Accenture Q4 net falls 7 per cent to USD 636m

Global technology and consultancy giant Accenture said its fourth-quarter profit fell 7 per cent to USD 636 million on account of higher tax rates.

It said, however, that the company expects earnings for FY'13 (September-August) to be in the range of USD 4.22 to USD 4.30 per share amid gains in its outsourcing business.

For fiscal year 2013, ending August, Accenture expects net revenue growth of 5-8 per cent and earnings per share of USD 4.22-4.30, an increase of 10-12 per cent, Accenture said in a late night statement.

Pursuant to the announcement, which was made after market hours yesterday, Accenture, gained as much as 4.6 per cent to USD 68.37 in extended trading.

However, the net income of the company in the fourth quarter declined by 7 per cent, due to the higher tax rate and stood to USD 636 million against USD 683 million for the same period of fiscal 2011.

Accenture, said its net revenues for the fourth quarter stood at USD 6.84 billion compared with USD 6.69 billion a year ago, a rise of 2 per cent.

The consulting net revenues for the company witnessed a decline of 4 per cent to USD 3.74 billion during the fourth quarter, while outsourcing net revenues increased 10 per cent to USD 3.1 billion.

"We are very pleased with our financial results for fiscal 2012... Our revenue growth was strong and broad-based across the different dimensions of our business, and we increased EPS by 13 per cent," Accenture's Chief Executive Officer Pierre Nanterme said.

Accenture reported new bookings of USD 9.2 billion for fourth quarter and USD 32.2 billion for full year.

"Our balance sheet remains very strong, with a cash balance of USD 6.6 billion. We also achieved record new bookings of USD 9.2 billion for the fourth quarter, bringing us to USD 32.2 billion for the year, our highest ever," Nanterme added.

Revenue from Europe, Middle East and Africa (EMEA) declined 4 per cent to USD 2.6 billion, while revenues from the Asia Pacific region increased 11 per cent to USD 957 million. Revenues from America also increased by 5 per cent to USD 3.2 billion.

For the full year, net revenues for the full 2012 fiscal year were USD 27.9 billion, compared with USD 25.5 billion for fiscal 2011, an increase of 9 per cent.

Net income for the full fiscal year was USD 2.82 billion, compared with USD 2.55 billion for fiscal 2011, an increase of 11 per cent.

"With our diverse portfolio of business, our industry and technology expertise, and the focused execution of our growth strategy, we are very well-positioned to continue gaining market share and delivering value to our clients and shareholders," Nanterme said.