Reuters logo
UPDATE 1-CSC expects FY 2012 charge on NHS impairment
April 10, 2012 / 10:56 PM / 6 years ago

UPDATE 1-CSC expects FY 2012 charge on NHS impairment

April 10 (Reuters) - U.S. technology services provider Computer Sciences Corp expects to record a charge of $9.91 a share in its 2012 fiscal year following uncertainty regarding a key contract with the UK government’s National Health Service.

The company has been in active talks with the NHS since last year for an amendment to an IT contract. Last week, the company said it signed an letter of intent with the NHS to extend talks until June.

The company earlier warned its impairment charge on the NHS contract could equal to CSC’s investment in the contract, which was about $1.5 billion, as of Nov. 30, and possible additional costs.

CSC expects to report a loss of 92 cents to 96 cents a share for the fourth-quarter on revenue of $4.1 billion.

It projected a profit of 19 cents to 21 cents a share on an adjusted basis.

Its shares were down 4 percent in extended trading. They closed at $28.18 on Tuesday on the New York Stock Exchange.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below