1 Accenture Reports Third-Quarter Fiscal 2015 Results -- Revenues of $7.8 billion, up 0.4% in U.S. dollars and 10% in local currency EPS of $1.24 include a $0.06 non-cash pension settlement charge. Excluding this charge, EPS are $1.30, a 3% increase income is $1.13 billion, including a $64 million non-cash pension settlement charge. Excluding the charge, operating income is $1.20 billion and operating margin is 15.4%, an expansion of 20 basis points New bookings are $8.5 billion, with consulting bookings of $4.5 billion and outsourcing bookings of $4.0 billion Accenture updates business outlook for fiscal 2015; expects full-year revenue growth of 9-10% in local currency, compared with 8-10% previously; raises outlook for full-year GAAP EPS to range of $4.67 to $4.72 from $4.61 to $4.71 previously -- NEW YORK; June 25, 2015 Accenture (NYSE: ACN) reported financial results for the third quarter of fiscal 2015, ended May 31, 2015, with net revenues of $7.8 billion, an increase of 0.4 percent in U.S. dollars and 10 percent in local currency over the same period last year. Diluted earnings per share were $1.24, including a non-cash pension settlement charge of $64 million, pre-tax, or $0.06 per share. Excluding this charge, diluted earnings per share were $1.30, an increase of $0.04, or 3 percent, over the same period last year. The charge related to lump-sum payments made from the company s U.S. pension plan to former employees who elected to receive such payments. The payments settled the company s pension obligations to those who participated. income for the quarter was $1.13 billion, including the $64 million pension settlement charge. Excluding the charge, operating income increased 2 percent, to $1.20 billion, and operating margin expanded 20 basis points, to 15.4 percent. New bookings for the quarter were $8.5 billion, with consulting bookings of $4.5 billion and outsourcing bookings of $4.0 billion. Pierre Nanterme, Accenture s chairman and CEO, said, We are very pleased with our financial results for the third quarter. We delivered 10 percent revenue growth in local currency, which was broad-based across the business, and we gained significant market share. New bookings of $8.5 billion bring us to $25.5 billion for the first three quarters of the year, demonstrating the continued strong demand for our services. We generated solid free cash flow and returned $1.2 billion in cash to our shareholders, while investing significantly in our business. We are clearly benefiting from our recent investments across the different dimensions of our business in digital services, where we grew more than 30 percent in local currency in the quarter. Looking ahead, we remain focused on further differentiating our capabilities and capturing new
2 growth opportunities. We have excellent momentum in our business, and are well-positioned to continue driving profitable growth and delivering value to our clients and our shareholders. Financial Review Revenues before reimbursements ( net revenues ) for the third quarter of fiscal 2015 were $7.77 billion, compared with $7.74 billion for the third quarter of fiscal 2014, an increase of 0.4 percent in U.S. dollars and 10 percent in local currency. Net revenues for the quarter reflect a foreign-exchange impact of negative 10 percent, compared with the negative 11 percent we had previously assumed. Adjusting for the actual foreign-exchange impact of negative 10 percent in the quarter, the company s guided range for quarterly net revenues was $7.43 billion to $7.68 billion. Accenture s third quarter fiscal 2015 net revenues were approximately $90 million above this adjusted range. Consulting net revenues for the quarter were $4.11 billion, an increase of 1 percent in U.S. dollars and 11 percent in local currency compared with the third quarter of fiscal Outsourcing net revenues were $3.66 billion, flat in U.S. dollars and an increase of 10 percent in local currency compared with the third quarter of fiscal Diluted EPS for the quarter were $1.24, compared with $1.26 for the third quarter last year. The pension settlement charge had a negative $0.06 impact on EPS in the third quarter of fiscal Excluding this charge, EPS for the quarter were $1.30, an increase of $0.04 from the third quarter last year. The $0.04 increase in EPS on an adjusted basis reflects: $0.02 from higher revenue and operating results; and $0.03 from a lower share count; partially offset by $0.01 from a higher effective tax rate excluding the impact of the pension settlement charge. Gross margin (gross profit as a percentage of net revenues) for the quarter was 32.5 percent, compared with 32.8 percent for the third quarter last year. Selling, general and administrative (SG&A) expenses for the quarter were $1.33 billion, or 17.1 percent of net revenues, compared with $1.36 billion, or 17.5 percent of net revenues, for the third quarter last year. income for the quarter was $1.13 billion, or 14.6 percent of net revenues, compared with $1.18 billion, or 15.2 percent of net revenues, for the third quarter of fiscal Excluding the $64 million pension settlement charge, operating income for the third quarter of fiscal 2015 was $1.20 billion, or 15.4 percent of net revenues, a 20-basis-point expansion from the third quarter of fiscal 2014.
