ADP Reports Third Quarter Fiscal 2006 Results; Revenues Grow 10%; EPS from Continuing Operations Increases 24%; Affirms Fiscal 2006 Guidance.
Business Wire › April 28, 2006
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ADP Reports Third Quarter Fiscal 2006 Results; Revenues Grow 10%; EPS from Continuing Operations Increases 24%; Affirms Fiscal 2006 Guidance.
ROSELAND, N.J. -- Automatic Data Processing, Inc. (NYSE:ADP) reported 10% revenue growth, to $2.4 billion, and $0.61 earnings per share from continuing operations for the third fiscal quarter ended March 31, 2006, Arthur F. Weinbach, chairman and chief executive officer, announced today. On an as reported basis, including stock compensation expense in the current period, pretax and net earnings from continuing operations grew 12% and 11%, respectively, and diluted earnings per share from continuing operations increased 13% from $0.54 per share a year ago. Fiscal 2006 earnings comparisons are affected by the inclusion of stock compensation expense as of July 1, 2005. On a comparable basis, including stock compensation expense in the third quarter of fiscal 2005, pretax and net earnings from continuing operations each grew 22%, and diluted earnings per share from continuing operations increased 24% from $0.49 per share a year ago.
On April 13, 2006, ADP completed the sale of its Claims Services (CSG) business with annual revenues of approximately $415 million. ADP expects to report a one-time pretax gain of approximately $600 million, or $480 million after tax, and net cash from the transaction of approximately...See the full content of this document
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