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Accenture Reports Second-Quarter Fiscal 2013 Results



  Accenture Reports Second-Quarter Fiscal 2013 Results

     -- Revenues increase 4% in both U.S. dollars and local currency, to
                               $7.1 billion --

-- Record EPS of $1.65 include $0.65 in benefits from final determinations of
  prior-year tax liabilities and a reduction in reorganization liabilities.
                  Excluding these benefits, EPS are $1.00 --

     -- New bookings are $9.1 billion, with record consulting bookings of
           $4.4 billion and outsourcing bookings of $4.7 billion --

-- Operating income is $1.16 billion, including a benefit of $224 million from
 a reduction in reorganization liabilities. Excluding the benefit, operating
income is $940 million and operating margin is 13.3%, an expansion of 20 basis
                                  points --

     -- Company declares semi-annual cash dividend of $0.81 per share --

Business Wire

NEW YORK -- March 28, 2013

Accenture (NYSE: ACN) reported financial results for the second quarter of
fiscal 2013, ended Feb. 28, 2013, with net revenues of $7.1 billion, an
increase of 4 percent in both U.S. dollars and local currency over the same
period last year and within the company’s guided range.

Diluted earnings per share were $1.65, including benefits of $243 million, or
$0.34 per share, from final determinations of prior-year tax liabilities and
$224 million, or $0.31 per share, from a reduction in reorganization
liabilities. Excluding these benefits, diluted earnings per share were $1.00.
Reorganization liabilities were established in connection with the company’s
transition to a corporate structure in 2001.

Operating income for the quarter increased to $1.16 billion, including the
benefit of $224 million from the reduction in reorganization liabilities.
Excluding the benefit, operating income increased 6 percent, to $940 million,
and operating margin expanded 20 basis points, to 13.3 percent.

New bookings for the quarter were $9.1 billion, with record consulting
bookings of $4.4 billion and outsourcing bookings of $4.7 billion.

Pierre Nanterme, Accenture’s chairman and CEO, said, “We are pleased with our
second-quarter financial results, which were in line with our expectations. We
saw very strong demand for our services, with $9.1 billion in new bookings,
including record consulting bookings. Our revenue growth was within our guided
range for the quarter, including a 10 percent local-currency increase in
outsourcing. We also increased operating income and again expanded operating
margin, reflecting our continued focus on driving profitable growth.

“Our strategy continues to differentiate Accenture in the marketplace, and our
excellent bookings in the second quarter further demonstrate that our services
are resonating with the needs of our clients. We remain confident in our
ability to seize the opportunities in this fast-changing environment and to
continue to deliver tangible business outcomes for our clients and value for
our shareholders.”

Financial Review

Revenues before reimbursements (“net revenues”) for the second quarter of
fiscal 2013 were $7.1 billion, compared with $6.8 billion for the second
quarter of fiscal 2012, an increase of 4 percent in both U.S. dollars and
local currency. Net revenues for the quarter were within the company’s guided
range of $6.9 billion to $7.15 billion, which assumed a foreign-exchange
impact of negative 1 percent. Adjusting for the actual foreign-exchange impact
of approximately 0 percent in the quarter, the company’s guided range for
quarterly net revenues would have been $6.96 billion to $7.21 billion.

  * Consulting net revenues for the quarter were $3.8 billion, a decrease of
    approximately 1 percent in both U.S. dollars and local currency from the
    second quarter of fiscal 2012.
  * Outsourcing net revenues were $3.3 billion, an increase of 9 percent in
    U.S. dollars and 10 percent in local currency over the second quarter of
    fiscal 2012.

Diluted EPS for the quarter were $1.65, compared with $0.97 for the second
quarter last year, an increase of $0.68. The reorganization benefit and final
determinations of prior-year tax liabilities had a positive $0.65 impact on
EPS in the second quarter of fiscal 2013. Excluding these benefits, EPS for
the quarter were $1.00, an increase of $0.03 from the second quarter last
year.

The $0.68 increase in GAAP EPS reflects:

  * $0.06 from higher revenue and operating results;
  * $0.01 from higher non-operating income;
  * $0.02 from a lower share count;
  * $0.34 from final determinations of prior-year tax liabilities; and
  * $0.31 from a reduction in reorganization liabilities;

    partially offset by:
  * $0.06 from a higher effective tax rate excluding the impact of final
    determinations of prior-year tax liabilities and the reduction in
    reorganization liabilities.