3 The company s effective tax rate for the quarter was 24.9 percent, compared with 25.0 percent for the third quarter last year. Excluding the impact of the pension settlement charge, the effective tax rate for the third quarter of fiscal 2015 was 25.7 percent. Net income for the quarter was $850 million, compared with $882 million for the third quarter last year. Excluding the after-tax impact of the pension settlement charge, net income for the third quarter of fiscal 2015 was $889 million. cash flow for the quarter was $1.41 billion, and property and equipment additions were $114 million. Free cash flow, defined as operating cash flow net of property and equipment additions, was $1.30 billion. For the same period last year, operating cash flow was $1.36 billion; property and equipment additions were $85 million; and free cash flow was $1.28 billion. Days services outstanding, or DSOs, were 37 days at May 31, 2015, compared with 36 days at Aug. 31, 2014 and 35 days at May 31, Accenture s total cash balance at May 31, 2015 was $4.0 billion, compared with $4.9 billion at Aug. 31, Utilization for the quarter was 90 percent, compared with 91 percent for the second quarter of fiscal Attrition for the third quarter of fiscal 2015 was 15 percent, compared with 14 percent for the second quarter of fiscal 2015 and 14 percent for the third quarter of fiscal New Bookings New bookings for the third quarter were $8.5 billion and reflect a negative 10 percent foreigncurrency impact compared with new bookings in the third quarter last year. Consulting new bookings were $4.5 billion, or 53 percent of total new bookings. Outsourcing new bookings were $4.0 billion, or 47 percent of total new bookings. Net Revenues by Group Net revenues by operating group were as follows: Communications, Media & Technology: $1.61 billion, compared with $1.52 billion for the third quarter of fiscal 2014, an increase of 6 percent in U.S. dollars and 17 percent in local currency. Financial Services: $1.64 billion, compared with $1.68 billion for the third quarter of fiscal 2014, a decrease of 2 percent in U.S. dollars and an increase of 10 percent in local currency.
4 Health & Public Service: $1.38 billion, compared with $1.31 billion for the third quarter of fiscal 2014, an increase of 5 percent in U.S. dollars and 10 percent in local currency. Products: $1.88 billion, compared with $1.91 billion for the third quarter of fiscal 2014, a decrease of 2 percent in U.S. dollars and an increase of 8 percent in local currency. Resources: $1.25 billion, compared with $1.30 billion for the third quarter of fiscal 2014, a decrease of 4 percent in U.S. dollars and an increase of 6 percent in local currency. Net Revenues by Geographic Region* Net revenues by geographic region* for the third quarter of fiscal 2015 were as follows: North America: $3.64 billion, compared with $3.29 billion for the third quarter of fiscal 2014, an increase of 11 percent in U.S. dollars and 12 percent in local currency. Europe: $2.65 billion, compared with $2.95 billion for the third quarter of fiscal 2014, a decrease of 10 percent in U.S. dollars and an increase of 7 percent in local currency. Growth Markets: $1.47 billion, compared with $1.50 billion for the third quarter of fiscal 2014, a decrease of 2 percent in U.S. dollars and an increase of 13 percent in local currency. *Beginning in fiscal 2015, the company is reporting its geographic regions as follows: North America (the United States and Canada); Europe; and Growth Markets (Asia Pacific, Latin America, Africa, the Middle East, Russia and Turkey). Previously, the company s three geographic regions were the Americas; EMEA (Europe, the Middle East and Africa); and Asia Pacific. Returning Cash to Shareholders Accenture continues to return cash to shareholders through cash dividends and share repurchases. Dividend On May 15, 2015, a semi-annual cash dividend of $1.02 per share was paid on Accenture plc Class A ordinary shares to shareholders of record at the close of business on April 10, 2015, and on Accenture SCA Class I common shares to shareholders of record at the close of business on April 7, Combined with the semi-annual cash dividend of $1.02 per share paid on Nov. 17, 2014, this brings the total dividend payments for the fiscal year to $2.04 per share, for total cash dividend payments of approximately $1.35 billion.
5 Share Repurchase Activity During the third quarter of fiscal 2015, Accenture repurchased or redeemed 5.6 million shares for a total of $518 million, including approximately 4.8 million shares repurchased in the open market. Accenture s total remaining share repurchase authority at May 31, 2015 was approximately $3.2 billion. At May 31, 2015, Accenture had approximately 660 million total shares outstanding, including 624 million Accenture plc Class A ordinary shares and 36 million Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares. Business Outlook Fourth Quarter Fiscal 2015 Accenture expects net revenues for the fourth quarter of fiscal 2015 to be in the range of $7.45 billion to $7.70 billion. This range assumes a foreign-exchange impact of negative 10 percent compared with the fourth quarter of fiscal Full Fiscal Year 2015 Accenture s business outlook for the full 2015 fiscal year now assumes a foreign-exchange impact of negative 7.5 percent compared with fiscal 2014; the previous foreign-exchange assumption was negative 8 percent. For fiscal 2015, the company now expects net revenue growth in local currency to be in the range of 9 percent to 10 percent, compared with 8 percent to 10 percent previously. Accenture now expects diluted GAAP EPS to be in the range of $4.67 to $4.72, including the pension settlement charge, compared with $4.61 to $4.71 previously. Excluding the pension settlement charge of $0.06 per share in the third quarter, the company now expects adjusted EPS to be in the range of $4.73 to $4.78, compared with $4.66 to $4.76 previously. Accenture continues to expect GAAP operating margin for the full fiscal year to be in the range of 14.2 percent to 14.4 percent. Excluding the pension settlement charge, the company continues to expect operating margin for the full fiscal year to be in the range of 14.4 percent to 14.6 percent, an expansion of 10 to 30 basis points from fiscal The company now expects operating cash flow for fiscal 2015 to be in the range of $3.8 billion to $4.1 billion, compared with $3.85 billion to $4.15 billion previously; now expects property and equipment additions to be $400 million, compared with $450 million previously; and continues to expect free cash flow to be in the range of $3.4 billion to $3.7 billion.
