01—Abstract
Summary
Summary of the 8-K filed March 24, 2011. Cited figures are marked; the original filing is the authoritative source.
Accenture plc filed an 8-K on March 24, 2011, to report its financial results for the second quarter of fiscal year 2011, ending February 28, 2011.
The filing primarily serves as a notification that a press release containing these results was issued on the same date. Investors should refer to the attached Exhibit 99.1 for the detailed financial performance and operational metrics. This report highlights Accenture's commitment to providing timely updates on its financial condition and operational outcomes to the market.
The company also specified two non-GAAP financial measures it utilizes: free cash flow (operating cash flow less additions to property and equipment) and percentage changes in net revenues on a local currency basis. Accenture's management believes these measures offer valuable insights into the company's liquidity and revenue growth, excluding the impact of foreign currency fluctuations, thereby facilitating a more meaningful comparison of performance over time. Reconciliations to GAAP measures are available in the press release.
02—Key points
Key Highlights
- Accenture announced its financial results for the second quarter of fiscal year 2011, ending February 28, 2011.
- The 8-K filing includes a press release (Exhibit 99.1) detailing these financial results.
- The company disclosed its use of non-GAAP financial measures, including free cash flow.
- Percentage changes in net revenues on a local currency basis are also presented as a non-GAAP measure.
- Management believes these non-GAAP measures provide meaningful additional information about the company's liquidity and revenue performance.
- Reconciliations of non-GAAP measures to their most directly comparable GAAP measures are included in the press release.
- The filing was made on March 24, 2011, providing timely information to investors.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The primary purpose of this 8-K filing is to announce Accenture's financial results for its second quarter of fiscal year 2011, which ended on February 28, 2011. It formally submits the press release containing these results to the SEC.
What non-GAAP financial measures does Accenture use and why?
Accenture uses two key non-GAAP measures: free cash flow (defined as operating cash flow less property and equipment additions) and net revenue growth excluding foreign currency fluctuations. Management believes these measures provide investors with a clearer understanding of the company's liquidity and operational performance by removing the impact of currency exchange rate volatility and capital expenditures.
Where can I find the detailed financial results?
The detailed financial results for Accenture's second quarter of fiscal year 2011 are provided in the press release attached as Exhibit 99.1 to this 8-K filing. This press release also includes reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures.
Is the information in the press release legally filed with the SEC?
The information in the press release is furnished, not filed, with the SEC. This means it is provided to the SEC for informational purposes but does not carry the same legal implications as officially filed financial statements.
04—Continue