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US - ADP reports PEO revenue up 11%

August 01 2013

Professional employer organization revenue at Automatic Data Processing Inc. (NASD: ADP) rose 11 percent to $486.9 million in the company’s fiscal fourth quarter ended June 30. It also rose 11 percent to $1.96 billion for the full fiscal year.

Average worksite employees paid by PEO services rose 8 percent in the fourth quarter and 9 percent for the year.

PEO services represent just one of Roseland, N.J.-based ADP’s business lines, which include nonstaffing operations. Total fourth-quarter revenue at the firm rose 7 percent to $2.81 billion, and full-year revenue rose 7 percent to $11.31 billion.

Fourth-quarter net income fell 12.2 percent to $227.0 million, and full-year net income rose 1.2 percent to $1.41 billion.

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