6 The company continues to expect to return at least $3.8 billion to its shareholders in fiscal 2015 through dividends and share repurchases. The company continues to expect its annual effective tax rate to be in the range of 26.0 percent to 27.0 percent. Accenture continues to target new bookings for fiscal 2015 in the range of $33 billion to $35 billion. Conference Call and Webcast Details Accenture will host a conference call at 8:00 a.m. EDT today to discuss its third-quarter financial results. To participate, please dial +1 (800) [+1 (612) outside the United States, Puerto Rico and Canada] approximately 15 minutes before the scheduled start of the call. The conference call will also be accessible live on the Investor Relations section of the Accenture Web site at A replay of the conference call will be available online at beginning at 10:30 a.m. EDT today, Thursday, June 25, and continuing until Thursday, Sept. 24, A podcast of the conference call will be available online at beginning approximately 24 hours after the call and continuing until Thursday, Sept. 24, The replay will also be available via telephone by dialing +1 (800) [+1 (320) outside the United States, Puerto Rico and Canada] and entering access code from 10:30 a.m. EDT Thursday, June 25 through Thursday, Sept. 24, About Accenture Accenture is a global management consulting, technology services and outsourcing company, with more than 336,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, Its home page is Non-GAAP Financial Information This news release includes certain non-gaap financial information as defined by Securities and Exchange Commission Regulation G. Pursuant to the requirements of this regulation, reconciliations of this non-gaap financial information to Accenture s financial statements as prepared under generally accepted accounting principles (GAAP) are included in this press release. Financial results in local currency are calculated by restating currentperiod activity into U.S. dollars using the comparable prior-year period s foreign-currency exchange rates. Accenture s management believes providing investors with this information gives additional insights into Accenture s results of operations. While Accenture s management believes that the non-gaap financial measures herein are useful in evaluating Accenture s operations, this information should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with GAAP.
7 Forward-Looking Statements Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of Words such as may, will, should, likely, anticipates, expects, intends, plans, projects, believes, estimates, positioned, outlook and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. These include, without limitation, risks that: the company s results of operations could be adversely affected by volatile, negative or uncertain economic conditions and the effects of these conditions on the company s clients businesses and levels of business activity; the company s business depends on generating and maintaining ongoing, profitable client demand for the company s services and solutions, and a significant reduction in such demand could materially affect the company s results of operations; if the company is unable to keep its supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, the company s business, the utilization rate of the company s professionals and the company s results of operations may be materially adversely affected; the markets in which the company competes are highly competitive, and the company might not be able to compete effectively; the company could have liability or the company s reputation could be damaged if the company fails to protect client and/or company data or information systems as obligated by law or contract or if the company s information systems are breached; the company s results of operations and ability to grow could be materially negatively affected if the company cannot adapt and expand its services and solutions in response to ongoing changes in technology and offerings by new entrants; the company s results of operations could materially suffer if the company is not able to obtain sufficient pricing to enable it to meet its profitability expectations; if the company does not accurately anticipate the cost, risk and complexity of performing its work or if the third parties upon whom it relies do not meet their commitments, then the company s contracts could have delivery inefficiencies and be less profitable than expected or unprofitable; the company s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; the company s profitability could suffer if its cost-management strategies are unsuccessful, and the company may not be able to improve its profitability through improvements to cost-management to the degree it has done in the past; the company s business could be materially adversely affected if the company incurs legal liability; the company s work with government clients exposes the company to additional risks inherent in the government contracting environment; the company might not be successful at identifying, acquiring or integrating businesses or entering into joint ventures; the company s Global Delivery Network is increasingly concentrated in India and the Philippines, which may expose it to operational risks; changes in the company s level of taxes, as well as audits, investigations and tax proceedings, or changes in the company s treatment as an Irish company, could have a material adverse effect on the company s results of operations and financial condition; as a result of the company s geographically diverse operations and its growth strategy to continue geographic expansion, the company is more susceptible to certain risks; adverse changes to the company s relationships with key alliance partners or in the business of its key alliance partners could adversely affect the company s results of operations; the company s services or solutions could infringe upon the intellectual property rights of others or the company might lose its ability to utilize the intellectual property of others; if the company is unable to protect its intellectual property rights from unauthorized use or infringement by third parties, its business could be adversely affected; the company s ability to attract and retain business and employees may depend on its reputation in the marketplace; many of the company s contracts include payments that link some of its fees to the attainment of performance or business targets and/or require the company to meet specific service levels, which could increase the variability of the company s revenues and impact its margins; if the company is unable to collect its receivables or unbilled services, the company s results of operations, financial condition and cash flows could be adversely affected; if the company is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; the company s share price and results of operations could fluctuate and be difficult to predict; the company s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; any changes to the estimates and assumptions that the company makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; the company may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the Risk Factors heading in Accenture plc s most recent annual report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture s expectations.
