Government drives growth for Accenture
- By John Moore
- Jan 05, 2006
"HHS Picks 4 For Health Net Prototypes"
Accenture reported a double-digit revenue and earnings increase for the first quarter of its new fiscal year, pointing to work for federal agencies as one of the prime contributors.
The company reported today net revenue of $4.17 billion for the quarter ending Nov. 30, 2005. That’s a 12 percent increase compared with the same quarter a year ago when it logged $3.73 billion.
Accenture’s government operating group posted first-quarter revenue of $598 million, a 14 percent rise compared with $524 million for the same period last year. Government was Accenture’s third-fastest growing business segment, trailing only the company’s products and resources operating groups, which grew at 18 percent and 15 percent, respectively.
Government customers hired Accenture for several outsourcing projects in the company’s Americas and Asia/Pacific regions, said Stephen Rohleder, Accenture’s chief operating officer, speaking during a conference call. In one project, Accenture is helping the Texas Health and Human Services Commission improve the process through which people apply for Medicaid and other social services. That contract is worth about $840 million.
Overall, the $4.17 billion revenue figure is the highest quarterly revenue in the company’s history, said William Green, Accenture’s chief executive officer. Green added that the company had brought in $5.54 billion in new bookings -- contracts signed for future work -- the highest mark in the past seven quarters.