Automatic Data Processing has raised its revenue estimates for fiscal 2012 as the company reported a 9-percent rise in net income on 13-percent revenue growth for the first quarter ended September 30. The company pushed its revenue projections to the top of the previous range for both Employer Services and Professional Employment Organization services.Net income for the quarter was $302.7 million, compared to $278.5 million for last year's corresponding period. Total revenue reached $2.52 billion from $2.23 billion a year earlier. Employer Services hit $1.75 billion, a 9- percent rise from $1.6 billion.
ADP forecast a 7-percent increase in Employer Services for the current fiscal year, compared to the previous range of 6 percent to 7 percent. The forecast for PEO Services was set at 17 percent at the top of the earlier range of 15 percent to 17 percent.
