In this week's earnings webcast, CEO Carlos Rodriguez said, "Our key metrics continue to be strong." Those included pays per control and revenue retention. The latter increased by 10 basis points over 2011. Rodriguez also said that ADP's new business sales for employer services and PEO services rose by 12 percent. However, the company continued to be hampered by problems in the European economy.
ADP Revenue and Net Up 7 Percent for 2012
Automatic Data Processing rolled sevens for its fiscal 2012 as net income, and revenue for employer services and total revenue all increased by 7 percent over 2011. And the company's metrics were strong in almost all areas for the year just ended.
The payroll giant's net income reached $452.4 million for 2012, up from $423.8 million the prior year. Employer services had $2.11 billion in revenue, an increase from just under $2 billion in 2011. Total revenue for the year just ended was $2.92 billion, compared to $2.7 billion the prior year. The company reiterated its 2013 forecast of an increase in revenue of 7 percent to 9 percent.
