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Professional employer organization revenue at Automatic Data Processing Inc. (NASD: ADP) rose 20.0 percent on a year-over-year basis to $394.1 million in its fiscal fourth quarter ended June 30.
The average number of paid PEO worksite employees rose 14 percent in the fourth quarter to 239,000.
PEO revenue for full fiscal year 2011 rose 17.3 percent year over year to $1.53 billion, beating previous guidance of 16 percent growth. The average number of worksite employees over the year was 227,000, up from 203,000 in fiscal 2010.
PEO services represent just one of Roseland, N.J.-based ADP’s business lines, which include nonstaffing services. Total fourth-quarter revenue at ADP was $2.51 billion, up 14.5 percent year over year.
Total 2011 revenue was $9.89 billion, up 10.7 percent over 2010 revenue.
The company forecasts PEO revenue growth of between 15 percent and 17 percent in fiscal 2012.