CSC reports fall in revenue and profit

But chief executive pleased with performance in difficult economic climate

CSC made less money than last year

IT services provider CSC has reported year-on-year falls in profit and revenue for its third financial quarter.

Revenue of $3.95bn (£2.74m) was down from $4.26bn (£2.96bn) in the same period the previous year, while net income slipped from $179m (£124m) to $160.6m (£111.5m).

The firm's Global Outsourcing Services business posted the largest percentage drop in sales, down 13 per cent to $1.49bn (£1.03bn).

CSC chief executive Michael Laphen said that the firm performed well in the difficult economic climate.

"We are pleased with our progress in the third quarter," he said.

"These results reflect the company's intensified focus on financial discipline, cost control and cash management. CSC continues to execute on its strategic initiatives and is well positioned to take advantage of emerging opportunities in an otherwise unsettled and difficult economic environment."