01—Abstract
Summary
Summary of the 8-K filed June 23, 2011. Cited figures are marked; the original filing is the authoritative source.
This Accenture plc (ACN) 8-K filing, dated June 23, 2011, reports the company's financial results for its third quarter of fiscal year 2011, which concluded on May 31, 2011.
The primary focus of this report is the dissemination of these financial results, as detailed in an accompanying press release. Investors should note that Accenture is providing certain non-GAAP financial measures to offer a more nuanced view of its performance and liquidity. The non-GAAP measures highlighted include free cash flow (operating cash flow less capital expenditures) and net revenue growth on a local currency basis, excluding the impact of currency fluctuations.
Accenture's management believes these metrics provide valuable insights into the company's operational efficiency and financial health beyond traditional GAAP reporting. Reconciliations to GAAP measures are available in the referenced press release, emphasizing that these supplemental figures should be considered alongside, not as a replacement for, GAAP-based information.
02—Key points
Key Highlights
- Accenture plc filed an 8-K on June 23, 2011, to report its third quarter FY11 financial results.
- The third fiscal quarter ended on May 31, 2011.
- The filing includes a press release (Exhibit 99.1) detailing these financial results.
- Accenture is presenting non-GAAP financial measures alongside GAAP results.
- Key non-GAAP metrics disclosed are free cash flow and net revenue growth in local currency.
- Free cash flow is defined as operating cash flow minus additions to property and equipment.
- Local currency net revenue growth excludes the impact of foreign currency exchange rate fluctuations.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The main purpose of this 8-K filing is to report Accenture's financial results for the third quarter of its fiscal year 2011, which ended on May 31, 2011. It includes an attached press release that contains these details.
What non-GAAP financial measures is Accenture providing?
Accenture is providing two key non-GAAP financial measures: free cash flow (defined as operating cash flow less capital expenditures) and percentage changes in net revenues on a local currency basis (which excludes the impact of foreign currency fluctuations). Accenture believes these provide additional meaningful insights into the company's performance and liquidity.
Where can investors find the actual financial results?
The specific financial results for the third quarter of fiscal year 2011 are detailed in the press release attached as Exhibit 99.1 to this 8-K filing.
Are the non-GAAP measures presented as a substitute for GAAP measures?
No, Accenture states that while its management believes the non-GAAP information is useful, it should be considered supplemental and not a substitute for financial information prepared in accordance with GAAP. Reconciliations to GAAP measures are provided in the press release.
04—Continue