ADP 2004 Annual Report Download - page 31

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29
Automatic Data Processing, Inc. and Subsidiaries
Forward-looking Statements
This report and other written or oral statements made from time
to time by ADP may contain “forward-looking statements” with-
in the meaning of the Private Securities Litigation Reform Act of
1995. Statements that are not historical in nature and which
may be identified by the use of words like “expects,” “assumes,”
“projects,” “anticipates,” “estimates,” “we believe,” “could be”
and other words of similar meaning, are forward-looking state-
ments. These statements are based on management’s expecta-
tions and assumptions and are subject to risks and uncertainties
that may cause actual results to differ materially from those
expressed. Factors that could cause actual results to differ mate-
rially from those contemplated by the forward-looking state-
ments include: ADP’s success in obtaining, retaining and selling
additional services to clients; the pricing of products and servic-
es; changes in laws regulating payroll taxes, professional employ-
er organizations and employee benefits; overall market and eco-
nomic conditions, including interest rate and foreign
currency trends; competitive conditions; stock market activity;
auto sales and related industry changes; employment and wage
levels; changes in technology; availability of skilled technical
associates and the impact of new acquisitions and divestitures.
ADP disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.