Accenture achieved diluted earnings per share (EPS) of $1.05 for its 2003 fiscal year, an 87.5% increase from the $0.56 of fiscal 2002. The previous year`s diluted EPS included a loss on investments of $0.28 a share and a real estate consolidation charge of $0.07 a share.
Net revenues of $11.82 billion were 2% up on the previous year`s $11.57 billion. Operating income of $1.55 billion compares with a previous $1.39 billion, although the year-earlier figure included the real estate consolidation charge of $111 million.
The company`s total gross margin was 36.5% of net revenues, compared with 40.4% previously.
It says the change resulted from continuing pricing pressures and the shift in its mix of business towards outsourcing, which has lower gross margins, particularly in the first year of new contracts.
Net revenues for the fourth quarter were $3.02 billion, up 12% from the year-earlier period, while diluted EPS of $0.25 for the quarter compared with a year-earlier $0.08.
Chairman and CEO Joe Forehand says the group is well positioned, with the right strategy, people and a strong balance sheet, to continue to distinguish itself in the marketplace.
For the first quarter of fiscal 2004 the group expects net revenues to be in line with analysts` consensus estimate of $3.09 billion and EPS in the range of $0.27 to $0.28.
Related story:
Accenture estimates 2% revenue growth
Share
