Computer Sciences Tops Lowered Estimates, but Guides Down

Computer Sciences(CSC Quote) beat Wall Street's dramatically lowered earnings estimates for the fiscal fourth quarter by a penny, but the company guided downward for the upcoming period.

In the latest quarter, the information technology services company earned $61.3 million, or 36 cents a share, before special items. Fourteen analysts polled by Thomson Financial/First Call expected the company to earn 35 cents in the period. In February, the company projected earnings of 92 cents to 95 cents for the quarter, but a month later tore those numbers down to a range of 35 cents to 37 cents a share. The company earned 84 cents a share in the year-ago period.

Revenue rose 12.5% from last year to $2.9 billion. ...