| | Electronic Data Systems,
the world's
second-largest
technology services
company, has reported a
five-time increase in
quarterly profit, which
reached $164m, or 31
cents per share, from
$24m, or 5 cents per
share, a year earlier.
Net income advanced
to $164m, or 31 cents
per share, beating
analysts' expectations,
from $24m, or 5 cents
per share, a year
earlier, while revenue
rose to $5.22bn from
$5.08bn.
| |
| |
| | by the recognition of a
portion of a previously
disclosed contract
termination payment.
"EDS' continued
improvement in earnings
reflects traction in our
key initiatives," said
president and chief
operating officer Ron
Rittenmeyer. "Despite
what appear to be softer
market conditions, EDS'
signings were solid. The
quarter reflected
specific expansion
activities in our Best
Shore delivery network;
marked increases in
quality assurance | |
|
| | metrics; and, most
significantly, momentum
and strength in our
applications business
where we continue to
grow."
EDS signed $3.4bn in
contracts in the first
quarter of 2007 versus
$10bn in the year-ago
quarter, which included
$3.6bn with General
Motors and $3.9bn with
the US Department of the
Navy. EDS signed seven
deals in the first
quarter of 2007 with
contract values greater
than $100m with clients
in the communications, | |
|
| | consumer goods and
retail, financial
services, and
manufacturing
industries.
EDS said it expects
second-quarter earnings
per share before items
of 22 cents to 27 cents
and revenue of $5.3bn to
$5.5bn. The company
reaffirmed its full-year
forecast for earnings
per share before items
of $1.55 to $1.60 and
revenue of $22.0bn to
$22.5bn.
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