ADP 2007 Annual Report Download - page 4

Download and view the complete annual report

Please find page 4 of the 2007 ADP annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 38

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38

2
Our leadership is strong. Mike Martone, who was most recently the group president of Employer Services, was named chief operating
officer this year. In addition, we promoted Kris Borkovich, Laurie Eldridge, Ed Flynn, and Al Nietzel to the position of corporate vice
president in recognition of their important contributions to our success.
New ADP Chairman
Art Weinbach, ADPs former chief executive officer and current non-executive chairman, will retire from ADP’s board of directors
effective November 13, 2007, in accordance with ADP’s corporate governance principles regarding CEO transitions. Art was an
invaluable resource for me this year and deserves much of the credit in the highly successful tax-free spin-off of our BSG business.
Art is currently executive chairman of Broadridge Financial Solutions, Inc., our former BSG business.
I am pleased to announce that Les Brun will become the new non-executive chairman of ADP upon Art’s retirement. Les is the
chairman and chief executive officer of Sarr Group, LLC, an investment holding company. Les has served as an ADP director since
2003, and was also chairman of ADPs nominating / corporate governance committee from 2005 through August 2007.
Ann Jordan retired from the ADP board effective August 2007. Ann had been a director since 1993 and we thank her for many
years of valuable counsel and participation in ADPs ongoing success.
A Look to ADP’s Future
As we move forward from fiscal 2007 we do so from a position of strength. We continue to invest in new products, to enhance our
service delivery processes, and to expand our distribution resources, all of which are critical to our future success. I believe we are
executing the right strategies with an excellent foundation for sustained double-digit revenue growth and increasing profitability over time.
I am also pleased that our recent fiscal 2008 forecasts of approximately 12% revenue growth and 18% to 21% diluted earnings per
share growth, up from $1.80 in fiscal 2007 excluding the first quarter net one-time gain, are very much in line with our excellent
performance in fiscal 2007 and fully in sync with our strategic priority to increase shareholder value.
Thank you for your continued confidence in ADP. I am very excited about the long-term prospects for our Company.
TABLE OF
CONTENTS
Letter to Shareholders
03 Financial Highlights
04 Perspectives
08 Employer Services
22 Dealer Services
28 Financial Statements
32 Board of Directors and
Corporate Officers
34 Corporate Information
Inside Front
Cover
Gary C. Butler
PRESIDENT &CHIEF EXECUTIVE OFFICER August 29, 2007