CSC News

The Air Force is considering whether to seek new bids for a planned restart of a stalled, system-wide computer modernization project, raising the possibility that management of the work could shift away from the Dayton area.

ENP Newswire - 28 May 2012 Release date- 24052012 - FALLS CHURCH, Va. - CSC today announced Safety Insurance Group, a Boston-based property and casualty insurer, has extended its managed services agreement with CSC to 2021.

This indefinite delivery, indefinite quantity contract, which was awarded during CSC's fiscal 2012 third quarter, has a five-year performance period and a Not-to-Exceed value of $450 million for all six prime contracts.

FALLS CHURCH, Va., May 23 -- CSC issued the following news release: CSC today announced Safety Insurance Group, a Boston-based property and casualty insurer, has extended its managed services agreement with CSC to 2021.

Terms of the deal were not disclosed. The companies described it as a merger of equals, said Thomas J. Marino, CEO of J.H. Cohn.

Khaled al-Masri, a German citizen, was kidnapped January 2004 in Macedonia, then tortured and interrogated by U.S. authorities for alleged links to terrorism.

May 22 - Fitch Ratings has downgraded the following ratings for Computer Sciences Corp.

Overview -- U.S. technology services provider Computer Sciences Corp. recently reported fiscal 2012 revenues of $15.9 billion, and a $4.2 billion loss from continuing operations.

The global IT outsourcing market grew 7.8% in 2011 , Gartner estimates, with market leader IBM 's share holding steady at 10.9%. H-P only grew its sales 2%, and that resulted in its share falling to 6.1%. Troubled Computer Sciences saw its share fall to 4.2%, while Accenture's grew to 2.6%. Gartner continues to see the adoption of cloud services as ... (more)

On Thursday, Computer Sciences Corporation reported its fourth quarter earnings and discussed the following topics in its earnings conference call.

Aetna Incorporated maintained its quarterly dividend of 17.5 cents per share. The dividend is payable on July 27, 2012, to shareholders of record at the close of business on July 12, 2012.

In 2013, it will be 50 years since CSC floated on the New York Stock Exchange after it had become the largest software company in the world.

AAPL , ABX , AHL , BR , CA , CBS , CFN , CSC , DELL , DST , EPL , ESV , EXPE , FURX , GDXJ , GM , HCA , HII , MRVL , MSFT , NCR , NVR , OVTI , RIMM , RNDY , S , STX , TRV , XRX , YHOO This article is part of a series that provides an ongoing analysis of the changes made to Einhorn's Greenlight Capital US long stock portfolio on a quarterly basis.

Mike Lawrie , CEO at Computer Sciences Corp., vows to turn around the struggling company by cutting expenses by $1 billion over the next 12 to 18 months, according to Reuters .

On top of dropping to a loss in the fourth quarter, S&P 500 component Computer Sciences Corporation also came in short of analyst estimates.

Good day, everyone, and welcome to the CSC Fourth Quarter and Year End Fiscal Year 2012 Conference Call.

Computer Sciences Corp. said Thursday it swung to a fourth-quarter loss of $158 million, or $1.02 a share, from $171 mililon, or $1.09 a share, in the year-ago period.

CSC today reported fourth quarter fiscal 2012 revenue of $4.11 billion and fully diluted EPS from continuing operations of compared to fourth quarter fiscal 2011 revenue of $4.20 billion and fully diluted EPS from continuing operations of $1.01. Fourth quarter revenue declined by 2.1% and declined 1.5% in constant currency.

David Einhorn's Greenlight Capital established new positions in Computer Sciences and Expedia in Q1.

CSC Applied Technology Division, a Texas unit of Falls Church-based Computer Sciences Corp., will lay off 191 employees in Houston after losing a NASA contract, the Houston Business Journal reported.