Late on Thursday, Accenture Ltd. (NYSE: ACN) announced that fiscal second-quarter net income remained relatively flat at $411 million, or 63 cents, compared to $407 million, or 64 cents a share, in the prior year quarter. Revenues fell to $5.27 billion from $5.61 billion. The company lowered its full year financial guidance. Chairman & CEO William D. Green commented "We delivered a solid quarter, given an economic environment that is as challenging as any we have ever experienced. This increasingly uncertain environment is affecting business broadly and has had a dramatic impact on some of our clients. Against that backdrop, we grew revenues in local currency, grew operating income, expanded operating margin by 150 basis points and delivered solid earnings per share. We also generated significant cash flow, and our balance sheet remains exceptionally strong. Accenture said it now expects to report full year earnings in the range of $2.60 to $2.67, compared to its previous forecast of $2.78 to $2.85. The company also lowered its full-year revenue forecast to flat to 4 percent growth, compared with its previous forecast of 6 to 10 percent growth. Green said "We continue to stay relevant and responsive to our clients to help them adapt to their changing needs. We are revising our business outlook for the rest of the year to reflect the continued uncertainty in the global marketplace. That said, we continued to grow market share, and our results in the second quarter reflect our intense focus on the disciplined management of our business. We believe we are well-positioned to continue to deliver significant value to our clients and shareholders." Shares of Accenture tumbled over 9% in extended trading.

Lululemon Athletica, Inc. (NASDAQ: LULU) reported that its fourth-quarter net income dropped to $10.9 million, or 16 cents a share, from $14.6 million, or 21 cents a share, in the year-ago period. Revenue fell marginally to $103.9 million from $104 million. Analysts on average were looking for earnings of 15 cents a share on revenue of $94.51 million. Looking ahead to the first quarter, the company expects to report earnings in the range of 7 cents to 8 cents a share, and revenue in the range of $70 million to $75 million. CEO Christine Day said, "Looking at 2009, we will continue to be focused on selective use of capital and generating positive cash flow as we position ourselves to respond quickly to changes in the macro-environment. We are confident that we will emerge from these challenging conditions well positioned for long term growth." Shares of the company were up 2.35% in late trading.

SMART Modular Technologies (WWH) Inc. (SMOD) swung to a fourth quarter net loss of $1.9 million or 3 cents a share, compared to net income of $11.4 million, or 18 cents a share, in the same quarter a year ago.