8 ### Contact: Roxanne Taylor Accenture +1 (917)
9 ACCENTURE PLC CONSOLIDATED INCOME STATEMENTS (In thousands of U.S. dollars, except share and per share amounts) (Unaudited) Three Months Ended May 31, Nine Months Ended May 31, % of Net % of Net % of Net 2015 Revenues 2014 Revenues 2015 Revenues 2014 REVENUES: Revenues before reimbursements ( Net revenues ) $ 7,770, % $ 7,735, % $ 23,159, % 22,225,054 Reimbursements 504, ,542 1,390,487 1,382,305 Revenues 8,275,066 8,240,180 24,549,913 23,607,359 % of Net Revenues $ 100% OPERATING EXPENSES: Cost of services: Cost of services before reimbursable expenses 5,245, % 5,199, % 15,854, % 15,009, % Reimbursable expenses 504, ,542 1,390,487 1,382,305 Cost of services 5,750,161 5,703,823 17,245,079 16,391,513 Sales and marketing 874, % 899, % 2,580, % 2,664, % General and administrative costs 452, % 458, % 1,317, % 1,347, % Pension settlement charge 64, % , % - - Reorganization benefits, net (18,015) (0.1%) Total operating expenses 7,141,547 7,061,414 21,207,652 20,386,212 OPERATING INCOME 1,133, % 1,178, % 3,342, % 3,221, % Interest income 6,441 7,513 25,880 22,229 Interest expense (4,030) (4,290) (10,746) (12,296) Other expense, net (3,839) (6,051) (28,326) (21,437) INCOME BEFORE INCOME TAXES 1,132, % 1,175, % 3,329, % 3,209, % Provision for income taxes 281, , , ,853 NET INCOME 850, % 881, % 2,485, % 2,415, % Net income attributable to noncontrolling interests in Accenture SCA and Accenture Canada Holdings Inc. (46,283) (51,523) (137,972) (143,470) Net income attributable to noncontrolling interests other (1) (10,250) (12,954) (31,739) (31,838) NET INCOME ATTRIBUTABLE TO ACCENTURE PLC $ 793, % $ 817, % $ 2,315, % $ 2,240, % CALCULATION OF EARNINGS PER SHARE: Net income attributable to Accenture plc $ 793,697 $ 817,336 $ 2,315,953 $ 2,240,482 Net income attributable to noncontrolling interests in Accenture SCA and Accenture Canada Holdings Inc. (2) 46,283 51, , ,470 Net income for diluted earnings per share calculation $ 839,980 $ 868,859 $ 2,453,925 $ 2,383,952 EARNINGS PER SHARE: -Basic $ 1.27 $ 1.29 $ 3.69 $ Diluted $ 1.24 $ 1.26 $ 3.61 $ 3.44 WEIGHTED AVERAGE SHARES: -Basic 625,969, ,128, ,523, ,231,759 -Diluted 677,825, ,038, ,719, ,943,009 Cash dividends per share $ 1.02 $ 0.93 $ 2.04 $ 1.86 (1) Comprised primarily of noncontrolling interest attributable to the noncontrolling shareholders of Avanade, Inc. (2) Diluted earnings per share assumes the redemption of all Accenture SCA Class I common shares owned by holders of noncontrolling interests and the exchange of all Accenture Canada Holdings Inc. exchangeable shares for Accenture plc Class A ordinary shares on a one-for-one basis. The income effect does not take into account Net income attributable to noncontrolling interests other, since those shares are not redeemable or exchangeable for Accenture plc Class A ordinary shares.
10 ACCENTURE PLC OPERATING GROUPS Communications, Media & Technology $ 1,613,478 $ 1,524,898 6% 17% Financial Services 1,638,313 1,677,066 (2) 10 Health & Public Service 1,383,639 1,313, Products 1,883,200 1,914,539 (2) 8 Resources 1,247,851 1,301,774 (4) 6 Other 3,901 3,521 n/m n/m TOTAL Net Revenues 7,770,382 7,735,638 % 10% Reimbursements 504, ,542 TOTAL REVENUES $ 8,275,066 $ 8,240,180 % GEOGRAPHY North America $ 3,644,002 $ 3,286,312 11% 12% Europe 2,653,071 2,953,023 (10) 7 Growth Markets 1,473,309 1,496,303 (2) 13 TOTAL Net Revenues $ 7,770,382 $ 7,735,638 % 10% TYPE OF WORK SUMMARY OF REVENUES (In thousands of U.S. dollars) (Unaudited) Three Months Ended May 31, Percent Increase (Decrease) U.S. dollars Percent Increase Local Currency Consulting $ 4,111,914 $ 4,086,455 1% 11% Outsourcing 3,658,468 3,649, TOTAL Net Revenues $ 7,770,382 $ 7,735,638 % 10% OPERATING GROUPS Communications, Media & Technology $ 4,711,300 $ 4,344,497 8% 16% Financial Services 4,944,075 4,838, Health & Public Service 4,071,998 3,727, Products 5,664,484 5,461, Resources 3,755,158 3,841,678 (2) 4 Other 12,411 11,434 n/m n/m TOTAL Net Revenues 23,159,426 22,225,054 4% 11% Reimbursements 1,390,487 1,382,305 1 TOTAL REVENUES $ 24,549,913 $ 23,607,359 4% GEOGRAPHY North America $ 10,494,381 $ 9,409,494 12% 12% Europe 8,217,856 8,431,801 (3) 9 Growth Markets 4,447,189 4,383, TOTAL Net Revenues $ 23,159,426 $ 22,225,054 4% 11% TYPE OF WORK Consulting $ 12,043,979 $ 11,721,038 3% 9% Outsourcing 11,115,447 10,504, TOTAL Net Revenues $ 23,159,426 $ 22,225,054 4% 11% n/m = not meaningful Nine Months Ended May 31, Percent Increase (Decrease) U.S. dollars Percent Increase Local Currency
11 ACCENTURE PLC For the Three Months Ended May 31, 2015 and 2014 (In thousands of U.S. dollars) (Unaudited) OPERATING INCOME BY OPERATING GROUP as Reported (GAAP) Three Months Ended May 31, Communications, Media & Technology $ 237,902 15% $ 222,957 15% Financial Services 265, , Health & Public Service 202, , Products 255, , Resources 171, , Total $ 1,133, % $ 1,178, % (GAAP) Pension Settlement Charge (1) Three Months Ended May 31, and Excluding Pension Settlement Charge (Non-GAAP) and as Reported (GAAP) Increase (Decrease) Communications, Media & Technology $ 237,902 $ 12,547 $ 250, % $ 222, % $ 27,492 Financial Services 265,863 13, , , ,395 Health & Public Service 202,644 11, , , ,209 Products 255,162 15, , , ,628 Resources 171,948 10, , , (53,589) Total $ 1,133,519 $ 64,382 $ 1,197, % $ 1,178, % $ 19,135 RECONCILIATION OF NET INCOME AND DILUTED EARNINGS PER SHARE, AS REPORTED (GAAP), TO NET INCOME AND DILUTED EARNINGS PER SHARE, AS ADJUSTED (NON-GAAP) As Reported (GAAP) Three Months Ended May 31, 2015 Pension Settlement Charge (1) Adjusted (Non- GAAP) 2014 As Reported (GAAP) before incomes taxes $ 1,132,091 $ 64,382 $ 1,196,473 $ 1,175,938 Provision for income taxes 281,861 25, , ,125 Net income $ 850,230 $ 39,144 $ 889,374 $ 881,813 Effective tax rate 24.9 % 25.7 % 25.0 % Diluted earnings per share $ 1.24 $ 0.06 $ 1.30 $ 1.26 (1) Represents non-cash pension settlement charge related to lump sum cash payments from the company's U.S. pension plan to former employees who elected to receive such payments. The payments settled the company's pension obligations to those who participated.
