Computer Sciences Slips To Loss; Stock Down 5%

(RTTNews) - IT service provider Computer Sciences Corp (CSC) on Monday reported third-quarter net loss to equity holders of $314 million or $2.23 per share compared with a profit of $271 million or $1.81 per share last year.

Results for the latest quarter included $2.05 per share of non-cash pension-related charges and $1.38 per share of a proposed SEC settlement-related charge.

Excluding items, adjusted earnings for the quarter were $1.18 per share compared with $1.08 per share a year ago.

Revenues for the quarter were $2.95 billion compared with $3.23 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.12 per share on revenues of $3.18 billion for the quarter. Analysts' estimates typically exclude special items.