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Technology outsourcing and consulting firm Accenture reported a fall in quarterly profit Thursday, but gave a stronger-than-expected outlook for the fiscal year that began in September, supporting the view that corporate spending was recovering.
Accenture's [ACN
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] diluted net income for its fiscal fourth quarter ended Aug. 31 fell to $301.4 million, or 39 cents a share, from $543.1 million, or 67 cents a share, in the year-ago period.
Excluding restructuring charges, earnings fell to 63 cents a share, which was in line with the average analyst forecast according to Reuters Estimates.
For fiscal 2010, the company forecast earnings per share of $2.64 to $2.72, compared with $2.44 in the previous year. Analysts had expected $2.75, according to Reuters Estimates.
Accenture has fared relatively well amid a global economic slowdown due to solid demand for its outsourcing services, but many customers have been slowing the pace of ongoing projects and deferring large commitments to consulting projects.
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