12 ACCENTURE PLC For the Nine Months Ended May 31, 2015 and 2014 (In thousands of U.S. dollars) (Unaudited) OPERATING INCOME BY OPERATING GROUP as Reported (GAAP) Nine Months Ended May 31, Communications, Media & Technology $ 628,320 13% $ 558,140 13% Financial Services 791, , Health & Public Service 568, , Products 816, , Resources 537, , Total $ 3,342, % $ 3,221, % (GAAP) Pension Settlement Charge (1) Nine Months Ended May 31, and Excluding Pension Settlement Charge (Non-GAAP) and as Reported (GAAP) Increase (Decrease) Communications, Media & Technology $ 628,320 $ 12,547 $ 640, % $ 558, % $ 82,727 Financial Services 791,606 13, , , ,432 Health & Public Service 568,277 11, , , ,923 Products 816,720 15, , , ,273 Resources 537,338 10, , , (144,859) Total $ 3,342,261 $ 64,382 $ 3,406, % $ 3,221, % $ 185,496 RECONCILIATION OF NET INCOME AND DILUTED EARNINGS PER SHARE, AS REPORTED (GAAP), TO NET INCOME AND DILUTED EARNINGS PER SHARE, AS ADJUSTED (NON-GAAP) As Reported (GAAP) Nine Months Ended May 31, 2015 Pension Settlement Charge (1) Adjusted (Non- GAAP) 2014 As Reported (GAAP) before income taxes $ 3,329,069 $ 64,382 $ 3,393,451 $ 3,209,643 Provision for income taxes 843,405 25, , ,853 Net $ 2,485,664 $ 39,144 $ 2,524,808 $ 2,415,790 Effective tax rate 25.3 % 25.6 % 24.7 % Diluted earnings per share $ 3.61 $ 0.06 $ 3.67 $ 3.44 (1) Represents non-cash pension settlement charge related to lump sum cash payments from the company's U.S. pension plan to former employees who elected to receive such payments. The payments settled the company's pension obligations to those who participated.
13 ACCENTURE PLC CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars) ASSETS May 31, 2015 August 31, 2014 (Unaudited) CURRENT ASSETS: Cash and cash equivalents $ 4,026,189 $ 4,921,305 Short-term investments 2,383 2,602 Receivables from clients, net 3,717,048 3,859,567 Unbilled services, net 1,831,087 1,803,767 Other current assets 1,492,814 1,317,201 Total current assets 11,069,521 11,904,442 NON-CURRENT ASSETS: Unbilled services, net 23,523 28,039 Investments 43,763 66,783 Property and equipment, net 752, ,444 Other non-current assets 5,419,558 5,137,744 Total non-current assets 6,239,206 6,026,010 TOTAL ASSETS $ 17,308,727 $ 17,930,452 CURRENT LIABILITIES: Current portion of long-term debt and bank borrowings $ 1 $ 330 Accounts payable 1,040,645 1,064,228 Deferred revenues 2,142,085 2,348,034 Accrued payroll and related benefits 3,305,945 3,380,748 Other accrued liabilities 1,399,766 1,364,739 Total current liabilities 7,888,442 8,158,079 NON-CURRENT LIABILITIES: LIABILITIES AND SHAREHOLDERS EQUITY Long-term debt 27,217 26,403 Other non-current liabilities 2,926,837 3,460,633 Total non-current liabilities 2,954,054 3,487,036 TOTAL ACCENTURE PLC SHAREHOLDERS EQUITY 5,911,214 5,732,035 NONCONTROLLING INTERESTS 555, ,302 TOTAL SHAREHOLDERS EQUITY 6,466,231 6,285,337 TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $ 17,308,727 $ 17,930,452
14 ACCENTURE PLC CONSOLIDATED CASH FLOWS STATEMENTS (In thousands of U.S. dollars) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 850,230 $ 881,813 $ 2,485,664 $ 2,415,790 Depreciation, amortization and asset impairments 153, , , ,664 Reorganization benefits, net (18,015) Share-based compensation expense 195, , , ,989 Change in assets and liabilities/other, net 214, ,947 (901,964) (1,537,555) Net cash provided by operating activities 1,413,364 1,363,260 2,587,551 1,836,873 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (113,554) (85,287) (246,980) (220,413) Purchases of businesses and investments, net of cash acquired (322,740) (65,631) (442,202) (675,220) Other investing, net 11,346 2,591 13,287 4,095 Net cash used in investing activities (424,948) (148,327) (675,895) (891,538) CASH FLOWS FROM FINANCING ACTIVITIES: Three Months Ended May 31, Nine Months Ended May 31, Proceeds from issuance of ordinary shares 187, , , ,768 Purchases of shares (518,176) (441,115) (1,788,974) (1,901,867) Cash dividends paid (674,735) (624,682) (1,353,471) (1,254,916) Other financing, net 3,101 4,869 52,169 88,440 Net cash used in financing activities (1,002,658) (865,980) (2,593,937) (2,580,575) Effect of exchange rate changes on cash and cash equivalents (20,969) 19,632 (212,835) 52,214 NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (35,211) 368,585 (895,116) (1,583,026) CASH AND CASH EQUIVALENTS, beginning of period 4,061,400 3,680,274 4,921,305 5,631,885 CASH AND CASH EQUIVALENTS, end of period $ 4,026,189 $ 4,048,859 $ 4,026,189 $ 4,048,859
