 million as of May 31, 2012. During the first six months, the net unrealized gain on our investment portfolio ranged from $53.8 million to $64.1 million. The net unrealized gain on our investment portfolios was approximately $54.4 million as of December 14, 2012.YEAR-TO-DATE FISCAL 2013 HIGHLIGHTS The highlights for the six months ended November 30, 2012 are as follows:
- Payroll service revenue increased 1% to $762.9 million, with checks per payroll increasing 1.6% compared to the same period last year.
- HRS revenue increased 10% to $364.6 million.
- Total service revenue increased 4% to $1.1 billion.
- Total revenue increased 3% to $1.1 billion.
- Combined interest on funds held for clients and investment income, net, decreased $0.9 million, or 4%.
- Operating income increased 5% to $468.0 million, and operating income, net of certain items, also increased 5% to $447.9 million.
- Net income and diluted earnings per share both increased 4% to $301.0 million and $0.83 per share, respectively.
- Cash flow from operations was $326.0 million.