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by David R. Brousell, MA Editorial Staff
Posted on Friday, May 04, 2007 4:40:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Citing operational efficiency as a strong driver of its bottom-line improvement, the company reaffirms guidance for the full year and looks for more gains from its applications services business. |
| Keywords: | EDS, Electronic Data Systems, technology services, integration services, integration consultant, Mike Jordan, net income spike, flat revenue |
EDS, the big technology services company, late yesterday reported that adjusted net income for its first quarter rocketed to $165 million, or $0.31 per diluted share, compared with $33 million, or $0.06 per share, in the first quarter of fiscal 2006. Top-line growth, however, inched up only 3% to $5.2 billion, from $5.1 billion in the year-ago period. Moreover, on an organic basis, first-quarter 2007 revenue actually declined 1%. Nevertheless, EDS's revenue for the first quarter ended March 31 came in at the middle of its guidance range, which was $5.1 billion to $5.3 billion. Revenue from the manufacturing industry was $835 million, down from the $866 million recorded in last year's first quarter. Manufacturing customers represent 13% of EDS's overall business. [Click to continue] |
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