Paychex quarterly profit rises

NEW YORK (Reuters) - Paychex Inc, a company that processes paychecks for companies' employees, said quarterly net income rose by 13 percent, as its client base grew, but also that it is seeing signs of a weakening economy.

The Rochester, New York-based company said net income for its fiscal third quarter ended February 29 was $142.5 million, or 39 cents a share, up from $126.6 million, or 33 cents a share, in the same period a year earlier.

(Reporting by Dan Wilchins)