ADP Reports Record First Fiscal Quarter; EPS Increases by 15%.ROSELAND, N.J.--(BUSINESS WIRE)--Oct. 14, 1999-- Automatic Data Processing Same as data processing. , Inc. (NYSE NYSE See: New York Stock Exchange : AUD AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) achieved record revenues and earnings in its first quarter of fiscal 2000, Arthur F. Weinbach, chairman and chief executive officer, announced today. This represents ADP's 153rd consecutive quarter of record highs in both revenues and earnings per share since becoming a public company in 1961. Revenues exceeded $1.3 billion in the quarter ended September 30, 1999, up 9% from last year. Pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern earnings increased 20% and net earnings increased 17% on a higher effective tax rate. Diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of , on increased shares outstanding, increased 15% to $.23 from $.20 last year. Commenting on the first quarter, Mr. Weinbach said, "As expected, revenue growth in the quarter was impacted by prior year dispositions. Revenue growth in Employer, Dealer and Claims Services, was 12%, 4%, and 21%, respectively. Brokerage Services revenue growth was 3%, impacted by last year's sale of the front office business. Excluding this sale, Brokerage revenue growth was 24%. Highlights of the solid quarter include continued strong new business sales and internal revenue growth in Employer Services as well as high Brokerage trade volumes. Margins in the quarter increascal 2000 is off to an excellent start and we areree Months Ended September 30, 1999 1998 $ 1,351,095 $ 1,245,126 Earnin424 Average shares outstanding 624,392 612,477 Basic earnings per share(R) $.23 $.20 Diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. net earnings (R) puting services firms in the world. Thiign currency trends; impact of Year 2000; stock |
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