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CSC Hits 10% Operating Margin for FY 2014; Mike Lawrie Comments

Mike Lawrie
Mike Lawrie

Computer Sciences Corp. (NYSE: CSC) generated $1.32 billion in operating income during its 2014 fiscal year and its operating margin also rose , Washington Business Journal reported Thursday.

Jill Aitoro writes CSC’s operating income for the fourth quarter ended March 28 amounted to $359 million and free cash flow for the fiscal year increased from $288 million to $689 million.

“We believe our cost takeout actions have positioned CSC well, if we do not see improvement in the demand environment in 2015, ” Mike Lawrie, CSC CEO, said in a conference call, according to the report.

“We’re reinvesting a lot of money — hundreds of millions of dollars, we’re blowing back into our people, in terms of skills, hiring, ” Lawrie added.

Aitoro writes the company reported $606 million in continuing operations income for fiscal 2014, or $3.91 per share.

CSC plans to reduce between $450 million and $500 million in fiscal 2015 costs by streamlining general and administrative spending and rebalancing human resources, the Business Journal reports.

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