Computer Sciences Revenue Up Nearly a Third

Strong sales to the federal government helped the IT services company's second quarter.
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Led by strong sales to the federal government,

Computer Sciences

(CSC)

increased second-quarter revenue by nearly one-third, the company said after the bell Tuesday.

Net income was $108.1 million, or 57 cents per diluted share, after a $5.7 million charge related to an acquisition. Without the charge, the IT services company would have earned 60 cents a share, a penny better than Wall Street expected.

Revenue in the quarter ending Oct. 3 (the second of fiscal 2004) was $3.59 billion, slightly better than analysts polled by Thomson First Call had forecast, and up 32% from $2.73 billion last year.

Looking forward to the third fiscal quarter, CSC expects earnings per share to range from 68 cents to 70 cents a share on sales of about $3.6 billion, the El Segundo, Calif., IT services company said in a statement. Analysts were expecting 70 cents a share on sales of $3.6 billion.

The report pushed CSC shares up $1.21, or 3%, to $42 in after-hours trading. CSC closed the regular trading day off 16 cents.