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

Editors Pick
Semiconductor packaging company Amkor Technology Inc. (AMKR), Monday reported a plunge in profit for the second quarter, as revenues declined and margins narrowed. The bottom line was also impacted by a debt extinguishment charge. Shares of the company fell about 14 percent in extended hours after... Hartford Financial reported a swing to profit for the second quarter, helped mainly by improved underwriting results in property and casualty business, and contribution from Talcott Resolution, while the prior year included a one-time loss from discontinued operations. Hartford's quarterly earnings easily topped Wall Street estimates... Chinese internet-search giant Baidu Inc. (BIDU), Monday reported an increase in profit for the second quarter, as revenues jumped a near 40 percent, with both earnings and revenues trumping Street estimates. However, Baidu shares plunged over 8 percent in after-hours trade on the Nasdaq, after its...
comments powered by Disqus
RELATED NEWS
Trade CSC now with 
Follow RTT