ADP 1999 Annual Report Download - page 28

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18
(In thousands, except per share amounts)
Years ended June 30, 1999 1998 1997
Revenues, other than PEO $5,379,758 $4,789,236 $4,109,708
PEO revenues (net of pass-through costs of $1,748,841
$1,293,866 and $723,429, respectively) 160,383 136,720 83,739
Total revenues 5,540,141 4,925,956 4,193,447
Operating expenses 2,376,172 2,149,343 1,765,959
General, administrative and selling expenses 1,375,192 1,237,403 1,150,121
Systems development and programming costs 412,380 376,485 297,794
Depreciation and amortization 272,807 247,625 224,910
Interest expense 19,090 24,383 28,224
4,455,641 4,035,239 3,467,008
Earnings before income taxes 1,084,500 890,717 726,439
Provision for income taxes 387,660 282,455 211,195
Net earnings $ 696,840 $ 608,262 $ 515,244
Basic earnings per share $ 1.13 $ 1.01 $ .88
Diluted earnings per share $ 1.10 $ .98 $ .85
Basic shares outstanding 615,630 600,803 588,112
Diluted shares outstanding 636,892 628,196 620,117
See notes to consolidated financial statements.
Automatic Data Processing, Inc. and Subsidiaries
Statements of Consolidated Earnings