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Professional employer organization revenue rose 20.9% at Automatic Data Processing Inc. (NYSE: ADP). First-quarter PEO revenue at the Roseland NJ company was $234.0 million, up from $193.6 million in the same period last year.
The number of worksite PEO employees was 165,000, up 19% year-over-year. And the company forecast PEO revenue of 19% to 20% for the upcoming fiscal year.
Overall first-quarter revenue at ADP was $1.99 billion, up 13.5% from $1.75 billion in the same period last year. Net income rose 15.5% to $297.4 million from $257.5 million.
Automatic Data Processing Inc. (NYSE: ADP)
For the first quarter ended Sept. 30, 2007 compared with the same period in the prior year.
Revenue: $1.99 billion, +13.5%Net income: $297.4 million, 15.5%