EDS Takes Another Hit - InformationWeek
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10/27/2004
04:44 PM
Paul McDougall
Paul McDougall
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EDS Takes Another Hit

On Monday, EDS said it would delay its third quarter earnings announcement until November 3rd. It seems the company is mulling whether to write down some assets related to its NMCI Intranet contract.

On Monday, EDS said it would delay its third quarter earnings announcement until November 3rd. It seems the company is mulling whether to write down some assets related to its NMCI Intranet contract.Analysts are mixed on how big a financial hit EDS may take--one Wall Streeter thinks they may have to acknowledge that the NMCI deal may never be profitable. The real upshot, others say, is that it's another message to investors and IT services buyers that EDS' house is not yet fully in order. Former CBS chief Micheal Jordan has been on board for about 18 months, and some wonder how long he needs--or will get--to turn things around. EDS did get a nod of approval from investors this week--when it announced plans to reduce U.S. headcount by 9,200 through a buyout program . The Street likes its companies lean and mean so news of the Comprehensive Workforce Management Initiative, as EDS, calls it, gave the stock a bit of a lift.

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