Computer Sciences Corporation (NYSE:CSC) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Computer Sciences Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $1.27 in the quarter versus EPS of $-0.14 in the year-earlier quarter.
Revenue: Decreased 10.14% to $3.7 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Computer Sciences Corporation reported adjusted EPS income of $1.27 per share. By that measure, the company beat the mean analyst estimate of $0.99. It missed the average revenue estimate of $3.86 billion.
Quoting Management: “During fiscal 2013, CSC delivered on its commitments and made significant strides in transforming our company. We returned to profitability and exceeded our targets for cost takeout, operating margin expansion, EPS and free cash flow growth. We are making significant investments in our business – employees, offerings, systems, and partnerships – designed to enhance our competitive position and long-term earnings growth. And we returned $428 million to shareholders through share repurchases and dividends,” said Mike Lawrie, president and CEO. “For fiscal year 2014, our plans include continued cost takeout, investing in our people, expanding market coverage, pursuing delivery excellence and driving innovation with our clients.”
Key Stats (on next page)…