Gross margin (gross profit as a percentage of net revenues) for the quarter
was 31.6 percent, compared with 31.1 percent for the second quarter last year.
Selling, general and administrative (SG&A) expenses for the second quarter
were $1.3 billion, or approximately 18.3 percent of net revenues, compared
with $1.2 billion, or approximately 18.0 percent of net revenues, for the
second quarter last year.

Operating income for the second quarter was $1.16 billion, or 16.5 percent of
net revenues, compared with $889 million, or 13.1 percent of net revenues, for
the second quarter of fiscal 2012. Excluding the $224 million reorganization
benefit, operating income for the second quarter of fiscal 2013 was
$940 million, or 13.3 percent of net revenues, a 20-basis-point expansion from
the second quarter of fiscal 2012.

The company’s effective tax rate for the quarter was negative 0.5 percent,
including the benefit from final determinations of prior-year U.S. federal tax
liabilities. The effective tax rate was also impacted by the reorganization
benefit, which increased income before income taxes without any increase in
income tax expense. Excluding these benefits, the effective tax rate for the
second quarter of fiscal 2013 was 24.8 percent, compared with 20.5 percent for
the second quarter last year.

Net income for the quarter was $1.19 billion, compared with $714 million for
the second quarter last year, and includes the favorable impact of both the
$224 million reorganization benefit and $243 million from final determinations
of prior-year tax liabilities.

Operating cash flow for the quarter was $634 million, and property and
equipment additions were $90 million. Free cash flow, defined as operating
cash flow net of property and equipment additions, was $544 million. For the
same period last year, operating cash flow was $858 million; property and
equipment additions were $85 million; and free cash flow was $772 million.

Days services outstanding, or DSOs, were 31 days, compared with 27 days at
Aug. 31, 2012 and 29 days at Feb. 29, 2012.

Accenture’s total cash balance at Feb. 28, 2013 was $5.6 billion, compared
with $6.6 billion at Aug. 31, 2012.

Utilization for the quarter was 88 percent, compared with 88 percent for the
first quarter of fiscal 2013 and 87 percent for the second quarter of fiscal
2012. Attrition for the second quarter of fiscal 2013 was 11 percent, compared
with 11 percent for the first quarter of fiscal 2013 and 12 percent for the
second quarter of fiscal 2012.

New Bookings

New bookings for the second quarter were $9.1 billion and reflect zero
foreign-exchange impact compared with new bookings in the second quarter last
year.

  * Consulting new bookings were $4.4 billion, or 48 percent of total new
    bookings.
  * Outsourcing new bookings were $4.7 billion, or 52 percent of total new
    bookings.

Net Revenues by Operating Group

Net revenues by operating group were as follows:

  * Communications, Media & Technology: $1.41 billion, compared with
    $1.48 billion for the second quarter of fiscal 2012, a decrease of
    5 percent in U.S. dollars and 4 percent in local currency.
  * Financial Services: $1.51 billion, compared with $1.38 billion for the
    second quarter of fiscal 2012, an increase of 10 percent in both U.S.
    dollars and local currency.
  * Health & Public Service: $1.19 billion, compared with $1.06 billion for
    the second quarter of fiscal 2012, an increase of 13 percent in both U.S.
    dollars and local currency.
  * Products: $1.68 billion, compared with $1.58 billion for the second
    quarter of fiscal 2012, an increase of 6 percent in both U.S. dollars and
    local currency.
  * Resources: $1.25 billion, compared with $1.29 billion for the second
    quarter of fiscal 2012, a decrease of 3 percent in both U.S. dollars and
    local currency.

Net Revenues by Geographic Region

Net revenues by geographic region were as follows:

  * Americas: $3.28 billion, compared with $3.03 billion for the second
    quarter of fiscal 2012, an increase of 8 percent in U.S. dollars and
    9 percent in local currency.
  * Europe, Middle East and Africa (EMEA): $2.80 billion, compared with
    $2.80 billion for the second quarter of fiscal 2012, flat in U.S. dollars
    and a decrease of 1 percent in local currency.
  * Asia Pacific: $978 million, compared with $971 million for the second
    quarter of fiscal 2012, an increase of 1 percent in U.S. dollars and 2
    percent in local currency.

Returning Cash to Shareholders

Accenture continues to return cash to shareholders through cash dividends and
share repurchases.

Dividend

Accenture plc has declared a semi-annual cash dividend of $0.81 per share on
Accenture plc Class A ordinary shares for shareholders of record at the close
of business on April 12, 2013, and Accenture SCA will declare a semi-annual
cash dividend of $0.81 per share on Accenture SCA Class I common shares for
shareholders of record at the close of business on April 9, 2013. These
dividends are both payable on May 15, 2013.

