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By Laton McCartney

Computer Sciences Corp.(CSC), the Falls Church, Virginia-based the consulting, outsourcing and systems integration firm, ended its 2009 fiscal year on a strong positive note, thanks in part to a strong forth quarter.

The firm reported fourth quarter 2009 fully diluted earnings per share (EPS) of $2.51, compared with fourth quarter 2008 EPS of $1.15. For the full year, EPS was $7.31 compared with $3.20 in fiscal year 2008.

Operating cash flow was $1,058 million for the fourth quarter and $1,986 million for the full year. Free cash flow was $850 million for the quarter and $1,021 million for the fiscal year, compared to $175 million for the previous year.

Significantly, at a time when the economy is in the doldrums, CSC's new business for the fourth quarter totaled $3.47 billion, bringing its full year awards to approximately $16.19 billion, an increase of 4% when compared with fiscal year 2008.

Commenting on the results, CSC Chairman and Chief Executive Officer Michael W. Laphen said, "Fourth quarter 2009 was another successful and important step in our march to consistent results and continuous improvement. Despite the challenging economic environment, CSC's achievements included exceptional cash generation, realization of our full-year goal of at least a 25 basis points margin rate improvement, successful execution and delivery of the National Health Service (NHS) milestones, and remediation of a material weakness associated with our tax accounting."

CSC has £3 billion ($4.8 billion) worth of NHS IT contracts.

Comments (1)

	1. 05-22-2009 13:26
	If CSC can somehow manage to get the British National Health Service back on track, it will be a high note. The British government previously budgeted $12 billion to overhaul its health-care system using IT. The budget ballooned to at least $24 billion by 2006 before one of the partners in the project, Accenture, announced it was walking away from the project.    It’s a lesson one would hope the Obama administration has studied carefully as it embarks on a plan to overhaul this country’s healthcare IT infrastructure. Registered

Mel Duvall

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