EDS net falls, operating income tops estimates

Article Abstract:

Electronic Data Systems Corp. reported earnings of $42.7 mil, compared to Q4 1998 earnings of $142.2 mil. Q4 Revenues were $4.88 bil in 1999; $4.41 bil in 1998. The company took a $422.2 mil charge for the quarter, cutting 7,100 postitions. Operating margins have risen to 9.7% from 8.7% a year earlier. EDS's contract backlog increased from $40 bil to $60 bil over the year.

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EDS reports earnings about forecasts

Article Abstract:

Electronic Data Systems Corp. reports third-quarter net income higher than estimates, but flat revenue for second quarter in a row. Net income rose to $278.7 million, beating estimates, despite the Euro-related currency downturn that adversely affected sales. EDS Chairman Richard H. Brown sees operating margins of 105 in the fourth quarter, up from 9.7% in third quarter.

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Computer Sciences issues profit warning

Article Abstract:

Computer Sciences Corp. announced that due to decreasing demand for its services, and cost overruns, its fourth-quarter earnings will be below forecasts, and it will have losses. Experts said the size of the profit shortfall took them aback. CSC will let go of about 1% of its work force, and take a charge of up to $150 million.

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