Computer Sciences 3rd-quarter profit jumps on demand for outsourcing of IT services

CSC fiscal 3Q profit jumps on outsourcing demand

FALLS CHURCH, Va. — Computer Sciences Corp. said Wednesday its fiscal 2010 third-quarter results jumped 31 percent as the company benefited from increased demand for outsourcing of information technology services.

CSC earned $211 million, or $1.36 per share, in the quarter ended Jan. 1, compared with $161 million, or $1.06 per share.

Revenue remained flat at $3.95 billion. CSC won $6.8 billion in new business during the quarter.

Analysts polled by Thomson Reuters forecast a profit of $1.23 on revenue of $4.03 billion.

CSC expects outsourcing demand will continue to boost earnings in the current quarter.

The company reaffirmed its guidance for fiscal year 2010 ending in March. It expects earnings of $4.80 to $5 per share on revenue between $16 and $16.5 billion.

Analysts expect annual earnings per share of $4.96 and revenue of $16.25 billion.

Shares of Computer Sciences fell 10 cents to $52.40 in midday trading.