ADP Trims 2009 Earnings, Revenue Guidance

Automatic Data Processing (ADP Quote) trimmed its guidance for its full-year earnings and revenue, citing economic headwinds that have impacted the employment market.

The Roseland, N.J.-based payroll, benefits and outsourced business services provider said it now expects revenue to grow in the 1% to 2% range in 2009. When the company reported fiscal second-quarter earnings in February, ADP said it expected revenue growth to be in a range of 2% to 3%.

ADP also said it expects earnings from continuing operations to be near the low end of it previously disclosed guidance of 10% to 14% growth in 2009. ...