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ADP: 9 Percent Rev Growth for FY 2011

Tuesday, Feb 01 2011
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Gary ButlerWith its business showing a broad range of improvement, Automatic Data Processing is anticipating revenue growth of about 9 percent year-over-year for the year ending June 30. The company is also expecting about five percent growth in earnings per share, according to remarks made by CEO Gary Butler in the company's recent earnings conference call.

 

Butler said the company expects a 2 percent increase in its pays per control and client revenue retention improvement of about 50 basis points. The faster-growing PEO services sector will continue at a quicker clip than payroll, with revenue from that sector growing by about 15 percent.

Earnings dropped to $310.1 million, off 1.8 percent from $315.8 million for the corresponding quarter a fiscal 2010. Revenue for the most recently ended period was $2.5 billion, up from just under $2.2 billion. While acquisitions helped results, the company also experienced organic growth. Employer services had 4 percent internal growth, as compared to a 2 percent decline a year ago. Dealer services, the hard-hit automotive sector, also had 4 percent internal growth, compared to a 9 percent drop.

Bob Scott
Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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