logo
Plus   Neg
Share
Email

CSC Provides Preliminary Update For Q4 And FY12 - Quick Facts

Computer Sciences Corp. (CSC) said Tuesday that it expects fourth-quarter GAAP loss to be in the range of $0.92 - $0.96 per share, adjusted net income of about $0.19 - $0.21 per share, revenues of about $4.1 billion and New Business Awards of about $6 billion. Analysts polled by Thomson Reuters expect the company to report earnings of $0.97 per share on revenues of $4.11 billion for the fourth-quarter. Analysts' estimates typically exclude special items.

Looking ahead for fiscal 2012 ended March 30, 2012, the company also expects GAAP loss to be in the range of $27.27 to $27.31 per share, adjusted net income of about $2.45 to $2.49 per share, revenues of about $15.9 billion, and new business awards of $19 billion. Analysts expects the company to report earnings of $4.30 per share on revenues of $16.00 billion for fiscal 2012.

On December 27, 2011, the Company announced a material impairment of its net investment in the UK National Health Service (NHS) contract and at the same time, withdrew its guidance for its fiscal year 2012. Given the uncertainty surrounding the future of the NHS contract, the Company said it was not in a position to reasonably estimate fiscal 2012 financial performance.

On March 5, 2012, the Company announced that it had signed a non-binding letter of intent with the NHS that provided a framework upon which the contract could continue. The parties targeted the completion of a binding interim agreement on or before March 31, 2012.

On April 4, 2012, the Company announced that the parties had not reached a binding agreement and that discussions are continuing.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT