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7/26/2002
02:09 PM
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EDS Faces WorldCom Backlash

WorldCom's tendrils pulled down EDS's second-quarter numbers in the form of a $101 million reserve the service provider had to set aside to cover money it's owed by the telecom vendor. Even so, EDS reported net income of $316 million on $5.5 billion in revenue for the quarter ended June 30, compared with $300 million in net income on revenue of $5.1 billion in the year-ago quarter.

The value of EDS's signed contracts decreased to $6.2 billion this quarter from $7 billion in the second quarter of 2001. But chairman and CEO Dick Brown says contracts are being delayed, not canceled.

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