New York (Dec. 23, 2002) -- Accenture is bidding adieu to 2002 on an up note -- the consulting firm said it expects to beat analysts' estimates for earning per share for the first quarter of fiscal 2003.The company expects earnings per share for the quarter ended Nov. 30 to be $0.27, exceeding analysts' current consensus estimate of $0.24. Net revenues are expected to be between $2.90 billion and $2.95 billion, slightly above analysts' current consensus estimate of $2.87 billion.
While Accenture called its own performance for the first quarter of 2003 "solid," the company said it is still cautious about the business outlook "because the economic and geopolitical climate remains unstable."
Accenture anticipates EPS for the second quarter ending Feb. 28, 2003, to be between $0.21 and $0.25, while net revenues for that period are expected to decline 1 percent to 6 percent from net revenues in the same quarter of fiscal 2002. For 2003, Accenture is targeting earnings per share of $1.05 and net revenue growth of 0 to 2 percent over fiscal 2002.
The company, which had net revenue of $11.6 billion for fiscal 2002, will issue its full first-quarter earnings release on Jan. 9, 2003.
-- Electronic Accountant Newswire staff
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