CSC tops revenue and earnings expectations

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CSC tops revenue and earnings expectations

Computer Sciences has exceeded its earnings and revenue expectations in its 2004 second quarter.

CSC reported net income of $108.1m (£64m) during the quarter ending 3 October, a growth of 16% compared with last year.

Revenue came in at $3.59bn (£2.1bn), slightly above analysts' expectations of $3.51bn.

CSC's acquisition of DynCorp boosted the company's US federal government revenue, which almost doubled to $1.52bn (£903m) compared with last year's second quarter.

CSC expected its sales to the US federal government to continue being strong in the short term, especially to the US Department of Defense.

All other revenue not generated by US federal government sales grew 6.3% to $2.07bn. Within this segment, US revenue fell 1.9%, while European revenue rose 21.1%.

CSC expects to close the third quarter, which ends on 2 January, with revenue of about $3.6bn.

Juan Carlos Perez writes for IDG News Service


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