Combined with the semi-annual cash dividend of $0.81 per share paid on Nov.
15, 2012, this will bring the total dividend payments for the fiscal year to
$1.62 per share, for total projected cash dividend payments of approximately
$1.1 billion.

Share Repurchase Activity

During the second quarter of fiscal 2013, Accenture repurchased or redeemed
8.8 million shares, including 5.5 million shares repurchased in the open
market, for a total of $609 million. This brings Accenture’s total share
repurchases and redemptions for the first half of fiscal 2013 to 12.1 million
shares, including 6.1 million shares repurchased in the open market, for a
total of $830 million.

Accenture’s total remaining share repurchase authority at Feb. 28, 2013 was
approximately $3.6 billion.

At Feb. 28, 2013, Accenture had approximately 693 million total shares
outstanding, including 650 million Accenture plc Class A ordinary shares and
43 million Accenture SCA Class I common shares and Accenture Canada Holdings
Inc. exchangeable shares.

Business Outlook

Third Quarter Fiscal 2013

Accenture expects net revenues for the third quarter of fiscal 2013 to be in
the range of $7.25 billion to $7.50 billion. This range assumes a
foreign-exchange impact of negative 2.5 percent compared with the third
quarter of fiscal 2012.

Full Fiscal Year 2013

For fiscal 2013, the company now expects net revenue growth to be in the lower
half of its previously guided range of 5 percent to 8 percent in local
currency.

Accenture’s business outlook for the full 2013 fiscal year continues to assume
a foreign-exchange impact of negative 1 percent compared with fiscal 2012.

The company now expects diluted EPS for fiscal 2013 to be in the range of
$4.89 to $4.97, reflecting the $0.65 in benefits related to final
determinations of prior-year tax liabilities and the reduction in
reorganization liabilities in the second quarter. Excluding these benefits,
the company continues to expect EPS in the range of $4.24 to $4.32.

Accenture now expects operating margin for the full fiscal year to be in the
range of 14.9 percent to 15.0 percent, including the estimated full-year
positive impact of 80 basis points from the reduction in reorganization
liabilities in the second quarter. Excluding this impact, Accenture continues
to expect operating margin for the full fiscal year to be in the range of 14.1
percent to 14.2 percent, an expansion of 20 to 30 basis points.

The company continues to expect operating cash flow to be in the range of
$3.2 billion to $3.5 billion; now expects property and equipment additions to
be approximately $400 million; and continues to expect free cash flow to be in
the range of $2.8 billion to $3.1 billion.

The company continues to expect to return at least $3.3 billion to its
shareholders in fiscal 2013 through dividends and share repurchases.

The company now expects its annual effective tax rate to be in the range of
19 percent to 20 percent, including the estimated full-year reduction of
approximately 7 percentage points from benefits related to the final
determinations of prior-year tax liabilities and the reduction in
reorganization liabilities in the second quarter. Excluding these benefits,
Accenture continues to expect its annual effective tax rate to be in the range
of 26 percent to 27 percent.

Accenture continues to target new bookings for fiscal 2013 in the range of
$31 billion to $34 billion.

Conference Call and Webcast Details

Accenture will host a conference call at 8:00 a.m. EDT today to discuss its
second-quarter fiscal 2013 financial results. To participate, please dial +1
(800) 230-1085 [+1 (612) 234-9960 outside the United States, Puerto Rico and
Canada] approximately 15 minutes before the scheduled start of the call. The
conference call will also be accessible live on the Investor Relations section
of the Accenture Web site at www.accenture.com.

A replay of the conference call will be available online at www.accenture.com
beginning at 10:30 a.m. EDT today, Thursday, March 28, and continuing until
Thursday, June 27, 2013. A podcast of the conference call will be available
online at www.accenture.com beginning approximately 24 hours after the call
and continuing until Thursday, June 27. The replay will also be available via
telephone by dialing +1 (800) 475-6701 [+1 (320) 365-3844 outside the United
States, Puerto Rico and Canada] and entering access code 282767 from 10:30
a.m. EDT today, Thursday, March 28, through Thursday, June 27.

About Accenture

Accenture is a global management consulting, technology services and
outsourcing company, with approximately 261,000 people serving clients in more
than 120 countries. Combining unparalleled experience, comprehensive
capabilities across all industries and business functions, and extensive
research on the world’s most successful companies, Accenture collaborates with
clients to help them become high-performance businesses and governments. The
company generated net revenues of US$27.9 billion for the fiscal year ended
Aug. 31, 2012. Its home page is www.accenture.com.

