ADP REPORTS RECORD SECOND FISCAL QUARTER; EPS INCREASES BY 18%.ROSELAND, N.J.--(BUSINESS WIRE)--Jan. 13, 1995--Automatic Data Processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a , Inc. achieved record revenue and earnings in the second quarter of fiscal 1995, Josh S. Weston, chairman and chief executive officer, announced today. This represents ADP's 134th consecutive quarter of double-digit earnings per share growth. Revenue was $672,597,000 in the quarter ended December 31, 1995, up 16% from last year. Earnings per share increased 18% to $.67 from $.57 last year. Pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern earnings increased 20%; net earnings increased 18% after the effect of a somewhat higher tax rate. Commenting on the second quarter, Mr. Weston said, "Revenue growth in Employer and Dealer Services was 14% and 30%, respectively. The primary leading indicators Leading Indicator A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators are used to predict changes in the economy, but are not always accurate. of these businesses, new client sales and client retention, continue to be very strong. Dealer Services' buoyant Buoyant The term used to describe a commodities market where the prices generally rise with ease when there are considerable signals of strength. Notes: These types of markets can be very volatile as the prices are rapid to rise and fall with investor sentiment. growth included internal growth of over 15% and the effect of several small acquisitions. Brokerage Services' growth of 6% was, as expected, about the same as the first quarter; overall trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. was relatively flat with last year's record level. "We recently acquired WTR WTR Water WTR Writer WTR Wait To Restore WTR Wireless Technology Research WTR Walker, Texas Ranger (TV show) WTR Western Test Range WTR With-The-Rule Astigmatism WTR Working Time Regulation (UK) , an East Coast benefits consultant and 401K processor for medium size companies. While WTR is small, it has good growth prospects and enhances the benefits services capabilities of Employer Services. "We continue to believe that full fiscal year earnings per share will increase over 15% on a revenue increase of about 15%," Mr. Weston concluded. Below is a summary of unaudited comparative results. -0-
Three Months Ended Six Months Ended
December 31, December 31,
1994 1993 1994 1993
(000's omitted except per share data)
Revenue(R) $ 672,597 $577,661 $1,294,883 $1,129,644 Earnings before income taxes and cumulative effect of of accounting change (R) $ 128,100 $ 106,570 $ 220,700 $ 185,430 Provision for income taxes $ 33,180 $ 26,390 $ 57,080 $ 46,740 Net earnings before cumulative effect of accounting change (R) $ 94,920 $ 80,180 $ 163,620 $ 138,690 Cumulative effect of accounting change $ --- $ --- $ --- $ (4,800) Net earnings (R) $ 94,920 $ 80,180 $ 163,620 $ 133,890 Earnings per share: Before cumulative effect of accounting change (R) $ .67 $ .57 $ 1.16 $ .99 Cumulative effect of accounting change $ --- $ --- $ --- $ (.03)(a) Net income (R) $ .67 $ .57 $ 1.16 $ .96(a) Average shares outstanding 141,718 140,513 141,250 140,585 (R) Record high (a) Reflects the adoption of certain non-recurring changes required by FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). . ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. , with over $2.4 billion in revenue and 300,000 clients, is one of the largest independent computing services firms in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. .
CONTACT: Arthur Schmidt for: AUTOMATIC DATA PROCESSING, INC.
& Associates, Inc. (NYSE:AUD)
342 Madison Avenue
New York, New York 10173-0019
Tel (212) 953-5555
Fax (212) 953-5554
KEYWORD; NEW JERSEY INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS EARNINGS REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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