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CSC posts 30 per cent Q4 revenue increase

CSC posts 30 per cent Q4 revenue increase

Outsourcing and services company, Computer Sciences Corp (CSC), boosted revenue by 30 per cent to $US4 billion in the fourth fiscal quarter of 2004.

It posted just over $US3 billion in revenue during the same period a year earlier.

Higher revenue was only part of the good financial news for the company. Net income for the quarter, which ended April 2, was $US190.6 million, up from $US162.7 million a year earlier.

For all of fiscal 2004, CSC brought in $US14.7 billion in revenue, compared with $US11.3 billion in the previous fiscal year, according to the company.

Net income for the full fiscal year was $US519.4 million, up 18 per cent from the $US440.2 million in net income in fiscal 2003.

Earnings per share for Q4 were $US1.02 basic and $US1.01 diluted, compared with $US0.93 basic and diluted one year earlier. Earnings per share for the full fiscal year of 2004 were $US2.77 basic and $US2.75 diluted, compared with $US2.55 basic and $US2.54 one year earlier.

“We are very pleased with our fourth quarter and fiscal 2004 results,” CSC chairman and CEO, Van B Honeycutt, said. “We have delivered strong performance and gained market share during another challenging year for the information technology services market.”

The higher revenues and earnings were the result of increased business with the US federal government, as well as increased outsourcing services and business acquisitions, including the purchase of DynCorp, CSC said.


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