Payroll services giant Automatic Data Processing reported a 5-percent rise in net earnings from continuing operations on top of 11-percent growth for the year ended June 30. And the year ended on an uptick with a 16 percent rise in net income from continuing operations and a 14-percent rise in revenue in the fourth quarter.
In a prepared statement, CEO Gary Butler commented, "Our key business metrics continued to trend positively and were the strongest they have been in three years."
Fourth-quarter net income was $241.8 million, up from $207.6 million a year earlier. Revenue for the most recently ended period was $2.18 billion, compared to $1.9 billion. Organic revenue grew by 9 percent during the period.
For fiscal 2011, net income hit $1.254 million, a rise from 2010's $1.21 billion. Revenue for the most recently ended year was $9.9 billion, up from $8.93 billion the prior year. Employer services revenue was up 9 percent year-over-year in the fourth quarter; 6 percent organically. Payroll revenue was up 13 percent for both the quarter and the year with 3 points of that increase coming from acquisitions.