FOR IMMEDIATE RELEASE Tower International Reports Solid Third Quarter And Raises Full Year Outlook LIVONIA, Mich., November 3, 2011 Tower International, Inc. [NYSE: TOWR], a leading integrated global manufacturer
FLY LEASING REPORTS SECOND QUARTER FINANCIAL RESULTS AND REPURCHASE OF 1.4 MILLION SHARES Dublin, Ireland, August 4, FLY Leasing Limited (NYSE: FLY) ( FLY ), a global lessor of modern, fuel-efficient commercial
Verifone Reports Results for the Second Quarter of Fiscal 2016 SAN JOSE, Calif. (BUSINESS WIRE) Verifone (NYSE: PAY), a world leader in payments and commerce solutions, today announced financial results
Sapiens Reports 12% Year-Over-Year Increase in Quarterly Revenue to $41 Million Non-GAAP Quarterly Operating Profit Increased by 58.5% Year-Over-Year Holon, Israel, May 6, 2015 Sapiens International Corporation,
WuXi PharmaTech Announces Second-Quarter 2014 Results SHANGHAI, August 13, 2014 /Xinhua-PRNewswire/ -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading research and development services company serving
IBM REPORTS 2014 FOURTH-QUARTER AND FULL-YEAR RESULTS Fourth-Quarter 2014: o Diluted EPS from continuing operations: - GAAP: $5.54, down 4 percent; - Operating (non-gaap): $5.81, down 6 percent; o Pre-tax
HP Inc. 1501 Page Mill Road Palo Alto, CA 94304 hp.com News Release HP Inc. Reports Hewlett-Packard Company Fiscal 2015 Full-Year and Fourth Quarter Results Editorial contacts HP Inc. Media Relations MediaRelations@hp.com
FOR IMMEDIATE RELEASE O-I REPORTS FULL YEAR AND FOURTH QUARTER 2014 RESULTS O-I generates second highest free cash flow in the Company s history PERRYSBURG, Ohio (February 2, 2015) Owens-Illinois, Inc.
NEWS RELEASE FOR IMMEDIATE RELEASE June 19, BlackBerry Reports 2015 Fiscal First Quarter GAAP Profitability Waterloo, ON BlackBerry Limited (NASDAQ: BBRY; TSX: BB), a global leader in mobile communications,
May 21, 2013 Intuit Reports Third-Quarter Results; Total Revenue Increases 13 Percent Small Business Group Grows Revenue 17 Percent MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq: INTU) today
Delphi Reports Third Quarter 2015 Financial Results GILLINGHAM, England - Delphi Automotive PLC (NYSE: DLPH), a leading global vehicle components manufacturer, today reported third quarter 2015 U.S. GAAP
DISCOVERY COMMUNICATIONS REPORTS THIRD QUARTER 2015 RESULTS, INCREASES BUYBACK AUTHORIZATION BY $2 BILLION AND ANNOUNCES RESUMPTION OF SHARE REPURCHASES BEGINNING IN FOURTH QUARTER 2015 Third Quarter 2015
For Immediate Release For Further Information Refer to: John J. Haines 260-824-2900 FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS Bluffton, Indiana July 30, 2013 - Franklin Electric
Microsoft Cloud and Hardware Results Drives Fourth Quarter Performance Commercial cloud annualized revenue run rate now exceeds $8 billion; Computing and Gaming Hardware, including Xbox and Surface, deliver
Visa Inc. Reports Fiscal First Quarter 2016 Results GAAP quarterly net income of $1.9 billion or $0.80 per share including non-cash, non-operating income related to the revaluation of the Visa Europe put
FOR IMMEDIATE RELEASE ADP REPORTS FOURTH QUARTER AND FISCAL 2011 RESULTS; PROVIDES FISCAL 2012 GUIDANCE For the Year, Revenues Rise 11%, 6% Organic; EPS from Continuing Operations up 6% (excluding certain
April 1, FOR IMMEDIATE RELEASE BlackBerry Reports Software and Services Growth of 106 Percent for Q4 and 113 Percent for Fiscal Company reports positive free cash flow for eighth consecutive quarter and
FOR IMMEDIATE RELEASE June 23, BlackBerry Reports Strong Software Revenue and Positive Cash Flow for the Fiscal 2016 First Quarter Waterloo, ON BlackBerry Limited (NASDAQ: BBRY; TSX: BB), a global leader
cytec News & Information Cytec Industries Inc. Five Garret Mountain Plaza Woodland Park, New Jersey 07424 www.cytec.com Contact: Jodi Allen (Investor Relations) (973) 357-3283 Release Date: Immediate Cytec
IBM REPORTS 2013 FOURTH-QUARTER AND FULL-YEAR RESULTS Fourth-Quarter 2013: o Diluted EPS: - GAAP: $5.73, up 12 percent; - Operating (non-gaap): $6.13, up 14 percent; o Net income: - GAAP: $6.2 billion,
GAP INC. REPORTS THIRD QUARTER RESULTS SAN FRANCISCO November 19, 2015 Gap Inc. (NYSE: GPS) today reported results for the third quarter of fiscal year 2015 and updated its full-year fiscal 2015 outlook.