Non-GAAP Financial Information

This news release includes certain non-GAAP financial information as defined
by Securities and Exchange Commission Regulation G. Pursuant to the
requirements of this regulation, reconciliations of this non-GAAP financial
information to Accenture’s financial statements as prepared under generally
accepted accounting principles (GAAP) are included in this press release.
Financial results “in local currency” are calculated by restating
current-period activity into U.S. dollars using the comparable prior-year
period’s foreign-currency exchange rates. Accenture’s management believes
providing investors with this information gives additional insights into
Accenture’s results of operations. While Accenture’s management believes that
the non-GAAP financial measures herein are useful in evaluating Accenture’s
operations, this information should be considered as supplemental in nature
and not as a substitute for the related financial information prepared in
accordance with GAAP.

Forward-Looking Statements

Except for the historical information and discussions contained herein,
statements in this news release may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,”
“intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,”
“outlook” and similar expressions are used to identify these forward-looking
statements. These statements involve a number of risks, uncertainties and
other factors that could cause actual results to differ materially from those
expressed or implied. These include, without limitation, risks that: the
company’s results of operations could be adversely affected by volatile,
negative or uncertain economic conditions and the effects of these conditions
on the company’s clients’ businesses and levels of business activity; the
company’s business depends on generating and maintaining ongoing, profitable
client demand for the company’s services and solutions, and a significant
reduction in such demand could materially affect the company’s results of
operations; if the company is unable to keep its supply of skills and
resources in balance with client demand around the world and attract and
retain professionals with strong leadership skills, the company’s business,
the utilization rate of the company’s professionals and the company’s results
of operations may be materially adversely affected; the markets in which the
company competes are highly competitive, and the company might not be able to
compete effectively; the company could have liability or the company’s
reputation could be damaged if the company fails to protect client and/or
company data or information systems as obligated by law or contract or if the
company’s information systems are breached; as a result of the company’s
geographically diverse operations and its growth strategy to continue
geographic expansion, the company is more susceptible to certain risks; the
company’s Global Delivery Network is increasingly concentrated in India and
the Philippines, which may expose it to operational risks; the company’s
results of operations could materially suffer if the company is not able to
obtain sufficient pricing to enable it to meet its profitability expectations;
if the company’s pricing estimates do not accurately anticipate the cost, risk
and complexity of the company performing its work or third parties upon whom
it relies do not meet their commitments, then the company’s contracts could
have delivery inefficiencies and be unprofitable; the company’s work with
government clients exposes the company to additional risks inherent in the
government contracting environment; the company’s business could be materially
adversely affected if the company incurs legal liability in connection with
providing its services and solutions; the company’s results of operations
could be materially adversely affected by fluctuations in foreign currency
exchange rates; the company’s results of operations and ability to grow could
be materially negatively affected if the company cannot adapt and expand its
services and solutions in response to ongoing changes in technology and
offerings by new entrants; the company’s alliance relationships may not be
successful or may change, which could adversely affect the company’s results
of operations; outsourcing services and the continued expansion of the
company’s other services and solutions into new areas subject the company to
different operational risks than its consulting and systems integration
services; the company’s services or solutions could infringe upon the
intellectual property rights of others or the company might lose its ability
to utilize the intellectual property of others; the company has only a limited
ability to protect its intellectual property rights, which are important to
the company’s success; the company’s ability to attract and retain business
and employees may depend on its reputation in the marketplace; the company
might not be successful at identifying, acquiring or integrating businesses or
entering into joint ventures; the company’s profitability could suffer if its
cost-management strategies are unsuccessful, and the company may not be able
to improve its profitability through improvements to cost-management to the
degree it has done in the past; many of the company’s contracts include
payments that link some of its fees to the attainment of performance or
business targets and/or require the company to meet specific service levels,
which could increase the variability of the company’s revenues and impact its
margins; changes in the company’s level of taxes, and audits, investigations
and tax proceedings, or changes in the company’s treatment as an Irish
company, could have a material adverse effect on the company’s results of
operations and financial condition; if the company is unable to manage the
organizational challenges associated with its size, the company might be
unable to achieve its business objectives; if the company is unable to collect
its receivables or unbilled services, the company’s results of operations,
financial condition and cash flows could be adversely affected; the company’s
share price and results of operations could fluctuate and be difficult to
predict; the company’s results of operations and share price could be
adversely affected if it is unable to maintain effective internal controls;
the company may be subject to criticism and negative publicity related to its
incorporation in Ireland; as well as the risks, uncertainties and other
factors discussed under the “Risk Factors” heading in Accenture plc’s most
recent annual report on Form 10-K and other documents filed with or furnished
to the Securities and Exchange Commission. Statements in this news release
speak only as of the date they were made, and Accenture undertakes no duty to
update any forward-looking statements made in this news release or to conform
such statements to actual results or changes in Accenture’s expectations.

