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ADP Revenues Grow 14%, Earnings in Line With Estimates

CNBC.com
Tuesday, 6 Feb 2007 | 12:39 PM ET

Automatic Data Processing , the world's biggest payroll processor, reported higher quarterly earnings from continuing operations as employers' payrolls rose.

Earnings from continuing operations for the fiscal second quarter ended Dec. 31 rose to $283.0 million, or 51 cents a share - matching a Thomson Financial consensus estimate - and up from $257.0 million, or 44 cents a share, a year earlier.

Including results from its Sandy division, which was sold off on Jan. 23, the company had net income of $297.7 million, or 54 cents a share, up from $259.7 million, or 45 cents a share, a year earlier.

Revenue rose 14% to $2.32 billion in the quarter from $2.03 billion a year earlier.

In the U.S., the number of employees on ADP clients' payrolls rose 1.7%, and European payrolls also grew, the company said.

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