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Accenture Reports Strong Fourth-Quarter Results and Full-Year Fiscal 2010 Results
In Line with Expectations
Fourth-quarter revenues increase 5% in U.S. dollars and 8% in local currency, to $5.42 billion;
quarterly EPS are $0.66
Full-year results include revenues of $21.55 billion, EPS of $2.66, operating margin of 13.5%
and strong free cash flow of $2.85 billion
New bookings are $6.5 billion for fourth quarter and $25.0 billion for full year
Company increases semi-annual cash dividend to $0.45 per share
For fiscal year 2011, Accenture continues to expect net revenue growth of 7% to 10% in local
currency and increases outlook for annual EPS growth to 13% to 16%
NEW YORK; Sept. 30, 2010 Accenture (NYSE: ACN) reported strong financial results for the fourth quarter of fiscal 2010, ended Aug. 31, and full-year results in line with the companys expectations.
For the fourth quarter, revenues before reimbursements (net revenues) were $5.42 billion, an increase of 5 percent in U.S. dollars and 8 percent in local currency compared with the fourth quarter of fiscal 2009. Diluted earnings per share were $0.66. New bookings were $6.5 billion. Operating margin was 13.2 percent. Free cash flow was $1.15 billion.
For the full fiscal year, net revenues were $21.55 billion, flat in U.S. dollars and a decrease of 2 percent in local currency compared with fiscal 2009. Diluted earnings per share were $2.66. New bookings were $25.0 billion. Operating margin was 13.5 percent. Free cash flow was $2.85 billion, which exceeded the top end of the companys expectations by $350 million.
In addition, Accentures Board of Directors has declared a semi-annual cash dividend of $0.45 per share, an increase of 7.5 cents per share, or 20 percent, over its previous semi-annual dividend, declared in March.
William D. Green, Accentures chairman & CEO, said, Were very pleased with our financial results, with our strong fourth-quarter performance demonstrating further evidence of our growth and momentum. We managed our business well and accelerated actions to grow revenue and expand operating margin. And our strong bookings including consulting bookings of more than $3.5 billion show increasing demand for our services. We generated significant free cash flow, and our balance sheet remains exceptionally strong. We continued our commitment to return cash to shareholders through an increased semi-annual cash dividend, declared today, and through the repurchase of more than $2 billion of our shares during fiscal 2010.
We are working at the heart of our clients businesses, helping them navigate the changing global environment and improve their performance. We will continue to invest in our core business, as well as in new growth areas and markets, to deliver increasing value to both our clients and shareholders. Despite ongoing challenges in the global economy, we are well-positioned for growth and expansion in the year ahead.
The following information was filed by Accenture Sca (SCA) on Thursday, September 30, 2010 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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