ADP reports first quarter revenue increase

Automatic Data Processing (ADP) reported a 13.5 percent revenue growth to $2 billion for the first quarter, which ended Sept. 30, ADP’s press release stated.

Revenue growth benefited about 1 percent from foreign exchange rates during the quarter. Pretax and net earnings from continuing operations grew approximately 9 percent and 10 percent.

ADP CEO and President Gary Butler says the company is happy with the results since they were higher than its expectations.

“I am particularly pleased to anticipate delivering fiscal 2008 earnings per share growth at the high end of our forecast,” he said.

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