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Accenture Management Discusses Q3 2012 Results - Earnings Call Transcript

We continue to have a very strong balance sheet, ending the quarter with a cash balance of $5.6 billion. And we returned more than $1.1 billion in cash to shareholders through share repurchases and the payment of our semi-annual cash dividend. Given how we see our business shaping up for the year, we are confirming our outlook for revenue growth of 10% to 12% for the year.

Now let me hand over to Pam who will review the numbers in greater detail. Pam, over to you.

Pamela J. Craig

Thank you, Pierre, and thanks to all of you for listening today. I am pleased to give you some details on Accenture's fiscal year 2012 third quarter financial results. We delivered solid bookings, tracking to our full year outlook and revenues right at the midpoint of the Q3 range we provided in March.

Revenue growth was driven by continued strength in outsourcing and demand that spans our global operating groups for our diverse mix of service offerings. We also delivered overall margin expansion and continue to drive strong cash flow. We achieved double-digit EPS growth for the quarter, reflecting the profitable growth in our business. And we continue to have a strong balance sheet.

Now let's get to the numbers. Unless I state otherwise, all figures are U.S. GAAP except the items that are not part of the financial statements or that are calculations. New bookings for the quarter were $7.29 billion and reflect a negative 4% foreign exchange impact compared with new bookings in the third quarter last year. Consulting bookings were $4.05 billion, and outsourcing bookings were $3.24 billion. And as a reminder, our outsourcing bookings in particular can be lumpy from quarter to quarter.

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