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ADP 3Q profit drops

ADP’s fiscal third quarter profit fell 3 percent, according to the Associated Press.

Net income for the quarter ended March 31 declined to $402.5 million compared with profit of $413.6 million during the same period last year.

ADP’s total revenue fell 2 percent to $2.37 billion during the quarter, from $2.43 billion during the year-ago period.

Gary Butler, president and chief executive, said in a statement that ADP continues to expect full fiscal year revenue growth of 1-2 percent.

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