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Professional employer organization revenue at Automatic Data Processing Inc. (NYSE: ADP) rose 16.5% in the fourth quarter ended June 30 to $272.2 million.
The average number of worksite employees paid by its PEO division rose 17% in the fourth quarter to 187,000, the company reported.
PEO revenue for the full fiscal year rose 20% to $1.05 billion. Average number of worksite employees paid by the company's PEO services increased 18% to 176,000.
Total fourth-quarter revenue for the Roseland NJ-based company rose 10.4% to $2.21 billion. Fourth-quarter net income increased 19.9% to $233.5 million.
Full-year revenue increased 12.5% to $8.78 billion, and net income rose 8.5% to $1.24 billion.
Automatic Data Processing Inc. (NYSE: ADP)
For the fourth quarter ended June 30, 2008, compared with the same period in the previous year.
Revenue: $2.21 billion, +10.4%
Net income: $233.5 million, +19.9%
For the full fiscal year ended June 30, 2008, compared with the previous year.
Revenue: $8.78 billion, +12.5%
Net income: $1.24 billion, +8.5%