Accenture Reports Second-Quarter Fiscal 2014 Results
— Revenues increase 1% in U.S. dollars and 3% in local currency to $7.13 billion —
— EPS are $1.03; operating income is $951 million, with operating margin of 13.3% —
— Record new bookings of $10.1 billion include consulting bookings of $4.6 billion and outsourcing bookings of $5.5 billion —
— Company declares semi-annual cash dividend of $0.93 per share —
— Company updates business outlook for fiscal 2014 —
NEW YORK; Mar. 27, 2014 — Accenture (NYSE: ACN) reported financial results for the second quarter of fiscal 2014, ended Feb. 28, 2014, with net revenues of $7.13 billion, an increase of 1 percent in U.S. dollars and 3 percent in local currency over the same period last year, within the company’s guided range.
Diluted earnings per share were $1.03, compared with $1.65 for the second quarter last year, which included benefits of $243 million, or $0.34 per share, from final determinations of prior-year U.S. federal tax liabilities and $224 million, or $0.31 per share, from a reduction in reorganization liabilities. Excluding these benefits, diluted EPS for the second quarter last year were $1.00.
Operating income for the quarter was $951 million, or 13.3 percent of net revenues, compared with $1.16 billion, or 16.5 percent of net revenues, for the second quarter last year, which included the benefit of $224 million from the reduction in reorganization liabilities. Excluding the benefit, operating income for the second quarter of fiscal 2013 was $940 million, or 13.3 percent of net revenues.
New bookings for the quarter were a record $10.1 billion, with consulting bookings of $4.6 billion and outsourcing bookings of $5.5 billion.
Pierre Nanterme, Accenture’s chairman and CEO, said, “In the second quarter, we delivered revenues within our guided range, reported solid earnings per share and returned substantial cash to shareholders. We continued to see very strong demand for our services, with $10.1 billion in new bookings, including record consulting and record outsourcing bookings.
“Looking ahead, we are well-positioned to deliver our business outlook for the year, given our outstanding year-to-date bookings of $18.8 billion as well as the activity and client interest we see in the marketplace. We remain focused on the successful execution of our growth strategy, and are confident in our ability to deliver value to our clients and our shareholders.”
Revenues before reimbursements (“net revenues”) for the second quarter of fiscal 2014 were $7.13 billion, compared with $7.06 billion for the second quarter of fiscal 2013, an increase of
The following information was filed by Accenture Sca (SCA) on Thursday, March 27, 2014 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.