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eport: Institute of Certified Consultants UN (ICCUN)

Accenture has reported strong results for the second quarter of 2007, revealing a quadrupling of net income and a 16% growth in net revenues.

On an adjusted basis, net earnings increased 39% year-over-year and 27% year-over-year on per share basis. Operating income also quadrupled and rose 20% on an adjusted basis.

 Accenture reported new bookings, an indicator of future revenue, of $5.33bn, including a record $3.08bn of consulting bookings. Revenue from financial services clients, one of the company’s largest segments, jumped 26% to $1.05bn. Communications
 and high-technology-related revenue rose 6% to $1.09bn.

 Accenture raised its full year forecast and now expects net revenues growth to be at the high end of its previously communicated range of 9%-12% in local currency. The 2007 earnings guidance was increased by eight cents per share.

 Accenture chairman and CEO William Green said that the companyhad delivered another strong quarter, demonstrating the strong fundamentals of its business, its continued momentum and the ongoing success in serving its clients and executing its strategy.

 He said: "We achieved revenue growth across every dimension of our business and double-digit earnings growth. Our solid bookings, which include record consulting bookings, reflect the continued demand for our services."

 Accenture reported net income of $296.72m on net revenues of $4.75bn in the quarter under review compared to $69.68m on $4.10bn ayear ago.

 Revenues including reimbursements were $5.17bn compared to $4.49bn in the year-ago quarter. Both consulting and outsourcing revenues grew by double digits in US dollars. Consulting net revenues were $2.83bn, while outsourcing net revenues were a record $1.92bn.

 Products, communications and high tech, and financial services operations were the major generator of revenues for Accenture. Revenues from products services were $1.16bn compared with $1.00bn for the year-ago period.

Operations in the government sector were loss-making though this segment generated revenues of $655m compared with $598m for the year-ago period. Resources segment saw revenues grow to $787m from $639m last year.

 Geographically, Americas continue to generate higher revenues of $2.04bn, compared with $1.90bn for the second quarter of 2006. Europe, Middle East and Africa combined together to generate revenues of $2.33bn, compared with $1.91bn for the second quarter of 2006.

 Asia Pacific generated $373m in revenues, compared with $291m for the year-ago period.