CSC reports profit growth

But sales are down for the first quarter

CSC has focused on strategic improvements over its first quarter

Outsourcer CSC posted positive results for its first fiscal 2009 quarter, helped by lower costs and a tax benefit.

The firm reported an increase in earnings of 7.6 per cent year-on-year, with net income growth of 5.5 per cent to $133m (£80m). However, quarterly sales dropped 12.4 per cent to $3.9bn (£2.3bn).

Expenses and costs also decreased by 13 per cent to $3.71bn, according to the IT services company, which also said full-year revenue should reach $16bn to $16.5bn.

“We experienced another strong quarter of earnings improvement while also meeting or exceeding our other key financial targets for the quarter,” said chief executive Michael Laphen.

CSC said that strategic improvements over the period included the acquisition of bankrupt Brazilian consulting firm BearingPoint, a cloud computing alliance with Microsoft and increased focus in cyber security.