CSC Delays Earnings

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Computer Sciences Corp. said Thursday that second-quarter profit fell 6.9 percent and that it would delay filing its full financial reports citing a continuing probe of past stock option grants.


Profit for the El Segundo-based information technology services provider was slightly down to $93 million from $99.5 million for the same period a year earlier. The share price rose to 53 cents from 52 cents.


Company officials said that a cost-cutting restructuring that would cut about 5,000 jobs, mainly in Europe, was on track and that the cost of the move to this point are $255.2 million.


The Securities and Exchange Commission and Justice Dept. began their investigations in early August. CSC said it would file a full second-quarter financial report as soon as it can after completing the options review.


Shares in CSC closed up 19 cents Thursday to $53.07.

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