Following a resolution of a disputed overseas contract with U.K.-based National Health Service, consulting giant Accenture said fourth-quarter profits hit $346.4 million versus $229.1 million for the fourth quarter of one year ago.
Prior to releasing its fourth-quarter and year-end numbers, the former Andersen Consulting said it resolved its problems with NHS by relinquishing the $3.73 billion IT delivery contract over to Computer Sciences.
Accenture said the change resulted in a revenue loss of some $339 million for the quarter.
Meanwhile for the year, Accenture said profits were $973.3 million, compared to $940.5 million for fiscal 2005. In addition, FY2006 net revenues rose 9 percent, to $16.65 billion.
For the year, Accenture’s consulting net revenues were $9.9 billion, an increase of 6 percent, while outsourcing net revenues were $6.75 billion, an increase of 13 percent in U.S. dollars over fiscal 2005.
The company said new bookings for fiscal 2006 hit $20.4 billion.