John Cummings Salesforce Investor Relations 415-778-4188 email@example.com Chi Hea Cho Salesforce Public Relations 415-281-5304 firstname.lastname@example.org Salesforce Announces Fiscal 2015 Fourth Quarter
Amphenol News Release World Headquarters 358 Hall Avenue P. O. Box 5030 Wallingford, CT 06492-7530 Telephone (203) 265-8900 FOR IMMEDIATE RELEASE For Further Information: Craig A. Lampo Senior Vice President
China Distance Education Holdings Limited Reports First Quarter Fiscal Year 2016 Financial Results - Revenue Up 13.5% Year-Over-Year to $24.4 Million, Exceeding Guidance - Cash Receipts From Online Course
John Cummings Salesforce Investor Relations 415-778-4188 email@example.com Chi Hea Cho Salesforce Public Relations 415-281-5304 firstname.lastname@example.org Salesforce Announces Fiscal 2016 First Quarter
FOR IMMEDIATE RELEASE Contacts: Jeff Young Tom Barth Media Relations Investor Relations Akamai Technologies Akamai Technologies 617-444-3913 617-274-7130 email@example.com firstname.lastname@example.org AKAMAI REPORTS
ANNOUNCES THIRD QUARTER 2015 FINANCIAL RESULTS KANSAS CITY, MO - October 22, 2015 DST Systems, Inc. (NYSE: DST) reported consolidated net income of $75.1 million ($2.08 per diluted share) for the third
Intel Corporation 2200 Mission College Blvd. Santa Clara, CA 95054-1549 CONTACTS: Mark Henninger Amy Kircos Investor Relations Media Relations 408-653-9944 480-552-8803 email@example.com firstname.lastname@example.org
WILLIAMS-SONOMA, INC. 3250 Van Ness Avenue San Francisco, CA 94109 CONT: Julie P. Whalen EVP, Chief Financial Officer (415) 616-8524 Gabrielle L. Rabinovitch Vice President, Investor Relations (415) 616-7727
Monster Worldwide Reports Third Quarter 2015 Results Third Quarter Financial Highlights: o Company Exceeds Expectations on All Profitability Metrics For the 5th Consecutive Quarter Adjusted EBITDA Including
2013 Letter from Our Chairman & CEO In fiscal 2013, we extended our track record of creating exceptional shareholder value. Pierre Nanterme Chairman & CEO Delivering in fiscal 2013 In fiscal 2013, Accenture
Exhibit 99.1 Investor Relations Contact: Media Contact: Carolyn Bass Mei Li Market Street Partners NetSuite Inc. 415.445.3232 650.627.1063 IR@netsuite.com email@example.com NETSUITE ANNOUNCES FOURTH QUARTER
HOPKINTON, Mass., April 24, 2013 - HIGHLIGHTS: Record first-quarter revenue, non-gaap net income, non-gaap EPS, operating cash flow and free cash flow Year-over-year revenue growth across U.S. and major
June 23, 2016 FOR IMMEDIATE RELEASE BlackBerry Reports Record Software and Services Revenue for Q1 Fiscal 2017 Company delivers positive non-gaap operating income and breakeven non-gaap EPS Waterloo, ON
Baidu Announces Second Quarter 2015 Results BEIJING, China, July 27, 2015 Baidu, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, today announced its unaudited financial results
Motorola Solutions Reports Third-Quarter 2015 Financial Results Sales of $1.4 billion, down 1 percent from a year ago, including $54 million of unfavorable foreign currency impact North America sales grew
Strength in Microsoft Cloud Highlights Q3 Results Increasing usage of Microsoft Azure, Office 365, Bing and Xbox Live contributes to Q3 growth REDMOND, Wash. April 23, 2015 Microsoft Corp. today announced
NEWS RELEASE FORACO INTERNATIONAL REPORTS Q3 2014 Toronto, Ontario / Marseille, France Tuesday, November 4, 2014 Foraco International SA (TSX:FAR) (the Company or Foraco ), a leading global provider of
FOR IMMEDIATE RELEASE March 29, 2012 RESEARCH IN MOTION REPORTS YEAR-END AND FOURTH QUARTER RESULTS FOR FISCAL 2012 Waterloo, ON Research In Motion Limited (RIM) (Nasdaq: RIMM; TSX: RIM), a world leader
R E L E A S E FOR IMMEDIATE RELEASE 4714 Gettysburg Road Mechanicsburg, PA 17055 Select Medical Holdings Corporation Announces Results for Second Quarter Ended June 30, 2015 NYSE Symbol: SEM MECHANICSBURG,
Contact Chris Grandis FINAL Media Relations Director Moved on Business Wire Corporate February 8, 2012 703.641.2316 firstname.lastname@example.org Bryan Brady Vice President, Investor Relations Corporate 703.641.3000
Axalta Coating Systems 2001 Market Street Suite 3600 Philadelphia, PA 19103 USA Contact Christopher Mecray D +1 215 255 7970 Christopher.Mecray@axaltacs.com For Immediate Release Axalta Releases Second
N E W S R E L E A S E Investors: Brett Manderfeld John S. Penshorn Media: Don Nathan Tyler Mason Vice President Senior Vice President Senior Vice President Vice President 952-936-7216 952-936-7214 952-936-1885
FOR IMMEDIATE RELEASE Waste Management Announces Second Quarter Earnings Collection and Disposal Income from Operations Grows 3.4% HOUSTON July 26, 2012 Waste Management, Inc. (NYSE: WM) today announced
