Net Revenues Expected to Slightly Exceed Analysts' Consensus Estimate
NEW YORK; Dec. 20, 2002 – Accenture expects its earnings per share for the first quarter of fiscal 2003, ended Nov. 30, 2002, to be $0.27, exceeding the analysts' current consensus estimate of $0.24.
The company expects revenues before reimbursements ("net revenues") to be in the range of $2.90 billion to $2.95 billion, slightly exceeding the analysts' current consensus estimate of $2.87 billion.
While Accenture's performance in the first quarter of fiscal year 2003 was solid, the company continues to be cautious about the business outlook because the economic and geopolitical climate remains unstable.
Accenture anticipates earnings per share for the second quarter, ending Feb. 28, 2003, to be in the range of $0.21 to $0.25 and net revenues for the second quarter to decline 1 to 6 percent from net revenues in the same quarter of fiscal 2002.
For the full fiscal year 2003, Accenture continues to target earnings per share of $1.05 and net revenue growth of 0 to 2 percent over fiscal 2002 net revenues.
These preliminary results are subject to quarterly review procedures and final reconciliations and adjustments. The company expects to issue its full first-quarter earnings release on Jan. 9, 2003.
Accenture is the world's leading management consulting and technology services company. Committed to delivering innovation, Accenture collaborates with its clients to help them realize their visions and create tangible value. With deep industry expertise, broad global resources and proven experience in consulting and outsourcing, Accenture can mobilize the right people, skills, alliances and technologies. With more than 75,000 people in 47 countries, the company generated net revenues of $11.6 billion for the fiscal year ended August 31, 2002. Its home page is www.accenture.com.
This press release contains forward-looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed under the "Risk Factors" heading in the Business section of our most recent annual report on Form 10-K filed with the Securities and Exchange Commission.