| | 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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