ROSELAND (dpa-AFX) - Payroll processor Automatic Data Processing Inc. (ADP) reported that its fourth-quarter net earnings rose to $288.7 million or $0.60 per share from $227.0 million or $0.47 per share in the year-ago period.
Adjusted earnings per share from continuing operations for the quarter were $0.63, compared to $0.55 in the year-ago period. On average, twenty three analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 10 percent to $3.07 billion from $2.80 billion in the year ago quarter. Street expected revenues of $3.03 billion.
For fiscal 2015, ADP forecasts earnings per share from continuing operations to grow 11 to 13 percent, compared with adjusted earnings of $3.14 in 2014. The company also projects full-year revenue growth of 7 to 8 percent.
Analysts expect the company to earn $3.49 per share for the year on annual revenues of $13.13 billion.
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