CSC reports rise in sales and profit

CSC reported increased profit and steady sales in the first quarter of its financial year, increasing revenue to $3.94bn, compared to $3.9bn...

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CSC reported increased profit and steady sales in the first quarter of its financial year, increasing revenue to $3.94bn, compared to $3.9bn for the same period last year.

The IT services provider also improved profit with an increase in earnings-per-share from $0.85 per share last year to $0.91 per share.

"Although our businesses are impacted by the overall sluggish recovery and to a lesser extent government spending, we have a very robust backlog and I remain optimistic that we will realise meaningful growth beginning in the second half of our fiscal year," said CSC CEO Michael Laphen.

The company also confirmed guidance of revenue in the range of $16.8bn to $17.2bn for the fiscal year ending March 2011.

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