automatic data processing (ADP) Key Developments
The Hackett Group and ADP Join Forces to Deliver Best Practices to Large Businesses through ADP Vantage HCM
Aug 5 15
The Hackett Group, Inc. announced that it has signed an agreement with ADP that will add a dedicated Hackett best practices advisory program to ADP’s Vantage HCM® solution. ADP Vantage HCM is a cloud-based human capital management (HCM) solution that helps organizations find, develop and retain great people. It is an integrated platform that addresses the strategic needs of HR, as well as the compliance and risk mitigation aspects of talent, benefits, payroll, and time and labor management. By augmenting ADP Vantage HCM with industry best practices from The Hackett Group, clients will enhance their ability to achieve business outcomes by better aligning their HR services with their business strategy.
Automatic Data Processing, Inc. Announces Board Changes
Aug 5 15
On August 3, 2015, the Board of Directors of Automatic Data Processing, Inc. appointed Peter Bisson as a new director of the company. Bisson was also appointed to serve on the Corporate Development and Technology Advisory Committee of the Board. On August 4, 2015, Leslie A. Brun, the non-executive Chairman of the Board, notified the Board that he will not stand for re-election as a director of the company at the company's 2015 annual meeting of stockholders, and intends to retire and resign from the Board effective as of the date of the 2015 meeting. Also on August 4, 2015, the Board elected John P. Jones, a current director, to serve as the non-executive Chairman of the Board upon Brun's retirement from the Board, to take effect at the conclusion of the 2015 meeting.
Automatic Data Processing, Inc. Declares Regular Quarterly Dividend, Payable October 1, 2015
Aug 4 15
The board of directors of Automatic Data Processing, Inc. has declared a regular quarterly dividend of 49 cents per share payable October 1, 2015 to shareholders of record on September 11, 2015.
Integrated Design, Inc. Joins ADP Marketplace to Help Companies Integrate Applications with ADP Workforce Now
Aug 4 15
Integrated Design, Inc. announced the availability of Time Bank™ as part of the ADP Marketplace to help companies integrate hundreds of different applications with ADP Workforce Now®. Time Bank has been used by thousands of ADP clients to reliably transfer data between ADP solutions and their point-of-sale, call center, mobile, ERP, time & attendance, payroll, internal data warehouses and many other systems. In addition, Time Bank's flexible parameters can be configured to help automate complex pay policies for incentive rates, grant funding, job costing and many other business rules being managed manually or in spreadsheets. Time Bank joins an ever-growing lineup of critical HCM and business applications that enable employers to optimize decision-making by seamlessly integrating workforce data across their company through secure ADPapplication programming interfaces (APIs).
Automatic Data Processing, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2015; Provides Earnings Guidance for the Full-Year Fiscal 2016 and Provides Revenue Guidance for the First Quarter, Second Quarter, Third Quarter and Fourth Quarter of Fiscal 2016
Jul 30 15
Automatic Data Processing, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended June 30, 2015. For the quarter, the company's total revenues were $2,694.5 million compared to $2,566.6 million a year ago. Earnings from continuing operations before income taxes were $381.6 million compared to $357.0 million a year ago. Net earnings from continuing operations was $257.0 million or $0.55 per diluted share compared to $233.2 million or $0.48 per diluted share a year ago. Net earnings were $336.2 million or $0.72 per diluted share compared to $288.7 million or $0.60 per diluted share a year ago. Revenues from continuing operations grew 5% and were negatively impacted 3% points by unfavorable foreign currency translation. Pretax earnings grew 7% and were negatively impacted 2% points by unfavorable foreign currency translation.
For the year, the company's total revenues were $10,938.5 million compared to $10,226.4 million a year ago. Earnings from continuing operations before income taxes were $2,070.7 million compared to $1,879.2 million a year ago. Net earnings from continuing operations was $1,376.5 million or $2.89 per diluted share compared to $1,242.6 million or $2.57 per diluted share a year ago. Net earnings were $1,452.5 million or $3.05 per diluted share compared to $1,515.9 million or $3.14 per diluted share a year ago. Revenues from continuing operations grew 7% and were negatively impacted 2% points by unfavorable foreign currency translation. Pretax earnings grew 10% and were negatively impacted 1% points by unfavorable foreign currency translation.
The company anticipates full-year fiscal 2016 revenue growth of 7% to 9% compared to fiscal 2015 revenue of $10.9 billion. This forecast includes an anticipated negative impact of 1% to 2% points due to unfavorable foreign currency translation. ADP forecasts diluted earnings per share from continuing operations to grow 12% to 14% compared with $2.89 per share in fiscal 2015, including an expected negative impact of about 1% point due to unfavorable foreign currency translation. This earnings per share forecast does not assume incremental share repurchases beyond anticipated dilution related to employee benefit plans. The company's earnings growth forecast represents an anticipated pretax margin expansion of about 50 basis points from 18.9% in fiscal 2015. Additionally, the company anticipates an effective tax rate of 33.7% compared with 33.5% in fiscal 2015. Worldwide new business bookings are anticipated to grow 8% to 10% compared to over $1.6 billion sold in fiscal 2015. Revenue growth for fiscal 2016 is expected to be lower in the first and second quarters of the fiscal year due to continued negative impacts expected from foreign currency translation, as well as the expected timing of starts that will convert to new recurring revenue from new business bookings sold during the fourth quarter of fiscal 2015. The company anticipates capital expenditures of $225 million to $250 million in fiscal year 2016.
The company anticipates revenue growth to be below the guidance range of 7% to 9% in the first and second quarters of fiscal 2016.
The company anticipates revenue growth to be above the guidance of 7% to 9% in the third and fourth quarters of fiscal 2016.