Accenture posts strong results for the fourth quarter and fiscal 2008

by Editor 9/26/2008 4:46:00 PM
IT consultant jobs,IT careers,consulting
Accenture chalked record revenues for both the fourth quarter and fiscal year 2008 in spite of the current state of the economy.

Accenture’s revenues increased 17 percent (in U.S. dollars), to $6 billion, in the fourth quarter, the company reported earlier today, while its annual revenues rose 19 percent, to $23.39 billion.

Operating income rose 22 percent in the fourth quarter and the operating margin expanded 50 basis points compared with the same period last year.

The company’s consulting business brought in net revenues totalling $3.61 billion, which is 19 percent more than in the fourth quarter of 2007. The outsourcing unit reported $2.39 net revenues, a 15 percent rise compared with Q4 in 2007.

New bookings in the fourth quarter amounted to a record $7.67 billion, 8 percent more than in the same period in 2007. Consulting new bookings totalled $3.63 billion, or 47 percent of all bookings in the fourth quarter, while outsourcing contributed $4.04 billion, or 53 percent of all the bookings.

Consulting net revenues for fiscal 2008 were $23.39 billion, a 19 percent increase compared with 2007, and outsourcing operations brought in $9.27 billion, 18 percent more than in fiscal 2007.

William D. Green, Accenture’s chairman & CEO, said:

“We’re very pleased with our strong fourth-quarter and full-year performance, which demonstrates our ability to deliver outstanding results, even in challenging economic conditions. We had record bookings and maintained our focus on operating discipline. We generated significant cash flow, we have no debt, and our balance sheet is rock-solid. We continue to return cash to shareholders through our fourth annual cash dividend and the repurchase of $2.3 billion of our shares during the year."

“We have continued confidence in our business, given the momentum we have from our fourth-quarter and full-year performance. With the uncertainty in the economic environment, we are even more focused on closely managing our business — through careful planning, operational discipline and superior execution — to ensure that we continue to perform and deliver value to our clients and shareholders.”

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