Denver, CO – (Stocksntrade) – 05/09/2014 – Fiscal Year 2014 displays favourable results
Recent financial reporting for the fiscal year 2014 was extremely favourable for one company. Computer Sciences Corporation (NYSE:CSC) has reported an increase in profit margins.
Mike Lawrie, the president and SEO stated that the company has also seen an increase in its free cash flow. He said that they have closed the year with a continued sequential increase in revenue and bookings. As per him, their partnerships are starting to generate some momentum. He expected to see a greater amount of contributions in the commercial sector for the second half of the fiscal year 2015. Computer Sciences Corporation (NYSE:CSC) has a target of growth equaling $4.35 to $4.55 per share in the coming year.
Details of earnings and revenue generation
A closer look at the revenue for 4Q, 2013 shows a total of $3.33 billion generated. This is lower than the $3.50 billion generated in 4Q, 2012. For the fiscal year 2014, the revenue earned was $13 billion. This was a 7% decrease from the previous year. The company generated $359 million in operating income for the quarter.
This was an increase of $154 million in comparison to the previous year. This was due to the restructuring and progress made from other initiatives. This also includes the reversal of the contingency amount of $21 million associated with the purchase of ServiceMesh Incorporated. If we compare the operating income year on year, there was an increase of $444 million and it stands at $1.32 billion today.
Adjusted earnings information
Computer Sciences Corporation (NYSE:CSC) earned 292 million in 4Q, 2013 before adjusting for taxes and interest. The company registered an increase of $161 million as against the last year. The margin for EBIT is at 8.8% for the quarter and for the entire year it was $1.04 billion. This is a $431 million increase over the last year.
The free cash flow was recorded at $288 million for 4Q, 2013. On a year on year comparison, it was an improvement of $481 million. This was driven by lower contributions to pensions and better management of working capital.
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