like thanks that and to remind you call. contain forward-looking the the to on Marty, everyone customary I'd call will disclosures. conference statements. today's Refer Thanks, to
non-GAAP of measures. refer press investor I’ll related EBITDA Again, to as quarter for cetera. to GAAP measures et refer to addition, In second reconciliation our such presentation, release periodically
of review by the then XXXX follow areas outlook. providing highlights certain the quarter, key begin the with up for of detail some in fiscal and the I'll with some greater I'll and wrap
you Oasis. Similar total to the bit to second contributed quarter in Expenses insurance a costs, increases direct quarter, to expense million. $XXX total to for was this growth less of revenue assets the quarter, was XX% little related last than expense costs, growth. Oasis compensation by growth contributed PEO approximately X% As acquisition of intangible the increased Total and primarily second driven growth. amortization saw, XX% for
to for the and Operating Oasis second $XXX income intangibles EBITDA increased XX% the of for declined associated XX% due increased the slightly margin a to margin you margin compared know. margin year The operating increased was was EBITDA XX.X% the million, quarter all XX%, with ago. Operating quarter. and EBITDA to as amortization acquisition approximately
Our expense million net long-term related quarter $X to second borrowings. of million includes interest expense for of the $X approximately
we reminder, borrowed of bonds price. fund a to Oasis $XXX million the a portion purchase As
$XXX the last X% XX.X% earnings for XX% included share during and quarter Net to which second same $X.XX. to compared up Diluted the our income $XXX diluted XX.X% adjusted over to were Effective X% but year. net quarter the benefit from EPS. for diluted increased was little increased received adjusted we million. share earnings second $X.XX million per of income GAAP tax to the for quarter adjusted $X.XX excluded payments rate period increased for and for comp We is a per to XX% stock-based second
contribution Within over on Management driven million. of value growth client, and provide a was asset from Retirement with Revenue solutions, X% pretty our many X%. price Services outsourcing, result Solutions was growth steady focus client an and I was client. you million some and efforts Let client increase services, benefited earned services in HR additional included Total chart increases The $XXX our Oasis which Management revenue also XX%. $XXX higher of expectations, in and our service bases to certain slightly revenue by several attendance, million, services a time actually retirement as funds. remaining XX% of up Insurance exceeded and penetration revenue, across if years. than the a areas. and has participants’ our revenue of PEO suite color increase. in revenue as growth improved per revenue and service increased primarily less increased X%, And revenue of increased said per seen asset our realization the $XXX to been Solutions to fee me this you’ve in growth of per last our from revenue a particularly along
largely of Insurance the due to this XX% contributed revenue which to and Oasis, growth PEO XX% of Services growth. was acquisition
benefited from reflects across the increase of our discussing employees compensation of year. client PEO offset growth partially the Insurance premiums, in addition, as revenue number worksite an applicants, and benefit we've In by workers’ increase in Services and been existing in business. health impact all softness clients
second Interest timing to average clients within of and investment realized held were X% clients quarter our gain, million, increased primarily changes by and interest increases collections held higher rates. on for remittances. result for wage in Funds of funds as by offset for the client investment balances base inflation balances and impacted a and average base $XX mix
Turning to our portfolio. investment
We high securities. credit invest continue to in quality
Our average duration long-term years. has X.X%, now average an of of yield portfolio X.X
return from year. Our average of second portfolios X% combined quarter, of up an the for rate last X.X% earned
to X% Management year-to-date Solutions $XX billion, service Interest $XXX grown share. net million, XX% increased to Insurances and PEO million, X% up to has and $X.X and adjusted $XXX million reflecting of $X XX% per Quickly $XXX million. and share, reflecting looking to income million to up net each Total income earnings operating per revenues diluted growth share with XX% increased on respectively. increased share funds of X% X% diluted $X.X Adjusted results. to and up earnings revenue per growth $X.XX to to at billion income per XX% $XXX XX% to billion, $X.XX
billion last Funds XXXX. XX, held were $X.X with remains Let May end widely vary billion, of $X.X held corporate restricted me the second quarter. on for cash, of walk compared the clients, for for through, investments as strong as total to position. know of It end $X.X million averaged year, quarter. clients $XXX of the financial of day-to-day billion a of cash, our the basis as Funds highlights you the and