                                                                                                  
                                                                                                                           
ACCENTURE PLC
CONSOLIDATED INCOME STATEMENTS
(In thousands of U.S. dollars, except share and per share amounts)
(Unaudited)
                                                                                                                           
                 Three Months Ended                                    Six Months Ended
                 February 28,    % of Net   February 29,    % of Net   February 28,     % of Net   February 29,     % of Net
                 2013            Revenues   2012            Revenues   2013             Revenues   2012             Revenues
REVENUES:
Revenues
before
reimbursements   $ 7,058,042     100   %    $ 6,797,250     100   %    $ 14,278,003     100   %    $ 13,871,747     100   %
(“Net
revenues”)
Reimbursements   435,278                    462,578                    883,353                     977,189       
Revenues         7,493,320                  7,259,828                  15,161,356                  14,848,936
OPERATING
EXPENSES:
Cost of
services:
Cost of
services
before           4,827,679       68.4  %    4,680,884       68.9  %    9,681,447        67.8  %    9,503,841        68.5  %
reimbursable
expenses
Reimbursable     435,278                    462,578                    883,353                     977,189       
expenses
Cost of          5,262,957                  5,143,462                  10,564,800                  10,481,030
services
Sales and        834,047         11.8  %    772,338         11.4  %    1,702,249        11.9  %    1,609,815        11.6  %
marketing
General and
administrative   455,551         6.5   %    454,314         6.7   %    904,403          6.3   %    886,831          6.4   %
costs
Reorganization
(benefits)       (223,767    )   (3.2  )%   415             0.0   %    (223,302     )   (1.6  )%   823              0.0   %
costs, net
Total
operating        6,328,788                  6,370,529                  12,948,150                  12,978,499    
expenses
OPERATING        1,164,532       16.5  %    889,299         13.1  %    2,213,206        15.5  %    1,870,437        13.5  %
INCOME
Interest         9,859                      9,246                      18,626                      19,758
income
Interest         (3,641      )              (4,220      )              (8,190       )              (8,378       )
expense
Other income,    10,599                     4,215                      4,163                       9,750         
net
INCOME BEFORE    1,181,349       16.7  %    898,540         13.2  %    2,227,805        15.6  %    1,891,567        13.6  %
INCOME TAXES
(Benefit from)
provision for    (5,749      )              184,350                    274,676                     465,620       
income taxes
NET INCOME       1,187,098       16.8  %    714,190         10.5  %    1,953,129        13.7  %    1,425,947        10.3  %
Net income
attributable
to
noncontrolling
interests in     (78,363     )              (60,588     )              (137,318     )              (122,544     )
Accenture SCA
and Accenture
Canada
Holdings Inc.
Net income
attributable
to               (6,933      )              (9,679      )              (15,192      )              (17,394      )
noncontrolling
interests –
other (1)
NET INCOME
ATTRIBUTABLE     $ 1,101,802     15.6  %    $ 643,923       9.5   %    $ 1,800,619      12.6  %    $ 1,286,009      9.3   %
TO
ACCENTURE PLC
CALCULATION OF
EARNINGS PER
SHARE:
Net income
attributable     $ 1,101,802                $ 643,923                  $ 1,800,619                 $ 1,286,009
to Accenture
plc
Net income
attributable
to
noncontrolling
interests in     78,363                     60,588                     137,318                     122,544       
Accenture SCA
and Accenture
Canada
Holdings Inc.
(2)
Net income for
diluted
earnings per     $ 1,180,165                $ 704,511                  $ 1,937,937                 $ 1,408,553   
share
calculation
EARNINGS PER
SHARE:
-Basic           $ 1.70                     $ 1.00                     $ 2.79                      $ 1.99
-Diluted (3)     $ 1.65                     $ 0.97                     $ 2.71                      $ 1.93
WEIGHTED
AVERAGE
SHARES:
-Basic           649,520,337                646,452,990                644,608,780                 645,390,718
-Diluted (3)     714,807,680                729,810,080                714,977,392                 730,310,743
Cash dividends   $ —                        $ —                        $ 0.81                      $ 0.675
per share

_______________
(1) Comprised primarily of noncontrolling interest attributable to the
    noncontrolling shareholders of Avanade, Inc.
    Diluted earnings per share assumes the redemption of all Accenture SCA
(2) Class I common shares owned by holders of noncontrolling interests and the
    exchange of all Accenture Canada Holdings Inc. exchangeable shares for
    Accenture plc Class A ordinary shares on a one-for-one basis.
    Diluted weighted average Accenture plc Class A ordinary shares and
(3) earnings per share amounts in fiscal 2012 have been restated to reflect
    additional restricted share units issued to holders of restricted share
    units in connection with the fiscal 2013 payment of cash dividends.

