Our revised guidance is as follows:

Low High
Payroll service revenue 2 %

3 %
HRS revenue 9 % 11 %
Total service revenue 5 % 6 %
Interest on funds held for clients (8 )% (6 )%
Investment income, net


Net income 5 % 7 %

Operating income, net of certain items, as a percent of total service revenue is expected to be approximately 37% for fiscal 2013. The effective income tax rate for fiscal 2013 is expected to approximate the tax rate for the first six months.

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