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CSC Releases Quarterly Financial Results; Laphen Comments

Computer Sciences Corp. (NYSE: CSC) released its first quarter fiscal 2012 financial results on August 10.

The company generated quarterly revenue of $4.03 billion,  up from $3.91 billion in the prior year period. 

The company’s diluted earnings per share from continuing operations rose 32.5 percent year-over-year to $1.18 from $0.89.

Net income increased 25 percent over that period to $183 million from $143 million.

Quarterly operating cash outflow of $46 million was an improvement over $14 million in the previous year.

“This quarter’s margin results were adversely affected by performance within the managed services sector, ” said Michael W. Laphen, CSC chairman, president and CEO. “Improvement actions are underway within this business. Our other two lines of business delivered results essentially in line with our expectations. I am particularly encouraged by the revenue growth in business solutions and services which we’ve identified as our growth platform. We are very pleased to have closed our acquisition of iSOFT with its depth of quality healthcare resources and clients.”

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