BSS revenue increases to $981m
CSC has reported total revenues of $4.2bn for the fourth quarter of 2011, a marginal increase of 0.024% from the same quarter prior year.
The company said that BSS revenue increased to $981m from $971m, MSS revenue increased to $1.75bn from $1.69bn, while revenue from North American public sector decreased to $1.5bn from $1.6bn for the same period last year.
The company’s income before income taxes was $282m for the fourth quarter of 2011 compared to $298m for the same period last year.
For the quarter ended 1 April 2011, the company posted net income of $175m, or $1.09 per share, compared to $264m, or $1.66 per share, for the same period last year.
For the fiscal year 2011, the company’s revenue increased to $16.04bn, compared to $15.92bn for the previous fiscal year.
Income from continuing operations before taxes and net income decreased to $968m and $759m respectively, compared to $1.02bn and $834m for the previous fiscal year.
CSC chairman and CEO Michael Laphen said the preliminary fourth quarter results are in-line with their updated guidance issued on 2 May.
"Although Fiscal Year 2011 was challenging given the NHS uncertainty, the unexpected difficulties in the Nordics and the delays in the Federal budgets, I am pleased with the sequential and year over year revenue growth achieved in our commercial business," Laphen said.
The company expects new business bookings to cross $17bn, and revenue to range between $16.5bn and $17.0bn, for the fiscal year 2012.