CSC revenues dip
- August 11, 2014
<b>THE TAKE:</b> Falls Church-based CSC reported a 2 percent dip in first-quarter revenues on weak federal spending. The company said it sees growth in cloud, cybersecurity and big data.
Revenues: Revenues were $3.24 billion, down 2 percent from the same period last year when considering constant currency.
Profit: Net income dropped to $146 million in the first quarter, compared with $174 million in the same period the year before.
<b>THE COMPANY’S TAKE:</b> “First quarter results were consistent with our expectations for the start to fiscal 2015,” said Mike Lawrie, president and CEO. “Our North American Public Sector (NPS) business performed well with sequential revenue improvement and a higher operating margin as we continue to position that business for the uncertain federal spending environment. In our commercial business, we continue to make investments in next generation offerings, strategic partnerships, and sales capacity as we focus on returning that business to growth. We are particularly pleased with the growth we are seeing in our cloud, cyber, and big data businesses.”