Computer Sciences Earnings In Line With Expectations
Computer Sciences
(CSC)
reported second-quarter earnings that met analysts expectations, citing continued strong revenue growth from its U.S. federal government, commercial outsourcing and Asia-Pacific activities.
The consulting and information technology firm earned $109 million, or 64 cents a share, compared with $93.1 million, or 55 cents a share, in the same period last year. A
First Call/Thomson Financial
poll of 12 analysts expected earnings of 64 cents a share.
Revenue for the quarter was $2.5 billion, up 12% from $2.2 billion a year earlier.
The El Segundo, Calif., company also said it received a seven-year, $3 billion contract from
Nortel Networks
TheStreet Recommends
(NT)
; a five-year, $225 million contract from the
U.S. Air Force Space and Missile Systems Center
; and a five-year, $329 million contract from the
Federal Aviation Administration
during the second quarter.
Shares of Computer Sciences closed higher by 5%, or $3.13, to $65.94 in
New York Stock Exchange
trading.
