Courtesy of Benzinga.
Automatic Data Processing (NASDAQ: ADP) reported in-line earnings for its fiscal fourth-quarter.
For FY15, ADP projects earnings per share from continuing operations to rise 11% to 13% on revenue growth of 7% to 8%. Analysts expected EPS growth of 11% on revenue growth of 7.8%.
The Roseland, New Jersey-based company posted a quarterly profit of $288.7 million, or $0.60 per share, versus a year-ago profit of $227 million, or $0.47 per share. Excluding certain items, the company’s adjusted earnings from continuing operations climbed to $0.63 per share from $0.55 per share.
Its total revenue jumped 9.7% to $3.07 billion. However, analysts were expecting earnings of $0.63 per share on revenue of $3.03 billion.
ADP’s revenue from employer-services segment climbed 8.3% to $2.14 billion, while professional-employer-organizations services revenue from continuing operations surged 19% to $584 million. Dealer-services revenue also rose 7.6% to $499.4 million in the period.
Combined new-business bookings for employer services and PEO services climbed 5% in the quarter.
“ADP reported solid results for fiscal 2014, and we have demonstrated our focus and commitment to sustaining our position as a global leader of Human Capital Management through our product innovations and our decision to spin-off the Dealer Services business into its own independent, publicly-traded company,” said Carlos Rodriguez, president and chief executive officer, ADP.
ADP shares gained 0.34% to close at $82.15 yesterday.
