CSC Posts Strong Second Quarter

Net income rises 21% on a 9% revenue increase.

Paul McDougall, Editor At Large, InformationWeek

November 9, 2004

1 Min Read

Government and commercial IT contractor Computer Sciences Corp. posted solid gains in sales and profits for its fiscal second quarter, the company said Tuesday.

In the three months ended Oct. 1, CSC's revenue increased 9% to $3.93 billion, while net income rose 21% to $130.5 million or 68 cents per share. During the quarter, CSC booked $3.9 billion in new contracts, the company said.

The company benefited from strong defense and homeland security-related spending by the federal government, said CSC chairman and CEO Van Honeycutt in a statement. "We are well positioned to capitalize on the growth of IT services within the federal government," Honeycutt said.

Looking ahead, CSC said it expects to meet earlier guidance for its current fiscal year. The company is projecting revenue of $16.25 billion and per-share earnings between $3.10 and $3.20 in fiscal 2005.

About the Author(s)

Paul McDougall

Editor At Large, InformationWeek

Paul McDougall is a former editor for InformationWeek.

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