CSC Reports Strong Fourth Quarter Results

New Delhi, India (PressExposure) May 21, 2009 -- Q4 Highlights

• Positive top line growth for the quarter. Revenue of $4.11 billion, down 8.3% (up 0.4% in constant currency) over same quarter last year

• Operating income of $447 million, net income of $382 million EPS of $2.51 including $1.11 of tax benefits and a goodwill impairment charge of $0.12.

• Record breaking free cash flow of $850 million

• Operating margin of 10.9%, a 85 basis-point improvement over the prior year.

• $3.5 billion in new bookings for the quarter

FY09 Full Year Highlights

• Positive top line growth for FY09. Revenue of $16.74 billion, up 1.5% (up 4.3% in constant currency) year over year (slightly below guidance)

• Net income of $1,115million

• Operating margin of 8.25%, a year-over-year improvement of 27 basis points

• EPS of $7.31 including $3.36 of tax benefits and a goodwill impairment charge of $0.12, meeting guidance

• Free cash flow of $1,021 million, compared with $175 million in FY08

• Revenue growth by industry vertical compared to last year, in constant currency: - Healthcare, up 30% PS up 4%, FSS flat, CENR up 5% and MFG up 2%

- TCM down 2%

• By lines of business, CSC reported revenues of:

- $4.41 billion for BS&S, up 11.9% year over year in constant currency - $6.46 billion for GOS, up 0.3% year over year in constant currency - $5.98 billion for NPS, up 3.4% year over year in constant currency

• New bookings of $16.2 billion, slightly below guidance, a 4% increase over last year

- $7.3 billion from NPS - $4.5 billion from BS&S - $4.4 billion from GOS

• Successful execution and delivery of all NHS key milestones and receipt of associated payments

• Remediation of material weakness associated with tax accounting

• FY10Guidance/Outlook: Revenue in the $16 - $16.5 billion range and EPS in the $4.20 to $4.30 per share range, and free cash flow to be in a range of 90%-100% of net income.

About Mutual PR

CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & Services, Global Outsourcing Services and the North American Public Sector. CSC's advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 92,000 employees and reported revenue of $17.1 billion for the 12 months ended Jan. 2, 2009. For more information, visit the company's Web site at

Press Release Source:

Press Release Submitted On: May 21, 2009 at 3:48 am
This article has been viewed 9046 time(s).