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Accenture Ltd (1134538) SEC Filing 10-Q Quarterly report for the period ending Sunday, November 30, 2008

Accenture Ltd

CIK: 1134538
Exhibit 99.1
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, Accenture’s chairman & CEO, said, “We’re 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 exceptionally strong.
“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.”
Financial Review
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 company’s previously expected net revenue range for the quarter would have been $5.9 billion to $6.2 billion. Therefore, Accenture’s first-quarter fiscal 2009 net revenues of $6.02 billion were solidly within the expected range.

 


The following information was filed by Accenture Ltd on Thursday, December 18, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 1134538
Form Type: 10-Q Quarterly Report
Accession Number: 0000950137-08-014509
Submitted to the SEC: Fri Dec 19 2008 4:51:33 PM EST
Accepted by the SEC: Fri Dec 19 2008
Period: Sunday, November 30, 2008
Industry: Business Services

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