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February 10, 1997updated 05 Sep 2016 12:54pm

ELECTRONIC DATA SYSTEMS RELISHES FREEDOM

By CBR Staff Writer

The spin-off of Plano, Texas-based Electronic Data Systems Corp from General Motors Corp didn’t come cheap, leaving the company with $895.5m in charges for the year, but it is now free to concentrate on what it is best at. Worldwide, the information technology services and management consulting industries are very robust, and there is strong growth in the markets that we serve, said chairman Les Alberthal. The shares rose 62.5 cents to close at $46.625 on the New York Stock Exchange on Thursday; they have been weak as analysts fretted that it was winning insufficient new business to plug the General Motors hole. It expects its revenue to grow in the high single digits for the current quarter.

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