CSC Q4 Profit Tops Estimate

(RTTNews) - Computer Sciences Corp. (CSC) reported net income for the fourth quarter of $174 million or $1.17 per share, compared to $281 million or $1.81 per share for the year-ago quarter.

Earnings per share from continuing operations for the fourth quarter was $1.19, compared to $1.56 in the prior year quarter.

Excluding items, adjusted earnings per share from continuing operations for the fourth quarter was $1.09, compared to $1.22 in the fourth quarter of last year.

Total revenue for the fourth quarter fell to $3.33 billion from $3.50 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $1.04 per share on revenue of $3.36 billion for the fourth quarter. Analysts' estimates typically exclude special items.

The company also said its Board of Directors has approved a 15% increase to the company's quarterly common stock dividend to $0.23 per share. The company's board also authorized a new $1.5 billion share repurchase program.

Looking forward, the company forecasts fiscal 2015 earnings of $4.35 to $4.55 per share. Analysts currently expect the company to earn $4.43 per share for the fiscal year 2015.