Operating income for the quarter increased 7 percent, to $1.05 billion, or 14.5 percent of net revenues, compared with $981 million, or 13.9 percent of net revenues, for the first quarter of fiscal 2012. The operating margin expansion of more than 60 basis points reflects improvements in contract profitability and overall cost management compared with the first quarter last year.The company’s effective tax rate for the quarter was 26.8 percent, compared with 28.3 percent for the first quarter last year. The lower rate in the first quarter of fiscal 2013 was primarily due to higher benefits related to final determinations of prior-year tax liabilities.
Accenture Reports First-Quarter Fiscal 2013 Results, With Record Quarterly Revenues And EPS
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