As a reminder, the quarterly history of revenue and pretax earnings for reportable segments have been posted to the IR section of our website. These schedules have been updated to include the first quarter of fiscal 2012 and all prior periods have been updated to reflect 2012 budgeted foreign exchange rates.During today's conference call, we will make some forward-looking statements that refer to future events and as such, involve some risks, and these are discussed on Page 2 of the slide presentation and in our periodic filings with the SEC. With that, I'll now turn the call over to Gary for his opening remarks. Gary C. Butler Thank you, Elena. Good morning, everybody, and thank you for joining us. Let me begin today's call with some opening remarks about our first quarter results, then I'll turn the call over to our CFO, Chris Reidy, who will take you through the detailed results, after which I'll return to provide you with our detailed fiscal 2012 forecast, and before we take your questions, I'll provide some brief concluding remarks. Let's turn to start at Slide 4. As you read in this morning's press release, ADP reported very solid results for the first quarter of fiscal '12. I am quite pleased with the strong revenue growth during the quarter, which resulted from both strong new business sales and recent acquisition. Additionally, all of our key business metrics continued to trend positively. New business sales, client revenue retention, the number of employees on our clients' payrolls and client balances all increased during the quarter. Let me start with sales. Employer Services and PEO Services new business sales grew 8% year-over-year. We also continued to invest in additional product innovation in expansion of the sales force and in expanding our client service capability, all of which are having a very positive impact on new business sales, resulting and driving good organic revenue growth. Small Business Services, the PEO, Major Account Services and our Added Value Services, as well as GlobalView all achieved double-digit sales growth in the quarter.
Sales in National Accounts were a bit soft this quarter, which was not entirely unexpected given the economic uncertainty of recent months since we made our original forecast. On the positive side for the large positive National Accounts marketplace, we launched our new, very impressive Vantage HCM solution on schedule earlier this month at the HR Tech Conference in Las Vegas. The response from our clients, our prospects and our industry analysts have been quite positive, and we expect that this new cloud-based full HR solution will contribute nicely to future growth in this market.Sales in our Employee Services and International business were a bit below our expectation. We believe that this was in part due to a particularly strong fourth quarter sales growth, specifically in Canada and in Europe, but also from the less and robust global economic outlook especially in the Eurozone. Moving next to retention, our client revenue retention improved once again in the quarter after improving over 1 full point for fiscal 2011. Growth in our U.S. pays per control, which is our same-store sales employment metric were quite healthy at 2.7% up in the quarter. Average work site employee paid in the PEO grew an impressive 13% in the quarter, and our client funds balance growth continued to exceed our expectations, growing 10% for the first quarter. Moving on to Dealer, the automotive landscape in North America appears to be quite stable at this point, and a recent estimate of the annual selling rate for U.S. autos for calendar '11 is showing modest growth above calendar 2010. Dealer Services new business bookings were a strong double-digit in the first quarter and Dealer Services worldwide revenue and client site retention increased for the quarter, also after a very strong improvement last fiscal year. Before I turn the call over to Chris, I also want to say that we are quite pleased to have acquired a new company called The RightThing earlier this month. The RightThing is the market leader in what is called the RPO space or recruitment process outsourcing solution based and targeted at large companies with over 15,000 employees and considerably expands our HR BPO solution set or COS here in National Accounts in the U.S. or large enterprise account.
With that, let me turn it over to Chris to provide the financial highlights and the updated full year forecast for our client fund investment strategy.Christopher R. Reidy Thanks, Gary, and good morning, everyone. Let's turn to Slide 5. We're pleased that total revenues increased 13% to $2.5 billion, 10% organically, in the quarter, assisted 2 percentage points from favorable foreign exchange rates. Employer Services grew total revenues 9% and Dealer grew 18%, both including acquisitions, and the PEO grew 17%. When you look at organic growth by reportable segment, Employer Services organic revenue growth was 7% and PEO was 17% and Dealer was 6% in the quarter. Read the rest of this transcript for free on seekingalpha.com