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by David R. Brousell, MA Editorial Staff Posted on Thursday, February 07, 2008 3:39:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | The global IT services provider experiences lackluster sales and income in the fourth quarter, but manages a significant improvement in the full-year bottom line. |
| Keywords: | EDS fourth quarter, EDS net income |
Technology services provider EDS yesterday reported its fourth-quarter and full-year 2007 financial results, saying that GAAP net income for the quarter fell to $189 million from $217 million a year ago, on a 2% revenue increase to $5.8 billion. EDS said that adjusted net income for the quarter, which excludes costs related to an early retirement offer, discontinued operations, and certain write-offs, rose to $295 million, or $0.55 per share, compared with $254 million, or $0.47, in the fourth quarter of 2006. "It was a good quarter and good full year, but we're not satisfied with the pace of improvement," said Chairman and Chief Executive Ronald A. Rittenmeyer, during a conference call with financial analysts. He said improvements in margins and free cash flow will be areas of key focus in 2008. [Click to continue] |
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