Share Repurchase Activity
During the fourth quarter of fiscal 2013, Accenture repurchased or
redeemed 14.5 million shares, including 13.3 million shares repurchased
in the open market, for a total of $1.10 billion. During the full fiscal
year 2013, Accenture repurchased or redeemed 34.4 million shares,
including 26.5 million shares repurchased in the open market, for a
total of $2.54 billion. The Accenture Board of Directors has approved $5
billion in additional share repurchase authority, bringing Accenture’s
total outstanding authority to approximately $7 billion.
At Aug. 31, 2013, Accenture had approximately 678 million total shares
outstanding, including 636 million Accenture plc Class A ordinary shares
and minority holdings of 42 million shares (Accenture SCA Class I common
shares and Accenture Canada Holdings Inc. exchangeable shares).
First Quarter Fiscal 2014
Accenture expects net revenues for the first quarter of fiscal 2014 to
be in the range of $7.0 billion to $7.3 billion, which assumes a
foreign-exchange impact of negative 2 percent compared with the first
quarter of fiscal 2013.
Fiscal Year 2014
Accenture’s business outlook for the full 2014 fiscal year assumes a
foreign-exchange impact of negative 1 percent compared with fiscal 2013.
For fiscal 2014, the company expects net revenue growth to be in the
range of 2 percent to 6 percent in local currency. The company expects
diluted EPS to be in the range of $4.42 to $4.54.
Accenture expects operating margin for the full fiscal year to be in the
range of 14.3 percent to 14.5 percent, an expansion of 10 to 30 basis
points from the adjusted operating margin of 14.2 percent for fiscal
For fiscal 2014, the company expects operating cash flow to be in the
range of $3.6 billion to $3.9 billion; property and equipment additions
to be $400 million; and free cash flow to be in the range of
$3.2 billion to $3.5 billion.
The company expects its annual effective tax rate to be in the range of
26.5 percent to 27.5 percent.
Accenture is targeting new bookings for fiscal 2014 in the range of
$32 billion to $35 billion.
Conference Call and Webcast Details
Accenture will host a conference call at 4:30 p.m. EDT today to discuss
its fourth-quarter and full-year fiscal 2013 financial results. To
participate, please dial +1 (800) 230-1059 [+1 (612) 234-9959 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 www.accenture.com.