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Accenture net income rises 32%

Consulting firm lifts profit forecast, reports $5.5 billion in new bookings

By Alistair Barr, MarketWatch

Last Update: 5:46 PM ET Dec 20, 2006

SAN FRANCISCO (MarketWatch) -- Accenture Ltd. reported a 32% increase in fiscal first-quarter net income late Wednesday and also lifted its full-year profit forecast, due to rising demand for its consulting and outsourcing services.

Net income was $284.2 million, or 46 cents a share, vs. $214.9 million or 36 cents a share, the company said. Net revenue came in at a record $4.75 billion in the period, up 14% from a year earlier.

ACN ) lifted its fiscal full-year profit forecast to a range of $1.80 to $1.85 a share, up from a previous estimate of $1.77 to $1.82 a share. The company stuck to a full-year net revenue growth forecast of 9% to 12% in local currency.

New bookings -- an indicator of future revenue and potential profit -- were $5.5 billion in the quarter, with a record $3 billion in consulting, according to Accenture.

"We are seeing sustained demand for our services, particularly in consulting," Chief Executive William Green said in a statement.

Shares of Accenture climbed 2.6% to $35.99 during after-hours trading Wednesday. The stock is up almost 20% so far in 2006.

Alistair Barr is a reporter for MarketWatch in San Francisco.