Computer Sciences Corp Earnings Cheat Sheet: Beats Wall Street Expectations

S&P 500 (NYSE:SPY) component Computer Sciences Corporation (NYSE:CSC) reported net income above Wall Street’s expectations for the first quarter. Computer Sciences Corporation offers information technology and professional services to commercial and government markets, specializing in the application of complex IT problems.

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Computer Earnings Cheat Sheet for the First Quarter

Results: Net income for Computer Sciences Corporation rose to $183 million ($1.17 per share) vs. $143 million (91 cents per share) in the same quarter a year earlier. This marks a rise of 28% from the year earlier quarter.

Revenue: Rose 3% to $4.03 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: CSC beat the mean analyst estimate of 70 cents per share. Analysts were expecting revenue of $3.99 billion.

Quoting Management: “This quarter’s margin results were adversely affected by performance within the Managed Services Sector (NYSE:MSS). Improvement actions are underway within this business,” said Michael W. Laphen, CSC Chairman, President and Chief Executive Officer. “Our other two lines of business delivered results essentially in line with our expectations. I am particularly encouraged by the revenue growth in Business Solutions & Services (BSS) which we’ve identified as our growth platform. We are very pleased to have closed our acquisition of iSOFT with its depth of quality healthcare resources and clients.”

Key Stats:

The company topped expectations last quarter after falling short of forecasts in the fourth quarter of the last fiscal year with net income of $1.01 versus a mean estimate of net income of $1.28 per share.

The increase in profit last quarter comes after net income fell in the previous quarter. In the fourth quarter of the last fiscal year, net income declined 34% to $171 million.

Competitors to Watch: Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), SAVVIS, Inc. (NASDAQ:SVVS), Cognizant Tech. Solutions Corp. (NASDAQ:CTSH), TeleTech Holdings, Inc. (NASDAQ:TTEC), WidePoint Corporation (AMEX:WYY), Syntel, Inc. (NASDAQ:SYNT), Rackspace Hosting, Inc. (NYSE:RAX), Unisys Corporation (NYSE:UIS), and Zanett, Inc. (NASDAQ:ZANE).

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(Source: Xignite Financials)