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Automatic Data: Adp Reports First Quarter Fiscal 2016 Results EXHIBIT 99.1

The following excerpt is from the company's SEC filing.

ADP Reports First Quarter Fiscal 2016 Results

Worldwide new business bookings grew 13% for the quarter

Revenues increased 6% to $2.7 billion, 9% on a constant dollar basis

Diluted earnings per share from continuing operations increased 16% to $0.72, adjusted diluted earnings per share from continuing operations increased 10% to $0.68, 11% on a constant dollar basis

ADP completed a $2.0 billion offering of senior notes during the quarter and intends to use the proceeds to repurchase stock over the next 12 to 24 month period, subject to market conditions

ADP acquired 4. 2 million shares of its stock for treasury at a cost of $334 million in the quarter

ROSELAND, N.J., Oct. 28, 2015 (GLOBE NEWSWIRE) -- ADP® (Nasdaq:ADP), a leading global provider of Human Capital Management (HCM) solutions, today announced its first quarter fiscal 2016 financial results. Compared to last year's first quarter, revenues grew 6% to $2.7 billion, 9% on a constant dollar basis. Adjusted EBIT, which excludes a $29 million gain on the sale of our AdvancedMD business, grew 6% to $477 million, or 8% on a constant dollar basis. Adjusted EBIT margin expanded about 10 basis points in the quarter to 17.6%. Diluted earnings per share from continuing operations increased 16% to $0.72, and adjusted diluted earnings per share from continuing operations increased 10% to $0.68, 11% on a constant dollar basis, reflecting a lower effective tax rate and fewer shares outstanding compared with last year's first quarter.

Constant dollar, adjusted EBIT, adjusted EBIT margin, and adjusted diluted earnings per share from continuing operations are non-GAAP financial measures. ADP believes that the EBIT performance measures best reflect the underlying operations of the business model following the introduction of long-term debt to our capital structure during the first quarter. For ADP's definition of EBIT, see the paragraph "Non-GAAP Financial Information" at the end of this release. Please refer to the accompanying financial tables for a reconciliation of non-GAAP financial measures to their comparable GAAP measures.

"ADP had a good start to fiscal 2016, and we continue to experience very good momentum in new business bookings," said Carlos Rodriguez, president and chief executive officer, ADP. "Our new business bookings performance for the quarter reflects the confidence our clients have in ADP's ability to assist them with their HCM needs, including compliance with the Affordable Care Act. As a result of this solid start, we now expect new business bookings growth of at least 10% for fiscal 2016."

"Our business performed well in the quarter, posting solid revenue growth despite continued headwinds from foreign currency translation," said Jan Siegmund, chief financial officer, ADP. "Because of the added expense pressure we expect from continued strong new business bookings, along with investments required to convert these bookings into new recurring revenue, we now expect adjusted diluted earnings per share growth will be at the lower end of our 12% to 14% range for the fiscal year. We believe these investments will position ADP well for future growth."

First Quarter 2016 Segment Results

Employer Services

– Employer Services offers a comprehensive range of HCM and business outsourcing solutions.

Employer Services revenues increased 3% compared to last year's first quarter, 7% on a constant dollar basis.

The number of employees on ADP clients' payrolls in the United States increased 2.3% for the first quarter when measured on a same-store-sales basis for a subset of clients ranging from small to large businesses.

Employer Services client revenue retention declined 160 basis points compared to last year's first quarter from elevated losses in legacy client platforms.

Employer Services segment margin decreased approximately 50 basis points compared to last year's first quarter. This decrease was primarily driven by increased selling expenses and anticipated investments made in operational resources to support new business.

PEO Services

– PEO Services provides comprehensive employment administration outsourcing solutions through a co-employment relationship.

PEO Services revenues increased 18% compared to last year's first quarter.

PEO Services segment margin increased approximately 130 basis points compared to last year's first quarter, primarily driven by lower selling expenses and operational efficiencies.

Average worksite employees paid by PEO Services increased 13% for the quarter to approximately 389,000.

Interest on Funds Held for Clients

The safety, liquidity and diversification of ADP clients' funds are the foremost objectives of the company's investment strategy. Client funds are invested in accordance with ADP's prudent and conservative investment guidelines and the credit quality of the investment portfolio is predominantly AAA/AA.

For the first quarter, interest on funds held for clients decreased 3% to $88 million from $90 million a year ago.

Average client funds balances increased 3% in the first quarter to $19.4 billion compared to $18.7 billion a year ago. On a constant dollar basis, average client funds balances increased 6%.

The average interest yield on client funds declined about 10 basis points in the first quarter to 1.8% compared to 1.9% a year ago.

Other Notable First Quarter Items

In September, ADP issued $2.0 billion in debt securities comprised of $1.0 billion of 2.250% senior notes due September 2020 and $1.0 billion of 3.375% senior notes due September 2025. ADP intends to use the proceeds of this debt offering to repurchase shares of its common stock over the next 12 to 24 month time period, subject to market conditions.

Also in September, ADP completed the sale of its AdvancedMD business for a gain of $29 million as part of its strategy to become fully focused on HCM. The results of operations of this business have been restated from the Employer Services segment to the "Other" segment to best reflect the performance of the Employer Services business for comparable periods. The restated segment financials are available in the supplemental schedules on ADP's investor relations website at investors.adp.com.

Fiscal 2016 Outlook

ADP's fiscal 2016 outlook excludes the impact of the gain on sale of the AdvancedMD business.

Reflecting strong first quarter new business bookings results, ADP now anticipates growth in worldwide new business bookings of at least 10% over $1.6 billion sold in fiscal 2015, compared to our prior forecast of 8% to 10%.

Due to the divestiture of the AdvancedMD business, ADP now anticipates revenue growth of 7% to 8%, compared to our prior forecast of 7% to 9%. This forecast includes an anticipated negative impact of one to two percentage points due to unfavorable foreign currency translation.

Revenue growth for fiscal 2016 is expected to be lower in the first half 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. Therefore, ADP anticipates revenue growth to be below the full year guidance range of 7% to 8% in the second quarter of fiscal 2016, and above the full year guidance range of 7% to 8% in the third and fourth quarters of fiscal 2016. On a constant dollar basis, revenue growth is anticipated to be 8% to 9% for the full year.

The full-year fiscal 2016 forecast for adjusted diluted earnings per share growth remains unchanged at 12% to 14%, or 13% to 15% on a constant dollar basis. ADP now expects this growth...


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