The 25 largest technology companies in Los Angeles County saw their revenues in 2002 decline by 0.5 percent, to $29.8 billion from the $29.9 billion recorded in 2001.
The Business Journal has focused this year's list on companies that derive the majority of their revenues from hardware and software development and sales. Companies on last year's list that did not meet this criterion included Northrop Grumman, Panavision, Amgen Inc., DaVita Inc. and Diagnostic Products Inc.
Fourteen companies reported revenue declines from 2001, but revenues at three companies were up substantially.
No. 2 Hughes Electronics Corp. posted a $670.9 million increase, to $8.9 billion, as a result of more subscribers to its DirecTV service and cost savings from restructuring.
No. 8 Overture Services Inc. increased its revenues more than 130 percent last year, to $667.7 million in 2002 from $288.1 million. This is likely to be Overture's last appearance on the list, having agreed to be purchased by Yahoo Inc. in a $1.6 billion cash and stock deal.
United Online saw its revenues jump nearly 200 percent, to $167.5 million in 2002 from $57.2 million in 2001.
Computer Sciences Corp.
Tomputer Sciences Corp. claims the title of largest technology in L.A. County, as ranked by 2002 revenues, exceeding the next closest firm by $2 billion. The El Segundo-based company posted revenues of more than $11.3 billion for the year ended March 31.
Founded in 1959, Computer Sciences runs data centers and provides information technology support to customized software systems. The company also provides management and information technology consulting.
CSC reported net income of $440.2 million for the year ended March 31, up from $344.1 million a year earlier. The increase was attributed to lower costs of services, which decreased by 1.3 percent to $9.1 billion, as well as a decrease in selling, general and administrative expenses.
Deriving 71 percent of its revenues from non-government operations, CSC saw revenues in that area declined by 6 percent, or $504.8 million, to $8 billion.
The balance of revenues came from contracts with the federal government. Revenues from that sector increased by 17 percent, to $3.3 billion, boosted in large part by the acquisition of DynCorp in March.
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