CSC fiscal 2014 revenue dips 8% to $13 billion

CSC today said its fourth quarter revenue in fiscal 2014 dipped 5 percent to $3.33 billion. In fiscal 2014, revenue decreased 8 percent to $13 billion.

Q4 income from decreased by $68 million to $179 million, while fiscal 2014 income increased by $123 million to $621 million.

CSC said its Global Business Services (GBS) revenue in Q4 dipped to $1.18 billion from $1.22 billion in the year ago quarter. For fiscal 2014, GBS revenue declined to $4.41 billion from $4.92 billion.

Mike Lawrie, president and CEO CSC

CSC said Global Infrastructure Services (GIS) revenue of $1.19 billion in Q4 FY 2014 was unchanged as revenue growth from cloud, cyber and the ServiceMesh acquisition offset the impacts from price-downs and restructured contracts.

GIS revenue dipped 2 percent in FY 2014 to $4.61 billion.

Mike Lawrie, president and CEO, said: “Our partnerships are beginning to build momentum, and we are expecting to see contributions to our commercial business in the second half of fiscal 2015. While we are encouraged by the pickup in our commercial business, we still see a fair amount of uncertainty in the Federal market.”

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