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Automatic Data Processing Meets Estimates


Automatic Data Processing

(ADP) - Get Automatic Data Processing, Inc. Report

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

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, which the company

disclosed yesterday.

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.