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TheStreet Open House

Accenture Reports Fourth-Quarter And Full-Year Fiscal 2012 Results, With Record Annual Revenues, EPS, Operating Margin, Free Cash Flow And New Bookings

Financial Review

Fourth Quarter Fiscal 2012

Net revenues for the fourth quarter of fiscal 2012 were $6.84 billion, compared with $6.69 billion for the fourth quarter of fiscal 2011, an increase of 2 percent in U.S. dollars and 9 percent in local currency and at the upper end of the company’s guided range of $6.6 billion to $6.85 billion. The foreign-exchange impact of negative 7 percent for the quarter was consistent with the assumption provided in the company’s third-quarter earnings release.

  • Consulting net revenues were $3.74 billion, a decrease of 4 percent in U.S. dollars and an increase of 2 percent in local currency compared with the fourth quarter of fiscal 2011.
  • Outsourcing net revenues were $3.1 billion, an increase of 10 percent in U.S. dollars and 18 percent in local currency compared with the fourth quarter of fiscal 2011.

Diluted EPS for the fourth quarter were $0.88, compared with $0.91 for the fourth quarter last year. The $0.03 decrease in EPS reflects:

  • $0.03 from higher revenue and operating results, including the unfavorable impact of foreign exchange; and
  • $0.03 from a lower share count;

more than offset by

  • $0.08 from a higher effective tax rate; and
  • $0.01 from lower non-operating income.

Gross margin (gross profit as a percentage of net revenues) for the fourth quarter was 32.9 percent, compared with 33.1 percent for the fourth quarter of fiscal 2011. Selling, general and administrative (SG&A) expenses for the fourth quarter were $1.31 billion, or approximately 19.2 percent of net revenues, compared with $1.29 billion, or approximately 19.4 percent of net revenues, for the fourth quarter of fiscal 2011.

Operating income for the fourth quarter of fiscal 2012 was $940 million, or 13.8 percent of net revenues, compared with $923 million, or 13.8 percent of net revenues, for the fourth quarter of fiscal 2011.

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