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ADP Reports First Quarter Fiscal 2014 Results

Stocks in this article: ADP

ROSELAND, N.J., Oct. 30, 2013 (GLOBE NEWSWIRE) -- ADP ® (Nasdaq:ADP) today announced its first quarter fiscal 2014 financial results, highlights are below.

  • ADP reported revenue growth of 8%, 7% organic, to $2.8 billion for the first fiscal quarter ended September 30, 2013.
  • Pretax and net earnings from continuing operations increased 7% and 9%, respectively.
  • Diluted earnings per share from continuing operations of $0.68 increased 10% from $0.62 a year ago.
  • ADP acquired 4.2 million shares of its stock for treasury at a cost of $303 million in the quarter.
  • ADP hosted its first ever "Innovation Day" showcasing the company's latest Human Capital Management (HCM) enhancements and announced plans to expand its Innovation Lab to New York's "Silicon Alley."
  • ADP was named to Forbes' list of World's Most Innovative Companies for the third consecutive year and also was named a Leader in Multi-Process Human Resources Outsourcing by Everest Group.

"ADP's business model is strong, and as a leading global Human Capital Management solutions provider, we are focused on driving product innovation and enhancing our distribution and service capabilities," said Carlos Rodriguez, president and chief executive officer, ADP. "Our focus on innovation is apparent as we continue to bring to market exciting new enhancements to our portfolio of integrated Human Capital Management solutions for both mid-sized and large employers. Most recently we introduced data-driven analytics and document management in the cloud, and enhanced ADP's Mobile Solutions App. Additionally, we launched ADP Recruiting Management, a unified next-generation platform that addresses the talent management needs of our clients by engaging social and mobile users, an important part of the recruitment landscape."

"ADP's first quarter results were solid," said Jan Siegmund, chief financial officer, ADP. "I am particularly pleased with our revenue growth of 8%. Each of our business segments performed well, driving solid revenue growth and pretax margin expansion. We reaffirm our full year fiscal 2014 financial guidance."

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