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$ESIO said it received a multi-unit order for its GemStone flex PCB laser processing system from a manufacturer of flexible circuit boards. Introduced in 2015, the GemStone system relies on $ESIO's internally-developed laser, featuring GemPulse technology to deliver precise laser pulses demanded by leading-edge applications.
$ACN has opened a new innovation hub in Boston’s Back Bay. The company plans to add 400 highly skilled technology jobs in Boston by the end of 2020, and to expand its US apprenticeship program to Boston. The Boston hub, the second of 10 new innovation hubs Accenture had announced last year, is designed for collaboration and ideation.
Accenture Ventures, a unit of professional services provider $ACN, has forged an ecosystem partnership with Microsoft Accelerator, a program designed for empowering start-ups, to strengthen the start-up ecosystem in India. Under the partnership, the companies will host various start-up events in India to engage with the country’s start-up network.
Expanding its digital services portfolio further, $ACN subsidiary Accenture Interactive signed an agreement to acquire German firm Mackevision, which provides immersive product content. The financial terms of the deal are not known. The buyout will help Accenture accelerate its ability to envision, create and operate XR solutions for its clients.
Specialty manufacturer $ESL appointed Stephen Nolan as CFO, effective February 5, 2018, to succeed Robert George. Most recently, Nolan served Vista Outdoor as CFO. Earlier, he served Alliant Techsystems for a decade, in various strategic and operational management roles. Meanwhile, George will continue with Esterline in a special advisory role.
$ACN has appointed Eva Sage-Gavin as Senior Managing Director for Talent and Organization practice, effective immediately. She has held leadership positions at Gap, PepsiCo and Xerox. Most recently, Sage-Gavin served Boston Consulting Group as Senior Advisor and was a member of its CEO Advisory practice.
Professional services company $ACN has completed the acquisition of digital commerce agency Altima, expanding the capabilities of Accenture Interactive in various key markets including France, where Altima is headquartered. The company did not disclose the financial terms of the deal.
$ACN has signed a five-year agreement with automotive supplier Faureica, under which the companies will co-invest and work together to enhance innovation for mobility services. The focus areas of the partnership will be cognitive technologies to reinvent the on-board user experience and services to enhance health and wellness.
During 2Q18, $RECN’s revenue in the US increased by 1.5% YoY, reflecting increased activity and bill rates in several of the company's largest markets. International revenue improved by 24.7% YoY, reflecting strength in the UK, Ireland and Sweden practices. Revenue in Europe grew 20.9% YoY, excluding revenue attributable to taskforce.
$RECN reported net income of $8.1MM or $0.27 per share in 2Q18 compared to $5.7MM or $0.16 per share in 2Q17. Revenue increased by 6.2% to $156.7MM compared to 2Q17. Excluding taskforce's revenue of $3.7MM in the quarter, revenue was up 3.7%.
$NCR completes the final phase of the previously-announced sale of Interactive Printer Solutions (IPS) division to Interactive Printer Solutions FZCO (IPS FZCO), a member of the Turbon Group of Companies. Financial terms of the transaction were not disclosed.
$ACN plans to return about $4.3Bil to shareholders through dividends and share buybacks in FY18, and expects to reduce outstanding shares by 1%. With more acquisitions in the pipeline, Accenture expects FY18 to witness a 2.5-3% inorganic revenue contribution. According to the company, the US tax legislation will have minimal impact on its finances.
$ACN is strengthening its marketing capabilities by investing to scale intelligent marketing operations. AI is being incorporated increasingly into clients’ businesses across every function and process. The company expects to record a non-cash expense of up to $500MM in FY18, to reflect the impact of lower tax rates on its US deferred tax assets.
$ACN said strong double-digit growth in the Digital Cloud and Security divisions continues to be its main growth drivers. The company intends to invest $1.1-1.4Bil in acquisitions in fiscal 2018. Going forward, Accenture Digital will be focused on the key areas of Accenture Interactive, Accenture Industry X.O and Accenture Applied Intelligence.
$ACN said it expects to register revenues in the range of $9.15Bil to $9.40Bil in the second quarter of fiscal 2018. During the quarter, the topline is anticipated to expand between 6% and 9% in local currency, reflecting a positive 4.5% foreign-exchange impact.
$ACN raised its FY18 earnings per share guidance to the range of $6.48 to $6.66 from the earlier estimate of $6.36-$6.60. Revenue is seen growing 6-8% in local currency. Operating margin for 2018 is forecasted in the 14.9-15.1% range, and operating cash flow between $5Bil and $5.3Bil. Effective tax rate is expected to be in the range of 22% to 24%.
The major business segments of $ACN registered double-digit revenue growth in the first quarter, led by the Financial Services division that grew 14% to $2.1Bil. Revenues of Communications, Media & Technology advanced 11%, and those of Health & Public Service moved up 9%. Products and Resources revenues increased 11% and 12%, respectively.
With strong contributions from the high-growth Digital and Cloud businesses, $ACN’s revenues grew 12% to more than $10Bil in 1Q18. The topline benefited from a robust gain in new bookings, with inputs from the company's recent acquisitions. Earnings of the tech consulting giant climbed 13% annually to $1.79 per share, exceeded market expectations.