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Computer Sciences Beats Estimates

It guides full-year earnings in line.
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A big gain lifted fourth-quarter earnings at

Computer Sciences

(CSCKL)

above year-ago levels, and the company's operating profit came in above estimates.

Computer Sciences earned $411.8 million, or $2.13 a share, in the quarter, compared with $190.6 million, or $1.01 a share, a year ago. Income from continuing operations in the latest quarter was $166.6 million, or 86 cents a share.

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Before a gain, the company earned a total of $1.04 a share from continued and discontinued operations. Backing out a charge of 5 cents a share, the company's earnings came out to $1.09 a share, 2 cents better than estimates.

Sales were $3.88 billion in the most recent quarter, compared with $3.59 billion a year ago.

For the first quarter, Computer Sciences expects earnings in the "mid-50 cent range" on revenue of about $3.5 billion. The Thomson First Call consensus is 60 cents a share on sales of $3.51 billion.

For the year, the company sees earnings of $3.20 to $3.30 a share on sales of $15 billion to $15.2 billion. Analysts were forecasting $3.25 a share on sales of $14.84 billion.

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