Services giant Computer Sciences Corporation rounded out a strong week by announcing a $300 million contract with AT&T to manage its consumer applications.
The 10 year contract will see CSC take on the management of a portfolio of around 50 applications that support AT&T Consumer Services division. These include software systems for telemarketing and customer support, and sales and marketing applications.
AT&T said outsourcing the applications will allow it to focus its own IT resources on more critical areas to the company, as well as reducing costs.
This week CSC posted strong results for its fiscal third quarter. For the three months ending 1 January, 1999, revenue was $1.93 billion, up 15.9 per cent, over $1.66 billion for the same period last year.
Net income for the quarter rose 25.9 per cent year on year, from $69.1 million to $87 million. Earnings per share were 54 cents, up from 44 cents for last year?s third quarter.
CSC chairman Van B Honeycutt said the results reflected the company?s solid operating performance.
?Strong revenue gains were recorded by our European operations, our consulting and systems integration services, and our financial services vertical market activities," he said.
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