, a Calabasas-based technical services supplier, reported net income of $734,000 (8 cents per diluted share) for the first quarter ended April 30, compared with $533,000 (6 cents) for the like period a year earlier. Revenues were essentially flat from the year-ago period, at $27.5 million.
- Computer Sciences Corp. said it will buy the 26 percent of CSA Holdings Ltd. of Singapore it doesn't already own for $42.7 million. Computer Sciences said it would offer about $1.22 per CSA share to all shareholders, other than itself. The offer price represents a premium of about 49.6 percent over CSA's last trading price of 82 cents on June 7, when its shares were last traded on the Singapore stock exchange. The El Segundo-based computer services company owns about 97.8 million shares of CSA's 132.8 million shares. Once the deal is complete, CSA will become a wholly-owned subsidiary of Computer Sciences and will be delisted from the Singapore stock market.
- The Walt Disney Company awarded Affiliated Computer Services a 7-year, $610 million contract to manage Disney's networks and software. The Dallas-based company will provide Disney with IT infrastructure services for its global data network, antivirus and help desk services, and will handle desktop computer management, Affiliated Computer said in Securities and Exchange Commission filing.
- CB Richard Ellis Group, Inc. announced the formation of a new specialty finance company that will focus on managing a portfolio of commercial real estate-related loans and securities. The company, called CBRE Realty Finance, Inc., raised proceeds of $300 million through the sale of 20 million shares of common stock to investors. CB Richard Ellis Group, Inc. has a 5 percent stake in the new company. Ray Wirta, vice chairman of CB Richard Ellis Group, Inc., will also serve as chairman of the board of CBRE Realty Finance, Inc.
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