NEW YORK (
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
. 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
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
, 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."
Analysts were expecting a profit of 9 cents a share from DynaVox on revenue of $27.7 million for the three months ended Oct. 1. On Aug. 25, when the company reported its fourth-quarter results, DynaVox forecast net sales growth of 14% to 17% for fiscal 2011 with adjusted pro forma earnings of 56 and 62 cents a share and adjusted EBITDA
earnings before interest, taxes, depreciation and amortization projected to grow 15%-20%.
The weakness in DynaVox's is striking given the company just went public in late April, selling upwards of 9 million shares at $15 each. The stock is now down 65% off a high of $19.20 on June 16.
"During our fiscal fourth quarter conference call, we discussed the impact on our business of the challenges facing international economies and the pressures on U.S. state and school budgets," said Ed Donnelly, the company's CEO, in a statement. "Unfortunately, the impact of these factors on our fiscal first quarter results was more than we had anticipated."
DynaVox said it plans to report its fiscal first-quarter results after the closing bell on Nov. 11.
Written by Michael Baron in New York.
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