                                                                   
                                                                     
ACCENTURE PLC
SUMMARY OF REVENUES
(In thousands of U.S. dollars)
(Unaudited)
                                                                     
                                                     Percent        Percent
                       Three Months Ended            Increase       Increase
                       February 28,   February 29,   (Decrease)     (Decrease)
                                                     U.S. dollars   Local
                       2013           2012                          Currency
OPERATING GROUPS
Communications,        $ 1,411,489    $ 1,481,378    (5)%           (4)%
Media & Technology
Financial Services       1,508,865      1,376,619    10             10
Health & Public          1,192,698      1,055,879    13             13
Service
Products                 1,680,719      1,584,596    6              6
Resources                1,251,874      1,293,201    (3)            (3)
Other                    12,397         5,577        n/m            n/m
TOTAL Net Revenues       7,058,042      6,797,250    4%             4%
Reimbursements           435,278        462,578      (6)
TOTAL REVENUES         $ 7,493,320    $ 7,259,828    3%
GEOGRAPHY
Americas               $ 3,279,776    $ 3,028,141    8%             9%
EMEA                     2,800,359      2,798,135    —              (1)
Asia Pacific             977,907        970,974      1              2
TOTAL Net Revenues     $ 7,058,042    $ 6,797,250    4%             4%
TYPE OF WORK
Consulting             $ 3,752,965    $ 3,775,186    (1)%           (1)%
Outsourcing              3,305,077      3,022,064    9              10
TOTAL Net Revenues     $ 7,058,042    $ 6,797,250    4%             4%
                                                                     
                                                     Percent        Percent
                       Six Months Ended              Increase       Increase
                       February 28,   February 29,   (Decrease)     (Decrease)
                                                     U.S. dollars   Local
                       2013           2012                          Currency
OPERATING GROUPS
Communications,        $ 2,870,275    $ 3,016,564    (5)%           (3)%
Media & Technology
Financial Services       3,071,807      2,860,458    7              10
Health & Public          2,367,408      2,110,181    12             13
Service
Products                 3,379,262      3,254,149    4              6
Resources                2,573,339      2,620,076    (2)            —
Other                    15,912         10,319       n/m            n/m
TOTAL Net Revenues       14,278,003     13,871,747   3%             5%
Reimbursements           883,353        977,189      10
TOTAL REVENUES         $ 15,161,356   $ 14,848,936   2%
 
Americas               $ 6,612,896    $ 6,102,858    8%             9%
EMEA                     5,625,255      5,806,663    (3)            —
Asia Pacific             2,039,852      1,962,226    4              5
TOTAL Net Revenues     $ 14,278,003   $ 13,871,747   3%             5%
TYPE OF WORK
Consulting             $ 7,713,641    $ 7,858,610    (2)%           —%
Outsourcing              6,564,362      6,013,137    9              11
TOTAL Net Revenues     $ 14,278,003   $ 13,871,747   3%             5%
_________
n/m = not meaningful

 
 
ACCENTURE PLC
For the Three Months Ended February 28, 2013 and February 29, 2012
(In thousands of U.S. dollars)
(Unaudited)
 
OPERATING INCOME BY OPERATING GROUP

                       
                        Operating Income as Reported (GAAP)
                        Three Months Ended
                        February 28, 2013               February 29, 2012
                        Operating         Operating     Operating       Operating
                        Income            Margin        Income          Margin
Communications,
Media &                 $ 225,744         16%           $ 203,406       14%
Technology
Financial               244,158           16            142,714         10
Services
Health & Public         188,218           16            99,593          9
Service
Products                264,234           16            184,257         12
Resources               242,178           19            259,329         20
Total                   $ 1,164,532       16.5%         $ 889,299       13.1%

