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ADP earnings from continuing operations rise
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NEW YORK, July 31 (Reuters) - Automatic Data Processing Inc. ADP.N, which processes paychecks, said on Tuesday quarterly earnings from continuing operations rose 38 percent, as the number of employees on its corporate clients' payrolls increased.
The Roseland, New Jersey-based company said fourth-quarter earnings from continuing operations were $193.8 million, or 35 cents a share, compared with $140.9 million, or 25 cents, a year earlier.
Net income declined to $194.7 million, or 35 cents a share, from $703.7 million, or $1.23, last year.
Net income figures for the year-ago quarter included 98 cents of earnings per share from discontinued operations, most notably the company's claims service group, which ADP sold in April 2006 for $975 million in cash.
Total revenue for the fiscal fourth quarter rose to $1.9998 billion from $1.77 billion a year earlier.
((Reporting by Dan Wilchins, editing by Mark Porter; Reuters Messaging: dan.wilchins.reuters.com@reuters.net; +1 646 223 6320)) Keywords: ADP RESULTS/
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