Market Overview

Computer Sciences Corporation Dives in the After-Hours


Shares of Computer Sciences Corporation (NYSE: CSC) are falling in the after-hours trade following the release of its preliminary Q4 earnings results. Currently, shares are lower by 5.62%, trading at $41.61; they closed the regular session higher by 1.36%, at $44.09.

Computer Sciences Corporation reported preliminary Q4 EPS of $1.09 on revenues of $4.2 billion. This compares to the fourth quarter of last year, when CSC reported EPS of $1.66 on revenues of $4.20 billion.

Computer Sciences Corporation sees FY 2012 EPS in the range of $4.70-4.80 on revenues of $16.5-17.0 billion.

"The preliminary fourth quarter results are in-line with our updated guidance issued on May 2," said Michael W. Laphen, CSC Chairman, President and Chief Executive Officer.

"Although Fiscal Year 2011 was challenging given the NHS uncertainty, the unexpected difficulties in the Nordics and the delays in the Federal budgets, I am pleased with the sequential and year over year revenue growth achieved in our commercial business. Excluding the challenges, our business performed as expected in terms of operating margin and free cash flow."

Computer Sciences Corporation is engaged in information technology and professional services industry. CSC offers an array of services to clients in the commercial and government markets and specializes in the application of complex IT.

Posted-In: Options


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