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

Stocks in this article: ACN

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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