Seeking Alpha

Computer Sciences raises guidance, shares +5.6% AH

  • Computer Sciences' (CSC) FY14 (ends March '14) EPS guidance range has been raised by $0.20 to $3.50-$3.70, largely above a consensus of $3.52.
  • FQ1 EPS boosted by restructuring moves. Cost of services -17% Y/Y vs. an 11% Y/Y revenue drop.
  • Free cash flow was still -$9M, though that's better than the year-ago period's -$25M. EBIT margin was 7.4%, up from just 2% a year ago.
  • Cash/equivalents stood at $1.93B at quarter's end.
  • $127M spent on buybacks.
  • FQ1 results, PR
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