Affiliated Computer posts higher 2nd-quarter profit, revenue
By APThursday, January 21, 2010
Affiliated Computer posts higher 2Q profit
DALLAS — Information technology and outsourcing company Affiliated Computer Services Inc. said Thursday its fiscal second-quarter profit and sales grew as it added new business and renewed contracts.
ACS, which agreed to be acquired by Xerox Corp. last fall for about $6 billion in cash and stock, posted a profit of $96 million or 97 cents per share, up 27 percent from $75.5 million, or 77 cents per share, in the same period a year earlier.
Adjusted earnings were $1.07 per share. These excluded 9 cents per share in costs related to the Xerox takeover and 1 cent per share related to an investigation of stock options.
Revenue rose 3 percent to $1.66 billion from $1.61 billion for the three months ended Dec. 31.
Analysts, on average, were expecting a profit of 99 cents per share on sales of $1.71 billion, according to a survey by Thomson Reuters.
“This was a busy quarter at ACS as we worked toward finalizing the Xerox transaction, and I’m proud of the operating results our team delivered,” said Lynn Blodgett, ACS president and CEO, in a statement.
Shares closed up $1.75, or 2.8 percent, at $63.92.
