logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Canadian power company Emera has agreed to buy Teco Energy Inc for $27.55 per share in cash as part of efforts to expand into Florida and New Mexico. The announcement sent Teco shares surging 28 percent in after-hours trade on the New York Stock Exchange. Xiaomi Corp., nicknamed the "Apple of China" is planning to launch laptops, a report by Bloomberg said. The Chinese brand has been pausing a direct challenge to major smart phone brands in Asian markets in the recent years. It has planned to win over China, India and Brazil markets those together would account for one third of the worldwide sales. Value-priced fashion apparel and accessories retailer Cato Corp. (CATO) Thursday announced a four percent increase in comparable store sales for August. Sales were for the four week period was up five percent to $67 percent from $63.6 million last year. For the thirty weeks ended August 29, the...
comments powered by Disqus
RELATED NEWS
Trade CSC now with 
Follow RTT