Computer Sciences Corporation (CSC) – Company Information

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Computer Sciences Corporation (CSC) is a multinational corporation, based in Virginia, that focuses on providing information technology (IT) and professional services.

It is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘CSC’.

CSC was founded in April 1959, by Fletcher Jones, Robert Patrick, and Roy Nutt. The three focused on the development of programming tools (such as compilers and assemblers). By 1963 CSC was one of America’s largest software companies.

It has a broad portfolio of products/services, including: Business Drivers, Application Services, Big Data & Analytics, Business & Technology Consulting, Cloud Solutions & Services, Cybersecurity, Industry Software & Solutions, Infrastructure Services, Mobility Strategy.

The company’s mission is “to enable superior returns on clients’ technology investments through best-in-class industry solutions, domain expertise and global scale.”

CSC has three main reportable business segments:

Global Business Services (GBS) – offers technology solutions such as consulting, applications services, and software, aimed at addressing major business challenges within specific industries.

Global Infrastructure Services (GIS) – provides customers with data center management, managed and virtual desktop solutions, unified communications and collaboration services, cyber security, compute and managed storage solutions.

North American Public Sector (NPS) – this segment focuses on providing IT, mission, and operations-related services to civil agencies of the U.S. federal government, the Department of Defense, and other state, local and foreign government agencies.

CSC has a total of 79,000 employees (as of March 28, 2014), across 70 countries.

CSC entered into an alliance with AT&T to merge the Company’s cloud infrastructure, specialized consulting and applications expertise with AT&T’s highly-secure network and cloud infrastructure platform “to help global businesses move more quickly to the cloud.”

Overview

CSC logo

  • President and CEO: J. Michael Lawrie
  • CFO: Paul N. Saleh
  • Type: Public
  • Industry: IT Services
  • Listed on the New York Stock Exchange (NYSE)
  • NYSE stock ticker symbol: CSC
  • S&P 500 Component
  • Revenue: $12.998 billion USD (2013)
  • Net income: $690 million USD (2013)
  • Diluted earnings per share: $4.47 USD (2013)
  • Employees: 79,000 (2014)
  • Corporate headquarters: 3170 Fairview Park Drive, Falls Church, Virginia, USA
  • Corporate contact number: (703) 876-1000
  • Website: http://www.csc.com/

Operating data (in $ millions) 2013 2012
Revenues $12,998 $14,195
Costs of services $9,567 $11,100
Selling, general and administrative expenses $1,278 $1,176
Depreciation and amortization $1,018 $1,070
Restructuring costs $76 $264
Interest expense $147 $183
Other expense $(6,384) $(7,046)
Interest income $(16) $(22)
Other expense (income), net $18 $(25)
Total costs and expenses $12,088 $13,746
Income (loss) from continuing operations before taxes $910 $449
Tax expense (benefit) on income $289 $(49)
Income (loss) from continuing operations $621 $498
Income from discontinued operations, net of taxes $69 $481
Net income $690 $979
Net income attributable to noncontrolling interest, net of tax $16 $18
Net income attributable to CSC common stockholders $674 $961
Balance sheet data (in $ millions)
Total assets $11,389 $11,251
Long-term debt, net of current maturities $2,207 $2,498
Total stockholders’ equity $3,913 $3,135
Cash flow data (in $ millions)
Net cash provided by operating activities $1,560 $1,119
Net cash provided by (used in) investing activities $(566) $456
Net cash used in financing activities $(599) $(589)
Cash and cash equivalents at end of year $2,443 $2,054
Common share data (in $)
Basic earnings (loss) per common share $4.56 $6.22
Diluted earnings (loss) per common share $4.47 $6.18

Source: “Computer Sciences Corporation 2013 Form 10-K Annual Report”


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