Perspecta Q3 Profit Rises; Lifts FY Outlook

(RTTNews) - Perspecta Inc. (PRSP), U.S. government services provider, reported that its third-quarter net income was $53 million, or $0.33 per share, up from $38 million or $0.23 per share in the prior year.

Adjusted earnings per share for the third quarter was $0.55, up 17% from last year.

Revenue for the quarter was $1.13 billion, up 5% compared to the third quarter of fiscal year 2019.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share and revenues of $1.11 billion for the third-quarter. Analysts' estimates typically exclude special items.

For fiscal year 2020, the company now expects adjusted earnings per share to be in the range of $2.12 - $2.18, revenue of $4.45 billion - $4.50 billion, compared to the prior outlook of $2.10 - $2.18 per share, and revenue of $4.425 - $4.50 billion. Wall Street currently is looking for fiscal year 2020 earnings of $2.13 per share on annual revenues of $4.48 billion.