Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, today announced financial results for the third quarter of fiscal year 2013, which ended March 31, 2013.
Total revenues were $941 million for the quarter, an increase of 4% (5.5% constant currency) from $902 million for the third quarter of fiscal 2012. On an organic basis, which excludes the impact of changes in foreign currency exchange rates, acquisitions and divestitures, revenues increased 2% from the prior-year third quarter. Currency translation negatively impacted our third quarter revenue by approximately $10 million or 1%.
- Revenue increased 4% over prior year (5.5% constant currency)
- Diluted EPS of $1.34, an increase of 41% over prior year
- Adjusted Diluted EPS of $1.60, an increase of 15% over prior year
- Increasing full year adjusted diluted EPS guidance range to $5.44 to $5.49
Outlook for Fiscal 2013
For fiscal 2013, the company expects to report revenues of approximately $3.6 billion, reflecting constant currency revenue growth in the range of 6% to 7%, and adjusted diluted earnings per share in the range of $5.44 to $5.49.
For the fourth quarter of fiscal 2013, the company expects to report revenues in the range of $870 million to $890 million, reflecting constant currency revenue growth in the range of 6% to 9%, and adjusted diluted earnings per share in the range of $1.23 to $1.28. This guidance assumes an average exchange rate of 1.51 U.S. dollars to the British Pound and 1.30 U.S. dollars to the Euro for the fourth quarter of fiscal 2013.
