| EDS finally makes a profit but consulting revenues remain stalled |
| |
|
| | The restructuring of
problem contracts along
with initiatives to
lower costs helped EDS
return to profit in the
first quarter of 2005 -
despite an ongoing fall
in revenues.
Consulting subsidiary
A.T.Kearney saw revenues | |
|
| | fall 12%, which explains
why management buyout
rumours have surfaced in
the last months.
EDS reported a net
income of $4m, or 1 cent
a share, in the first
quarter - compared to a
loss of $12m, or 2 cents
a share previously. | |
|
| | Revenues stood at
$4.94bn, down 5 per cent
- while organic revenues
declined by 8 percent.
A.T.Kearney, the
management consulting
subsidiary, posted an
$11m operating loss on
revenues down 12 per
cent to $204m.
| |
|
| |
Mike Jordan, chief
executive, said EDS "got
off to a strong start"
to the year and remained
"on track to deliver on
our long-term turnaround
goals".
The group won new
business of $7.1bn in
the quarter, up from | |
|
| | $3.8bn, including a
previously announced
$3.85bn contract with
the UK Ministry of
Defense. Excluding the
MOD deal, the value of
new contracts declined
by 19 per cent.
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