Zoho Sheet - ADP: Income Statement-2009Q3

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Automatic Data Processing ($M)

30 Sep 2009

30 Jun 2009

31 Mar 2009

31 Dec 2008

30 Sep 2008

30 Jun 2008

31 Mar 2008

31 Dec 2007

30 Sep 2007

30 Jun 2007

31 Mar 2007

		(actual)	(predicted)	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)	(actual)
Revenue		$2,103	$2,000	$2,108	$2,375	$2,203	$2,182	$2,207	$2,427	$2,150	$1,992	$2,000	$2,171
Operating Expenses
	Cost of Goods Sold	($1,007)	($930)	($1,008)	($1,040)	($1,007)	($1,047)	($994)	($1,034)	($980)	($908)	($876)	($891)
	Depreciation	($60)	($60)	($61)	($60)	($57)	($59)	($61)	($59)	($60)	($59)	($55)	($54)
	Research & development	($126)	($125)	($127)	($119)	($123)	($130)	($141)	($132)	($129)	($124)	($130)	($122)
	Selling, General & Administrative	($493)	($525)	($577)	($520)	($573)	($527)	($697)	($585)	($555)	($534)	($649)	($550)
	Special operating charges
Operating income		$417	$360	$334	$636	$443	$418	$315	$618	$427	$366	$290	$554
	Gains on investments
	Gains on asset sales
	Net interest and other income	$31	$20	$27	($7)	$31	$23	$40	$18	$13	$15	$18	$17
Income before taxes		$447	$380	$361	$629	$473	$441	$354	$636	$441	$382	$307	$571
	Provisions for income taxes	($163)	($137)	($14)	($227)	($173)	($163)	($128)	($232)	($149)	($141)	($114)	($211)
Net income before adjustments		$284	$243	$347	$403	$300	$278	$226	$404	$292	$240	$194	$360
	Equity income - Minority interests
	Income from discontinued ops			$5	$0	$0	($1)	$8	$10	($0)	$57	$1	$29
Net income		$284	$243	$353	$403	$301	$277	$234	$414	$291	$297	$195	$389
Earnings Per Share		$0.56	$0.49	$0.70	$0.80	$0.59	$0.54	$0.45	$0.79	$0.55	$0.55	$0.35	$0.70

Shares Outstanding		503.7	500	503	502	506	514	520	523	530	536	552	559
Price per share		$39.30		$35.44	$35.16	$39.34	$42.75	$41.90	$42.39	$44.53	$45.93	$48.47	$48.40
Market Value		$19,795	$0	$17,819	$17,664	$19,906	$21,974	$21,788	$22,170	$23,601	$24,618	$26,755	$27,056

Revenue growth from year-earlier		-3.6%	-8.3%	-4.5%	-2.2%	2.5%	9.5%	10.4%	11.8%
Operating income growth from year-earlier		-0.3%	-13.9%	6.1%	2.9%	3.6%	14.1%	8.6%	11.4%
Net income growth from year-earlier		2.6%	-12.2%	51.1%	-2.7%	3.2%	-6.9%	19.9%	6.4%
EPS growth from year earlier		4.7%	-9.7%	56.3%	1.3%	8.1%	-2.9%	27.3%	13.7%

CGS/Revenue		47.9%	46.5%	47.8%	43.8%	45.7%	48.0%	45.0%	42.6%	45.6%	45.6%	43.8%	41.1%
Gross Margin		52.1%	53.5%	52.2%	56.2%	54.3%	52.0%	55.0%	57.4%	54.4%	54.4%	56.2%	58.9%
Depreciation/Revenue		2.9%	3.0%	2.9%	2.5%	2.6%	2.7%	2.7%	2.4%	2.8%	3.0%	2.7%	2.5%
R&D/Revenue		6.0%	6.3%	6.0%	5.0%	5.6%	6.0%	6.4%	5.4%	6.0%	6.2%	6.5%	5.6%
SG&A/Revenue		23.4%	26.3%	27.4%	21.9%	26.0%	24.1%	31.6%	24.1%	25.8%	26.8%	32.5%	25.3%
Income tax rate		36.5%	36.0%	3.8%	36.0%	36.5%	37.0%	36.2%	36.5%	33.8%	37.0%	36.9%	37.0%


Revenue (TTM)		$8,789	$8,686	$8,867	$8,967	$9,019	$8,966	$8,776	$8,569	$8,313
Net Income (TTM)		$1,340	$1,299	$1,333	$1,213	$1,225	$1,215	$1,236	$1,197	$1,172
EPS (TTM)		$2.66	$2.58	$2.63	$2.38	$2.37	$2.33	$2.34	$2.24	$2.15

Revenue growth year-on-year		-1.98%	-3.13%	1.03%	4.64%	8.50%	N/A	N/A	N/A	N/A
Net Income growth year-on-year		10.26%	6.90%	7.85%	1.38%	4.46%	N/A	N/A	N/A	N/A

Price/Revenue (TTM)		2.25	0	2.01	1.97	2.21	2.45	2.48	2.59	2.84
Price/Earnings (TTM)		14.77	0	13.37	14.56	16.26	18.08	17.63	18.52	20.13

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