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CSC profits down, but hopes up

CSC reported a fall in profits for its latest quarter, but a rise in sales for the final three months of the financial year sets the scene for the company to grow next year.

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CSC reported a fall in profits for its latest quarter, but a rise in sales for the final three months of the financial year sets the scene for the company to grow next year.

The outsourcing services provider made $264m (£184.8m) in the quarter ended April 2010, compared to $383m (£268) in the same period a year ago. But revenue was up to $4.23bn (£296bn) from $4.11bn (£287bn) in the same quarter a year ago.

Total revenue for the full year ended April 2010 was down to $16.1bn (£1.12bn) from $16.7bn (£1.16bn) in the previous 12 months.

"Our fourth quarter revenue reflects a sequential increase of 7%, and that, coupled with the $19.2bn (£13.4bn) of new business awards, positions us for a return to growth in Fiscal Year 2011," said CSC CEO Michael Laphen.

"As the world economies gradually improve, our financial strength, market position, and innovative solutions will stimulate expansion across our three lines of business."

CSC recently won a contract to handle the Transportation Security Administration's (TSA) information-technology system, which could be worth $489m (£342m) over five years. The TSA looks after the security of US airports and railways.

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