Following its FQ1 beat, CSC is still targeting FY15 (ends March' 15) EPS from continuing ops of $4.35-$4.55; consensus is at $4.49.
Global business services revenue -3% Y/Y in FQ1 to $1.09B, with $1.2B in contract awards Global infrastructure services +1% to $1.13B, with $1.2B in contract awards. North American public sector -3% to $1.02B, with only $300M in contract awards.
Op. margin fell to 7.7% from 8.3% a year ago. Free cash flow was $70M, below net income of $146M. $148M was spent on buybacks.
CSC has also announced it's expanding an existing partnership with IBM, with a focus on providing new cloud, mobile, and big data/analytics offerings. Among other things, CSC will create a "center of excellence" for IBM offerings, and integrate its ServiceMesh Agility cloud management platform with Big Blue's SoftLayer cloud infrastructure (IaaS) platform.
FQ1 results, PR