                                                                                                      
                  Three Months Ended
                  February 28, 2013                                          February 29, 2012
                                  Operating Income and                       Operating Income and
                                  Operating Margin                           Operating Margin as
                                  Excluding Reorganization                   Reported (GAAP)
                  Operating       Reorganization   Operating     Operating   Operating     Operating   Increase
                  Income          Benefits (1)     Income        Margin      Income        Margin      (Decrease)
                  (GAAP)
Communications,
Media &           $ 225,744       $  43,304        $ 182,440     13     %    $ 203,406     14     %    $ (20,966 )
Technology
Financial           244,158          48,170          195,988     13            142,714     10            53,274
Services
Health & Public     188,218          39,446          148,772     12            99,593      9             49,179
Service
Products            264,234          52,924          211,310     13            184,257     12            27,053
Resources           242,178          40,411          201,767     16            259,329     20            (57,562 )
Total             $ 1,164,532     $  224,255       $ 940,277     13.3   %    $ 889,299     13.1   %    $ 50,978   

                      
RECONCILIATION OF NET INCOME AND DILUTED EARNINGS PER SHARE, AS REPORTED
(GAAP), TO NET
INCOME AND DILUTED EARNINGS PER SHARE, AS ADJUSTED (NON-GAAP)
                        
                       Three Months Ended
                       February 28, 2013             February 29, 2012
                                       Diluted                     Diluted
                       Net Income      Earnings      Net Income    Earnings
                                       Per Share                   Per Share
As reported (GAAP)     $ 1,187,098     $  1.65       $ 714,190     $  0.97   
Less impact of
reorganization         (224,255    )   (0.31    )    —             —
benefits (1)(2)
Less benefit from
final
determinations of      (242,938    )   (0.34    )    —             —         
U.S. federal tax
liabilities
As adjusted            $ 719,905       $  1.00       $ 714,190     $  0.97   
(Non-GAAP)

________
    Represents reorganization benefits related to final determinations of
(1) certain reorganization liabilities established in connection with our
    transition to a corporate structure during 2001.
(2) Reorganization benefits had the effect of increasing income before income
    taxes without any increase in income tax expense.

 
 
ACCENTURE PLC
For the Six Months Ended February 28, 2013 and February 29, 2012
(In thousands of U.S. dollars)
(Unaudited)
 
OPERATING INCOME BY OPERATING GROUP

                         Operating Income as Reported (GAAP)
                         Six Months Ended
                         February 28, 2013           February 29, 2012
                         Operating       Operating   Operating       Operating
                         Income          Margin      Income          Margin
Communications,
Media &                  $ 408,792       14%         $ 431,933       14%
Technology
Financial                485,256         16          357,569         13
Services
Health & Public          331,677         14          212,427         10
Service
Products                 499,926         15          403,032         12
Resources                487,555         19          465,476         18
Total                    $ 2,213,206     15.5%       $ 1,870,437     13.5%

                                                                                                          
                  Six Months Ended
                  February 28, 2013                                            February 29, 2012
                                  Operating Income and Operating               Operating Income and
                                  Margin                                       Operating Margin as
                                  Excluding Reorganization                     Reported (GAAP)
                                  Benefits
                  Operating       Reorganization   Operating       Operating   Operating       Operating   Increase
                  Income          Benefits (1)     Income          Margin      Income          Margin      (Decrease)
                  (GAAP)
Communications,
Media &           $ 408,792       $  43,304        $ 365,488       13%         $ 431,933       14%         $ (66,445 )
Technology
Financial           485,256          48,170          437,086       14            357,569       13            79,517
Services
Health & Public     331,677          39,446          292,231       12            212,427       10            79,804
Service
Products            499,926          52,924          447,002       13            403,032       12            43,970
Resources           487,555          40,411          447,144       17            465,476       18            (18,332 )
Total             $ 2,213,206     $  224,255       $ 1,988,951     13.9%       $ 1,870,437     13.5%       $ 118,514  

                    
RECONCILIATION OF NET INCOME AND DILUTED EARNINGS PER SHARE, AS REPORTED
(GAAP), TO NET
INCOME AND DILUTED EARNINGS PER SHARE, AS ADJUSTED (NON-GAAP)
                      
                     Six Months Ended
                     February 28, 2013             February 29, 2012
                                     Diluted                       Diluted
                     Net Income      Earnings      Net Income      Earnings
                                     Per Share                     Per Share
As reported          $ 1,953,129     $  2.71       $ 1,425,947     $  1.93   
(GAAP)
Less impact of
reorganization       (224,255    )   (0.31    )    —               —
benefits (1)(2)
Less benefit
from final
determinations       (242,938    )   (0.34    )    —               —         
of U.S. federal
tax liabilities
As adjusted          $ 1,485,936     $  2.06       $ 1,425,947     $  1.93   
(Non-GAAP)

________
    Represents reorganization benefits related to final determinations of
(1) certain reorganization liabilities established in connection with our
    transition to a corporate structure during 2001.
(2) Reorganization benefits had the effect of increasing income before income
    taxes without any increase in income tax expense.
     

