First Quarter is Soft for CSC

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Computer Sciences Corp. reported a first quarter loss of $55.3 million (29 cents per share), compared to $131.6 million (71 cents), from the same period a year earlier. Revenue for the El Segundo-based computer services company was flat $3.56 billion.


The company said that growth in U.S. government service sales, as well as its Asian and Australian sectors, was erased by declines in commercial revenue in the U.S. and Europe markets.


“Our U.S. federal government activities for the quarter delivered good growth as we continue to exhibit a leadership role in the federal information technology services market,” said Chairman and Chief Executive Van B. Honeycutt. “We continue to be encouraged by the strong revenue growth reported by our operations in Australia and Asia.”


Shares of Computer Sciences were down 1.7 percent to $51.50 in trading on the New York Stock Exchange.

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