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May 20, 2009

Computer Sciences Q4 revenues down 8%

Computer Sciences Corporation (CSC), a provider of consulting, systems integration and outsourcing services, has reported revenues of $4.11 billion for the fourth quarter of fiscal 2009, a decrease of 8.3% compared to revenues of $4.48 billion for the same period of fiscal 2008.

By CBR Staff Writer

For full year fiscal 2009, the company reported revenues of $16.74 billion, an increase of 1.5% compared to revenues of $16.50 billion for fiscal 2008.

The company also reported net income of $382m, or $2.51 diluted earnings per share for the fourth quarter of fiscal 2009, compared to $181.7m, or $1.15 diluted earnings per share for the same period of fiscal 2008.

For full year fiscal 2009, the company’s net income was $1.12 billion, or $7.31 diluted earnings per share compared to net income of $544.6m, or $3.20 diluted earnings per share for fiscal 2008.

For the fiscal year 2010, CSC expects to generate revenue in the $16 billion to $16.5 billion range and earnings per share in the $4.20 per share to $4.30 per share range.

Michael W Laphen, chairman and CEO of CSC, said: Fourth quarter 2009 was another successful and important step in our march to consistent results and continuous improvement.

“Despite the challenging economic environment, CSC’s achievements included exceptional cash generation, realization of our full-year goal of at least a 25 basis points margin rate improvement, successful execution and delivery of the National Health Service (NHS) milestones, and remediation of a material weakness associated with our tax accounting.

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