Shares of consulting giant Accenture surged in extended trades on strong quarterly numbers, while recent IPO DynaVox dropped after withdrawing its financial outlook due to soft demand for its education software products.
NEW YORK ( TheStreet) -- Accenture ( ACN) shares got a boost late Thursday after the New York-based consulting giant topped Wall Street's expectations for its quarterly results, lifted its outlook for fiscal 2011 and amped up ts dividend. The stock was up 3.4% to $43.93 on volume of roughly 420,000 after the closing bell, according to Nasdaq.com. Based on the regular session's close at $42.49, the shares were up almost 2% year-to-date, and the afterhours lift puts them in shouting distance of a 52-week high of $44.67 on April 26. The stock was sitting below $37 at the start of September, but rallied along with the broad market. For the three months ended August 31, Accenture earned $504 million, or 66 cents a share, on revenue of $5.42 billion, beating the average estimate of analysts polled by Thomson Reuters for a profit of 63 cents a share on revenue of $5.31 billion in the period.
The company said it now expects earnings of $3 to $3.08 per share in fiscal 2011, a forecast for growth of 13%-16%. Its prior view was for growth of 12%-15%. Wall Street's current consensus calls for a profit of $2.92 a share in the year ending next August. Accenture took its semi-annual cash dividend up 20% to 45 cents a share. A big loser in extended trades was DynaVox ( DVOX), which was down almost 19% to $6.59 on volume of around 170,000. The move came after the Pittsburgh-based education software maker warned Wall Street that its fiscal first-quarter results would be weak and withdrew its outlook for the whole of fiscal 2011, citing soft demand "for both its speech generating devices and software products."