- Diluted EPS of $0.83 per share included a workforce restructuring charge of $58 million, or $0.25 per share.
- Operating income of $298 million was compared with an operating loss in the year ago period.
- Operating margin of 7.7% increased compared with -1.9% a year ago and 4.6% in the prior quarter. Excluding the impact of a $269 million U.S. Claims settlement in the prior year, operating margin improved by 289 basis points.
- Operating cash flow of $444 million for the quarter, improved by $438 million from the previous year.
- Free cash flow of $237 million for the quarter improved by $505 million compared to the previous year, as the result of better contract management, cost takeout, and the benefit of the NHS Interim Agreement.
- The company raised $700 million of senior unsecured notes and secured commitments for a new $250 million bank term loan. Funds from these financings were used to redeem maturing debt in October, 2012.
- Ending cash and cash equivalents were $1.85 billion.
CSC (NYSE: CSC) today reported second quarter 2013 diluted earnings of $0.83 per share, compared with diluted EPS of $(18.56) in the second quarter 2012 which included a goodwill impairment charge of $18.21 per share and a U.S. Claims settlement of $1.20 per share. Total revenues were $3.85 billion compared with $3.97 billion in the year ago period, a decrease of 3% as reported and a 1% decline in constant currency. Financial Highlights