CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & Services, the Managed Services Sector and the North American Public Sector. CSC’s advanced capabilities include system design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. The company has been named by FORTUNE Magazine as one of the World’s Most Admired Companies for Information Technology Services (2010). CSC has approximately 94,000 employees and reported revenue of $16.1 billion for the 12 months ended April 2, 2010.
Highlights for the Quarter and Full Year include:
•Fourth quarter fiscal 2010 revenue is $4.2 billion and fully diluted earnings per share (EPS) is $1.66 compared to fourth quarter fiscal 2009 revenue of $4.1 billion and EPS of $2.51.
•For the full year, revenue was $16.1 billion (compared to $16.7 billion for the previous year), and EPS was $5.28 (compared to $7.31 for the previous year).
•New business awards of $4.3 billion for the quarter and $19.2 billion for the year, an annual increase of 18.5% and compares favorably to the latest guidance of $19 billion.
•Pre-tax margin of 7.13% for the quarter and 6.44% for the year, a 72 basis point improvement from the previous year.
•Operating margin of 10.10% for the quarter and 8.75% for the year, a 50 basis point improvement from the previous year.
•Operating cash flow of $1,237 million for the quarter and $1,643 million for the year.
•Free Cash Flow of $951 million for the quarter and $811 million for the year.
Guidance:
For fiscal year 2011, the company anticipates bookings in excess of $18 billion, revenue in the range of $16.8 billion to $17.2 billion (an increase of 4% to 7%) and operating margin between 9% and 9.25%, representing a further increase of 25 to 50 basis points. EPS is projected to be in the $5.30 to $5.40 range, representing an increase of approximately 20% when normalized for tax rate. Free Cash Flow is forecast to be in excess of 90% of net income attributable to CSC common shareholders.
http://www.csc.com/investor_relations/press_releases/46534-csc_reports_fourth_quarter_results