Automatic Data Processing
met analysts' earnings expectations for the first quarter of fiscal 2001.
Net income rose to $173.4 million from $146.2 million, while earnings per share of 27 cents met the 13-analyst
First Call/Thomson Financial
consensus estimate. The company earned 23 cents a share in the year-ago period.
ADP, which provides payroll, benefits administration and other computing services, reported revenue of $1.59 billion for the period ended Sept. 30, up from $1.35 billion a year ago.
The company said it remains comfortable with previous forecasts of 13% to 15% revenue growth and 16% to 18% earnings per share growth for the full year.