COMPUTER SCIENCES CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2017 10-K, filed May 26, 2017. Its latest SEC filing is a SC 13G/A from Feb 12, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Provides IT services and technology solutions—including applications, cloud infrastructure and cybersecurity—to commercial organizations and public- and private-sector enterprises.

How Did They Make Money?

Clients pay for IT outsourcing and other professional services under contracts. Time-and-materials work is billed as services are provided, unit-priced work when units or services are delivered, and fixed-price work as project progress is made or across the contract term.

FY2017 revenue

Who Were Their Customers?

Serves commercial clients with managed infrastructure, cloud, data-center and security services; its applications, consulting, software and business-process offerings target organizations in insurance, banking, healthcare, manufacturing and other industries.

Did Revenues Turn Into Profits?

Not on paper. It lost $123M in FY2017, but brought in more cash than it spent: $732M of free cash flow.

Operating income, FY2017

5% of revenue

▼ −31% vs FY2016 ($515M, 7%)

Net income, FY2017

−2% of revenue

▼ Now a loss vs FY2016 ($251M, 4%)

Free cash flow, FY2017

10% of revenue

▲ +64% vs FY2016 ($446M, 6%)

How Were They Changing?

Shrank. Revenue fell 46% in 4 years, from $14.2B in FY2013 to $7.6B in FY2017, about 14% a year.

Combination with HPE Earlier, CSC is described as a standalone IT and professional-services provider; the latest report says it combined with Hewlett Packard Enterprise's Enterprise Services business to form DXC, an end-to-end IT services company.

Comments