ADP 1998 Annual Report Download - page 21

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19
(In thousands, except per share amounts)
Years ended June 30, 1998 1997 1996
Revenue $4,798,061 $4,112,186 $3,566,597
Operating expenses 2,063,145 1,722,846 1,516,407
General, administrative and selling expenses 1,206,844 1,117,557 933,805
Systems development and programming costs 375,214 296,544 249,635
Depreciation and amortization 244,616 223,435 201,629
Interest expense 24,042 27,794 29,731
3,913,861 3,388,176 2,931,207
Earnings before income taxes 884,200 724,010 635,390
Provision for income taxes 278,900 210,510 180,690
Net earnings $ 605,300 $ 513,500 $ 454,700
Basic earnings per share $ 2.04 $ 1.76 $ 1.57
Diluted earnings per share $ 1.98 $ 1.71 $ 1.53
Basic shares outstanding 296,878 290,990 288,967
Diluted shares outstanding 310,411 306,659 305,009
See notes to consolidated financial statements.
AUTOMATIC DATA PROCESSING, INC. AND SUBSIDIARIES
STATEMENTS OF CONSOLIDATED EARNINGS