Daily News

View All News

ADP says PEO revenue up 9.6%

May 05, 2009

Automatic Data Processing Inc. (NASD: ADP) reported its professional employer organization revenue rose 9.6% year-over-year to $326.3 million in its fiscal third quarter ended March 31.

The average number of worksite employees rose 8% year-over-year to more than 195,000, according to the company.

ADP said the dollar value of new PEO business sold in the third quarter was 10% less than the year-ago quarter. Still, the company said it expects PEO services revenue to increase 12% to 13% in the full fiscal year.

ADP provides payroll processing, PEO services and motor-vehicle dealer computer services.

The company said it reports PEO revenue on a net basis excluding pass-through costs such as wages and payroll taxes.