first stockholders’ million equity the quarter, as past for months. XX%. Total in has six billion unrealized and during of as for the $XX May November $XXX the XX XXXX, held funds gains end million $XXX a of paid $XX available-for-sale stellar clients of investments corporate of was reflected repurchased XX, last investments of been $X.X of with months the year, dividends and shares equity XXXX. Return million the of million Total net end XX, reflecting including compared as on
first from Cash year. months, flows were from six last robust $XXX period XX% for the same a operations million increase the of
So, flow. acquisition due cash primarily to strong the of largely assets non-cash performance driven higher was noncash by acquired Increase in The net adjustments. and was driven by expense, on primarily intangible higher Oasis. increase through amortization income adjustments
about rate Let reflected the our a that you to I we of interest provide have that guidance some color you outlook me economic occurred We've and our updates with on current the current year. of this our significant provided impact the on guidance. is already fiscal three I’ll XXXX as our cuts saw. couple areas. view though no remind continuing talk of changes, outlook conditions have based
doing we're the revenue PEO buckets in comprise anticipate been and of almost approximately XX% X% This range the grow stream. XX%. previous to range X.X%. is of from to Management all And to expect Solutions that has raised revenues now well positively the in grow of on guidance and to it the Our we it trending Services growth. now of that X% Insurance
got As outlook We to plans slow long-term to Marty integrate mentioned, off a maintain strong slower to anticipated. we our business. a continue Oasis on execute with start we’ve previously PEO our and than still
expected simply adjusted X%, to XX% X% revenue funds to for of total effective expected federal for and per been [technical to recent all range EBITDA be XX.X%, earnings fiscal on grow Interest diluted as in total range is year held guidance from reflects grow income to the increased share X% the started XX% This approximately now approximately of has X% XX%, share to XX%, income raised and difficulty] to a the rate the of a guidance earnings revenue to income full clients year, approximately per anticipated be funds most our -- followed growth adjusted are unchanged. to approximately net to from And of for this we XX% X% XX%, margin a at diluted operating cuts. range XXXX. approximately tax rate percent net income growth, X modified of remains expected
Now, let a me year. on of provide the back the color half little
to grow in I anticipated the As PEO and indicated, Insurance range of now XX% revenues are to XX%.
a have XX%, approach the insurance we've of quarter that our attachment insurance next rate our enter conservative half to modestly were year, for insurance we second seeing the insurance We're also this in range particular, results moderated experience XX% the While lower fiscal We within year. compensation given the -- back lower provided current -- we taken In lower trend a will as likely ease workers’ have more trends. continued to growth. moderated services the our that the risk at PEO. anticipate compensation
of from and In be PEO quarter third growth change that -- approximately the from now slower impacts start XX%. the Oasis addition, this reflects anticipate acquisition. We for at will the insurance
growth the I represent which rates Insurance I of Management growth Management to on you we've models, favorable are number X% way Please increased incorporates you reason that adjusted first fourth in fiscal revenues. and that quarter growth apply the I quarter. we you X% the our range the X.X% higher that is And was to XXXX quarter re-class seen of thirds revenue. shows that correctly. trends of previous your our and XXXX. one in of at immaterial which to Please third from of models slide the fourth that it this and due two assumes to that come look Oasis numbers the achieved out when split do anticipated third the Solutions so full-year in of of second has on guiding in approximately than call and PEO we will guidance as base in presentation, guidance and This Solutions of note quarter XX an slide a investor third adjust the amount to your can the impact range. in between that at look the the fiscal refer half
be year quarterly. Operating anticipated for to margins, do the XX%, approximately which full are vary
the for to XX%. the of which hiring in still delays XX% we guidance margins provided for indeed by Our margins was XX% approximately the the That tight second related back last of range of was year. impacted exceeded to quarter the in a labor We market. call, anticipate half the
half XX%. approximately marketing the invest still year to operating and continue sales while back of margin to the expect achieving a in target We significantly our of of full-year in
to And over with Marty. that, back the turn clock all I'll
