Automatic Data Processing
met analysts' earnings expectations of 36 cents a share for the second fiscal quarter ended Dec. 31.
The figure excludes ADP's write-down of its investment in
Bridge Information Systems
, which the company
ADP, which is based in Roseland, N.J., earned 31 cents a share in the year-ago period. In afternoon activity on the
New York Stock Exchange
, ADP was trading at $61, down $1, or 1.6%.
Second-quarter revenue rose to $1.68 billion from $1.49 billion last year. The computing and payroll services company said it remains comfortable with its forecast of 13% to 15% revenue growth and 16% to 18% earnings per share growth for fiscal 2001.