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Accenture posts record revenues.

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New York: Accenture defied the world's parlous economic state yesterday with record quarterly revenues and earnings.

  • Revenues up 17% in U.S. dollars and 14% to $7.1 billion
  • EPS up 19%
  • Operating income up 19%, to $981 million, with operating margin of 13.9%
  • New bookings are $7.8 billion, with consulting bookings of $4.2 billion and outsourcing bookings of $3.6 billion
  • Firm forecasts full-year revenue growth of 7-10% in local currency

Accenture has reported strong financial results for the first quarter of fiscal 2012, ended Nov. 30, 2011, with net revenues of $7.1 billion, an increase of 17 percent in U.S. dollars and 14 percent in local currency.

Operating income was $981 million, an increase of 19 percent, and operating margin was 13.9 percent, a year-on-year expansion of 20 basis points.

Pierre Nanterme, Accenture's chief executive officer, said, "We are pleased with our strong performance in the first quarter. We generated our highest quarterly revenues ever, with double-digit local-currency growth in all five operating groups and all three geographic regions. We grew EPS by 19 percent, expanded operating margin, delivered strong bookings and continue to have a very strong balance sheet.

"Our excellent results in the first quarter give us confidence that we are executing a growth strategy that resonates with the needs of our clients in the current environment. We remain focused on delivering profitable growth through a relentless focus on industry and technology differentiation and on accelerated geographic expansion in our priority emerging markets."

Financial Review

Consulting net revenues for the quarter were $4.1 billion, an increase of 14 percent in U.S. dollars and 11 percent in local currency over the first quarter of fiscal 2011.

Outsourcing net revenues were $3.0 billion, an increase of 21 percent in U.S. dollars and 18 percent in local currency over the first quarter of fiscal 2011.

Net income for the quarter was $712 million, compared with $606 million for the first quarter last year, an increase of 18 percent.

New Bookings

New bookings for the first quarter were $7.8 billion and reflect a positive 3 percent foreign-currency impact compared with new bookings in the first quarter last year.

Consulting new bookings were $4.2 billion, or 54 percent of total new bookings. Outsourcing new bookings were $3.6 billion, or 46 percent of total new bookings.

Net Revenues by Operating Group

All five operating groups achieved double-digit revenue growth in both U.S. dollars and local currency compared with the first quarter last year. Net revenues by operating group were:

  • Communications, Media & Technology: $1.5 billion, compared with $1.3 billion for the first quarter of fiscal 2011, an increase of 20 percent in U.S. dollars and 16 percent in local currency.
  • Financial Services: $1.5 billion, compared with $1.3 billion for the first quarter of fiscal 2011, an increase of 14 percent in U.S. dollars and 11 percent in local currency.
  • Health & Public Service: $1.1 billion, compared with $932 million for the first quarter of fiscal 2011, an increase of 13 percent in U.S. dollars and 11 percent in local currency.
  • Products: $1.7 billion, compared with $1.4 billion for the first quarter of fiscal 2011, an increase of 20 percent in U.S. dollars and 17 percent in local currency.
  • Resources: $1.3 billion, compared with $1.1 billion for the first quarter of fiscal 2011, an increase of 18 percent in U.S. dollars and 15 percent in local currency.

Net Revenues by Geographic Region

All of the company's geographic regions achieved double-digit revenue growth in both local currency and U.S. dollars compared with the first quarter last year. Net revenues by geographic region were:

  • Americas: $3.1 billion, compared with $2.6 billion for the first quarter of fiscal 2011, an increase of 17 percent in U.S. dollars and 16 percent in local currency.
  • Europe, Middle East and Africa (EMEA): $3.0 billion, compared with $2.6 billion for the first quarter of fiscal 2011, an increase of 14 percent in U.S. dollars and 10 percent in local currency.
  • Asia Pacific: $991 million, compared with $775 million for the first quarter of fiscal 2011, an increase of 28 percent in U.S. dollars and 20 percent in local currency.

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