                                                              
                                                                
ACCENTURE PLC
CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars)
                                                                
                                           February 28, 2013   August 31, 2012
                                           (Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents                  $  5,636,086        $  6,640,526   
Short-term investments                     404                 2,261
Receivables from clients, net              3,518,104           3,080,877
Unbilled services, net                     1,457,798           1,399,834
Other current assets                       1,404,557           1,464,433      
Total current assets                       12,016,949          12,587,931     
NON-CURRENT ASSETS:
Unbilled services, net                     10,122              12,151
Investments                                45,827              28,180
Property and equipment, net                810,896             779,494
Other non-current assets                   3,474,936           3,257,659      
Total non-current assets                   4,341,781           4,077,484      
TOTAL ASSETS                               $  16,358,730       $  16,665,415  
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt and      $  13               $  11
bank borrowings
Accounts payable                           883,048             903,847
Deferred revenues                          2,318,238           2,275,052
Accrued payroll and related benefits       2,998,006           3,428,838
Other accrued liabilities                  1,166,169           1,501,457      
Total current liabilities                  7,365,474           8,109,205      
NON-CURRENT LIABILITIES:
Long-term debt                             16                  22
Other non-current liabilities              3,053,369           3,931,760      
Total non-current liabilities              3,053,385           3,931,782      
TOTAL ACCENTURE PLC SHAREHOLDERS’ EQUITY   5,452,349           4,145,833
NONCONTROLLING INTERESTS                   487,522             478,595        
TOTAL SHAREHOLDERS’ EQUITY                 5,939,871           4,624,428      
TOTAL LIABILITIES AND SHAREHOLDERS’        $  16,358,730       $  16,665,415  
EQUITY

                                                    
                                                      
ACCENTURE PLC
CONSOLIDATED CASH FLOWS STATEMENTS
(In thousands of U.S. dollars)
(Unaudited)
                                                      
                     Three Months Ended              Six Months Ended
                     February 28,    February 29,    February 28,    February 29,
                     2013            2012            2013            2012
CASH FLOWS FROM
OPERATING
ACTIVITIES:
Net income           $ 1,187,098     $ 714,190       $ 1,953,129     $ 1,425,947
Depreciation,
amortization and     157,266         147,010         297,190         279,635
asset impairments
Reorganization
(benefits) costs,    (223,767    )   415             (223,302    )   823
net
Share-based
compensation         184,434         160,959         298,604         261,517
expense
Change in assets
and                  (670,807    )   (164,761    )   (1,800,212  )   (634,851    )
liabilities/other,
net
Net cash provided
by operating         634,224         857,813         525,409         1,333,071    
activities
CASH FLOWS FROM
INVESTING
ACTIVITIES:
Purchases of
property and         (90,241     )   (85,379     )   (176,788    )   (166,254    )
equipment
Purchases of
businesses and       (88,011     )   (2,821      )   (297,963    )   (162,876    )
investments, net
of cash acquired
Other investing,     1,589           909             2,351           1,928        
net
Net cash used in
investing            (176,663    )   (87,291     )   (472,400    )   (327,202    )
activities
CASH FLOWS FROM
FINANCING
ACTIVITIES:
Proceeds from
issuance of          112,239         88,932          276,845         228,879
ordinary shares
Purchases of         (608,958    )   (464,974    )   (829,789    )   (750,079    )
shares
Cash dividends       —               —               (560,135    )   (474,896    )
paid
Other financing,     31,295          (2,240      )   69,993          30,197       
net
Net cash used in
financing            (465,424    )   (378,282    )   (1,043,086  )   (965,899    )
activities
Effect of exchange
rate changes on      (34,943     )   84,600          (14,363     )   (172,302    )
cash and cash
equivalents
NET (DECREASE)
INCREASE IN CASH     (42,806     )   476,840         (1,004,440  )   (132,332    )
AND CASH
EQUIVALENTS
CASH AND CASH
EQUIVALENTS,         5,678,892       5,091,906       6,640,526       5,701,078    
beginning of
period
CASH AND CASH
EQUIVALENTS, end     $ 5,636,086     $ 5,568,746     $ 5,636,086     $ 5,568,746  
of period

Contact:

Accenture
Roxanne Taylor, +1 (917) 452-5106
roxanne.taylor@accenture.com
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