automatic data processing (ADP) Key Developments
Automatic Data Processing, Inc. Opens 'Center of Excellence' in Bucharest, Romania
Feb 24 15
Automatic Data Processing, Inc. announced that it had opened a 'center of excellence' in Bucharest, Romania, which will serve as a global delivery center for clients using ADP's human capital management services to create engaged workforces and successful businesses. The Bucharest center currently houses about 65 employees; that number is expected to rise to as many as 500 by July 2017 given early enthusiasm from ADP clients. Specifically, the Bucharest 'center of excellence' will support clients using ADP's human capital management solutions. That support will include access to scalable, highly standardized services and support via a single phone number and email. Platform-specific specialists will leverage time-zone differences to be available for clients more frequently than in a dispersed service-center model. ADP will continue to provide quality in compliance and accuracy in HR and payroll processes, for managed and processing services.
Automatic Data Processing, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Half Year Ended December 31, 2014; Provides Earnings Guidance for the Full-Year Fiscal 2015
Feb 4 15
Automatic Data Processing, Inc. announced unaudited consolidated earnings results for the second quarter and half year ended December 31, 2014. For the quarter, the company reported total revenues of $2,661.3 million against $2,493.7 million a year ago. Earnings from continuing operations before income taxes were $501.1 million against $462.0 million a year ago. Net earnings from continuing operations were $334.0 million or $0.70 per diluted share against $314.2 million or $0.66 per diluted share a year ago. Net earnings were $331.5 million or $0.69 per diluted share against $377.0 million or $0.78 per diluted share a year ago.
For the six months, the company reported total revenues of $5,235.1 million against $4,855.7 million a year ago. Earnings from continuing operations before income taxes were $ 953.6 million against $865.6 million a year ago. Net earnings from continuing operations were $632.0 million or $1.31 per diluted share against $579.1 million or $1.20 per diluted share a year ago. Net earnings were $626.7 million or $1.30 per diluted share against $705.6 million or $1.46 per diluted share a year ago.
The company’s forecast has been updated to reflect results through the first half of the year and the expected impact from unfavorable foreign currency translation on the full year results. The company still anticipates full-year fiscal 2015 revenue growth of 7% to 8% and diluted earnings per share growth from continuing operations of 12% to 14%. This diluted earnings per share forecast includes the anticipated $0.02 per share benefit resulting from incremental share repurchases funded by the $825 million in dividend proceeds. The company now anticipates an effective tax rate of 34.2% compared with the prior forecast of 34.6%. Worldwide new business bookings are now anticipated to grow about 10% compared to the prior forecast of about 8% growth. For the Employer Services segment, the company now anticipates revenue growth of approximately 5% compared with the prior forecast of 6% to 7% due to an anticipated negative impact of about 2% points from foreign currency translation. The company still anticipates pretax margin expansion of about 100 basis points.
Automatic Data Processing Mulls Acquisition
Feb 4 15
Automatic Data Processing, Inc. (NasdaqGS:ADP) is seeking acquisition. Carlos Rodriguez, President and Chief Executive Officer of Automatic Data Processing Inc., said in Automatic Data Processing Inc. earnings call, “We actually -- we do still do acquisitions in kind of our core payroll business, as you have just described. They tend to be kind of tuck ins and they're just -- they're migrations. It may be appropriate at some point and in some cases to enhance our capabilities through M&A activity or through acquisitions. So we're, I think, continuing to look at opportunities outside the US and trying to find ways of enhancing our competitive and our growth outside the US.”
Automatic Data Processing, Inc. Declares Regular Quarterly Dividend, Payable April 1, 2015
Jan 22 15
The board of directors of Automatic Data Processing, Inc. has declared a regular quarterly dividend of 49 cents per share payable April 1, 2015 to shareholders of record on March 13, 2015.
Automatic Data Processing Inc. Appoints Arman Samani as Chief Technology Officer
Dec 9 14
Automatic Data Processing Inc. announced the appointment of Arman Samani as chief technology officer in charge of the company's technology development process. Coming to ADP AdvancedMD with over 16 years of experience in healthcare information technology and a deep background in interoperability, Samani will lead the organization's specific efforts to develop interoperable solutions tailored to smaller practices and broader goals of increasing the efficiency and viability of private practices nationwide.