China Cord Blood Corporation Reports Financial Results for the Fourth Quarter and Full Year Fiscal 2010 Annual Revenue up 34.4% to RMB 261.5 Million Fiscal 2010 New Subscribers grew 30.5% Conference Call
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date
UNAUDITED SUMMARY OF OPERATIONS FOR THE FIRST QUARTER ENDED JULY 31, 2011 AND 2010 (in thousands, except per share amounts) US GAAP First Quarter Ended Revenue $ 430,069 407,938 5% Costs and Expenses Cost
April 30, 2014 ADP Reports Third Quarter Fiscal 2014 Results Revenues Rise 7%, Nearly all Organic, to $3.3 Billion for the Quarter; EPS Rises 7% ROSELAND, N.J., April 30, 2014 (GLOBE NEWSWIRE) -- ADP (Nasdaq:ADP),
NEWS RELEASE Westell Technologies Reports Fiscal Third Quarter 2016 Results Year-over-year revenue grew 44% to $20.2 million AURORA, IL, February 3, 2016 Westell Technologies, Inc. (NASDAQ: WSTL), a leading
News Release ACI Worldwide, Inc. Reports Financial Results for the Quarter Ended March 31, 2014 HIGHLIGHTS SNET bookings of $122 million, up 59% from Q1 last year Recurring revenue up 57% from last year,
NEWS RELEASE FOR IMMEDIATE RELEASE December 20, 2013 BLACKBERRY REPORTS THIRD QUARTER RESULTS FOR FISCAL 2014 Waterloo, ON BlackBerry Limited (NASDAQ: BBRY; TSX: BB), a global leader in wireless innovation,
Fiscal Year 2015 Third Quarter Conference Call July 29, 2015 Copyright 2015 Rockwell Automation, Inc. All Rights Reserved. 2 Safe Harbor Statement This presentation includes statements related to the expected
N E W S R E L E A S E Investors: Brett Manderfeld John S. Penshorn Media: Don Nathan Tyler Mason Vice President Senior Vice President Senior Vice President Vice President 952-936-7216 952-936-7214 952-936-1885
PAYCHEX, INC. REPORTS THIRD QUARTER RESULTS March 26, 2014 THIRD QUARTER FISCAL 2014 HIGHLIGHTS Total service revenue increased 7% to $626.0 million. Payroll service revenue increased 5% to $413.9 million.
FOR IMMEDIATE RELEASE February 9, THE WALT DISNEY COMPANY REPORTS RECORD QUARTERLY EARNINGS FOR THE FIRST QUARTER OF FISCAL Global success of Star Wars: The Force Awakens drove record quarterly operating
Sierra Wireless Reports Second Quarter 2015 Results Q2 2015 revenue of $158 million; 17% year-over-year growth Record revenue of $158.0 million, an increase of 17.0% compared to Q2 2014 Non-GAAP earnings
Baidu Announces Fourth Quarter and Fiscal Year 2011 Results BEIJING, China, February 16, 2012 Baidu, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, today announced its unaudited
DONALDSON CO INC FORM 8-K (Current report filing) Filed 02/24/15 for the Period Ending 02/24/15 Address 1400 W. 94TH ST. MINNEAPOLIS, MN 55431 Telephone 6128873131 CIK 0000029644 Symbol DCI SIC Code 3564
Purchase, New York Telephone: 914-253-2000 www.pepsico.com Contacts: Investor Media Jamie Caulfield Jeff Dahncke Senior Vice President, Investor Relations Senior Director, Media Bureau 914-253-3035 914-253-3941
Contacts Analyst: Robert Lentz Media: Scott Griffin 614-876-2000 740-657-6516 Greif Reports Fourth Quarter 2014 Results Net sales for the fourth quarter 2014 were flat compared to the fourth quarter 2013
HubSpot's Momentum Accelerates in Q4 2014 with 53% Revenue Growth and 35% Customer Growth CAMBRIDGE, MA (February 11, 2015) HubSpot, Inc. (NYSE: HUBS), a leading inbound marketing and sales software company,
News Release 2011 1 1 D CEO 2010 10 20 NYSE: ACN 10 20 2011 1 1 Pierre Nanterme CEO 10 20 CEO D William D. Green CEO CEO 2007 27 CEO CEO - Sir Mark Moody-Stuart CEO CEO CEO Skills to Succeed CEO 2011 20
FOR IMMEDIATE RELEASE Burlington Stores, Inc. Announces Operating Results for the Fourth Quarter and Fiscal Year Ended February 1, 2014 Comparable store sales increased 4.0% and 4.7%, for the fourth quarter
MAZOR ROBOTICS LTD. FORM 6-K (Report of Foreign Issuer) Filed 05/10/16 for the Period Ending 05/10/16 Telephone 97246187101 CIK 0001566844 Symbol MZOR SIC Code 3841 - Surgical and Medical Instruments and
FOR IMMEDIATE RELEASE August 4, THE WALT DISNEY COMPANY REPORTS THIRD QUARTER AND NINE MONTHS EARNINGS FOR FISCAL BURBANK, Calif. The Walt Disney Company today reported record quarterly earnings of $2.5
FOR IMMEDIATE RELEASE For media inquiries, contact: Eric Armstrong, Citrix Systems, Inc. (954) 267-2977 or email@example.com For investor inquiries, contact: Eduardo Fleites, Citrix Systems, Inc.
FOR IMMEDIATE RELEASE For media inquiries, contact: Eric Armstrong, Citrix Systems, Inc. (954) 267-2977 or firstname.lastname@example.org For investor inquiries, contact: Eduardo Fleites, Citrix Systems, Inc.