ADP reports positive second quarter results

Automatic Data Processing announced a nearly 15 percent increase in revenue growth to $2.15 billion for its second fiscal quarter compared to the previous year period, according to an ADP press release.

More than 12 percent of that growth was on a constant foreign currency basis, and pretax earnings from continuing operations grew 11 percent compared to last year’s period.

President and CEO of ADP Gary Butler says the company is pleased with the results. “Our continued strong performance confirms the strength of our recurring revenue business model,” he said, adding the company foresees continued growth. “We are affirming our forecast of 12-13 percent revenue growth for fiscal 2008. This forecast includes our current estimate of 1 to 2 percentage points of anticipated benefit from foreign exchange rates.”

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