Accenture Reports Strong First-Quarter Fiscal 2009 Results
Revenues increase 6% in U.S. dollars and 9% in local currency, to $6.02 billion
EPS up 24%, to $0.74
Operating income up 12%, to $815 million;
Operating margin expands 70 basis points, to 13.5%
NEW YORK; Dec. 18, 2008 Accenture (NYSE: ACN) reported strong financial results for the first
quarter of fiscal 2009, ended Nov. 30, 2008, with net revenues of $6.02 billion, an increase of 6
percent in U.S. dollars and 9 percent in local currency over the same period last year. Diluted
earnings per share were $0.74, an increase of 24 percent.
Operating income grew 12 percent, to $815 million, and operating margin expanded 70 basis points,
to 13.5 percent.
New bookings for the quarter were $5.80 billion, with consulting bookings of $3.56 billion and
outsourcing bookings of $2.24 billion.
William D. Green, Accentures chairman & CEO, said, Were very pleased with our strong
first-quarter performance, especially given the macro-economic environment. Demand patterns are
changing but remain very active and positive looking forward. We drove revenue growth right to the
bottom line, expanding operating margin by 70 basis points and delivering outstanding earnings per
share. We also generated significant cash flow, and our balance sheet continues to be
Our strong client relationships, global presence, relevant and diversified service offerings and
financial strength are great advantages in this environment. Our results clearly demonstrate both
our relative resistance to the economic turmoil and the close and disciplined management of our
business. We are revising our business outlook for the rest of the year primarily to reflect
changing foreign-currency assumptions. We are also making a modest and prudent adjustment to our
revenue outlook given overall market uncertainty. That said, we are positive about the business
and about how we are managing it to ensure that we continue to deliver exceptional
value to our clients and strong results for our shareholders.
Revenues before reimbursements (net revenues) for the first quarter of fiscal 2009 were $6.02
billion, compared with $5.67 billion in the first quarter of fiscal 2008, an increase of 6 percent
in U.S. dollars and 9 percent in local currency. Net revenues for the first quarter of fiscal 2009
reflect a foreign-exchange impact of negative 3 percent, greater than the negative 1 percent to
positive 1 percent impact the company had previously assumed. Adjusting for the actual
foreign-exchange impact in the first quarter, the companys
previously expected net revenue range for the quarter
would have been $5.9 billion to $6.2 billion. Therefore,
Accentures first-quarter fiscal 2009 net revenues of $6.02 billion were
solidly within the expected range.