Outsourcing Boosts Accenture During SlumpOutsourcing Boosts Accenture During Slump

IT consulting firm Accenture leaned on government contracts and a growing outsourcing business to weather a difficult quarter for the consulting industry. Accenture (ACN--NYSE) last week reported net income of $81.7 million on $2.99 billion in revenue for its first fiscal quarter ended Nov. 30. Sales rose 6% from the first quarter of the previous year, led by 32% outsourcing growth and a 58% jump in government work. Sales dropped 14% in communication and high-tech and 6% in financial services.