Electronic Data Systems Corp, or EDS, is now estimating that its second quarter earnings per share will be in the range of $0.43 and $0.45, between five and cents per share worse than First Call had predicted. But that amount is before a previously announced, but uncosted restructuring charge. The computers services giant yesterday put a figure on it of anywhere between $100m and $250m. The top end of that charge, together with the top end earnings estimate would put the company into the red for the quarter by about $30m. The company has been having a torrid time of late, recently complaining that it cannot predict when it is going to close its sales, making for very lumpy and somewhat unpredictable quarters (CI No 3,111). EDS says it remains confident it can hit its previous earnings per share estimates for the year of between $2.30 and $2.35, again before the charge.
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