FinancialContent is the trusted provider of stock market information to the media industry.
By: Dividend Daily
May 17, 2012 at 10:48 AM EDT
Computer Sciences Posts “Poor” Q4 Results; Says Turnaround in the Works (CSC)
Information technology specialist Computer Sciences Corporation (CSC) on Thursday posted what its CEO called “poor” first quarter earnings results, but promised a turnaround plan is in place to improve its performance.
The Falls Church, VA-based company reported fourth quarter net income of $158 million, or $1.02 per share, compared with $171 million, or $1.09 per share, in the year-ago period.
Revenue fell 2% from last year to $4.1 billion.
On average, Wall Street analysts expected a net profit of 20 cents per share, on matching revenue of $4.1 billion.
CEO Mike Lawrie commented in a statement, “We consider these results to be very poor. The company is executing well below an acceptable level for CSC and its investors.” However, he added “Our company is in a turnaround situation and we are taking the first steps [in a turnaround].”
Computer Sciences shares fell 21 cents, or -1%, in morning trading Thursday.
The Bottom Line
Computer Sciences Corporation (CSC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here