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
The Federal Communications Commission or FCC will not take any action against CBS Corp.'s "Late Show with Stephen Colbert" despite receiving thousands of complaints about the talk show comedian's controversial joke about President Donald Trump. The U.S. government filed a civil lawsuit on Tuesday against Fiat Chrysler Automobiles, accusing the automaker of installing software in more than 100,000 diesel vehicles to cheat emission controls. The lawsuit alleges that Fiat Chrysler equipped nearly 104,000 light duty diesel vehicles containing 3.0 liter EcoDiesel engines with software functions that were not disclosed to regulators. A college degree is a necessity for a rewarding, well-paying job with possibility for career advancement and also for entry into most professional careers. On average, college graduates earn much more than high school graduates throughout their lifetime. In addition to the earnings potential, students...
comments powered by Disqus
Follow RTT