IT services company Computer sciences has reported lower fourth quarter earnings of USD 199.4 million, or USD 1.05 per share, from USD 411.8 million, or USD 2.13 per share, a year earlier. The company said in the year-ago quarter it company had a gain from selling one of its unit.
The company said its latest fourth-quarter results included charge related to the Nortel Networks contract of USD 15.2 million, or 8 cents a share, and a charge resulting from the cumulative effect of adoption of FIN 47, dealing with asset retirement obligations of USD 4.3 million, or 2 cents per share. Excluding these items the company said its earnings per share from continuing operations were USD 1.16
Revenue for the quarter was slightly up by about 3 percent to .88 billion over last year’s fourth quarter.
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