Press Release of Quarterly Results by listed companies

PRESS RELEASE :  Press Release of Results donot have any prescribed regulations to be followed. It can be free style. It typically includes figures as well as some journalistic description and is drafted keeping in view, the overall messaging strategy highlighting the things which the company wants the market to take note.

Typical earnings announcement Press Release by IT services company

 Snapshot of Accenture Performance - Q4 & FY07

Financial Highlights Q4 & FY07*:

  • Accenture reported a strong quarter and fiscal year. All operating groups and geographies recording their highest ever revenue with double digit growth (in USD terms), both on a quarterly and annual basis.
  • Annual revenue on the lower side of guided range as performance of outsourcing was weaker compared to consulting. For Q4 FY07, consulting grew at 22% Y/Y to $3.1 billion while outsourcing revenue was up 16.9% Y/Y; total new bookings were at a record $4.9 billion.
  • Achieved double digit EPS growth of 22% for FY 07; annual EPS at $ 1.97 which exceeded the guided range of $ 1.94 to $ 1.96.
 * Figures for FY 2006 reflects adjustments relating to the financial impact of resolution of contracts with the National Health Service (NHS) in England and related adjustments & tax benefits

Operating Highlights Q4 & FY07:

  • Utilization in Q4 FY07 at 84% and for FY07 at 85%.
  • DSO reduced to 31 days in fiscal '07 from 37 days in fiscal '06.
  • Q4 revenue growth driven by consulting in EMEA and outsourcing in America; going forward management sees continued strength in consulting; Accenture plans to double its management consultants as demand surges in Europe and Asia.
  • Despite an overall weaker performance from outsourcing it was strong in EMEA geographies; management concentrating on smaller contracts of shorter duration but average rate per contract is steady and renewal rate higher.
  • Financial services business was driven by EMEA led by banking; in America capital markets and insurance delivered solid growth.
  • Management informed that there was no impact from sub-prime on business as of date.
  • Management sees a healthy US & global economy and continued investment in businesses by competition and clients; expected business from discretionary spending of clients at a single digit figure.
  • 60,000 new hires in FY07, total employees at 170,000, a 21% growth over FY06; Accenture employs 71,000 people outside the U.S., including 35,000 in India and 11,000 in the Philippines. Hiring is accelerating in countries such as Brazil. Attrition stable at 18% for full year and quarter.
  • Spending more than $250 million to expand technology and advisory services over the next 3 years.