Let's start with CSC's top-line: Total quarterly revenues were $3.78 billion, up from $3.69 billion in the corresponding quarter last year. CEO Mike Lawrie said the company's turnaround is "tracking to plan." As a result, the company raised its target for fiscal year 2013 earnings per share from continuing operations. The company may also sell off low-margin businesses.
In the managed services sector, the company said quarterly revenue decreased 3% to $1.62 billion. Segment operating margin increased by 120 basis points to 7.7% due to better contract performance and cost takeout partially offset by workforce restructuring charges of $8 million, the company said. The managed services division signed $1.4 billion of new business during the quarter.
Also of note: Cloud-computing awards in the commercial and public sector reached approximately $400 million year-to-date, an increase of more than 200 percent compared with a year ago, according to CSC's third-quarter earnings, Washington Business Journal reported.
CSC stumbled badly in the MSP market around mid-2011.By May 2012 the company seemed to be regaining its managed services footing. This week's earnings report seems to show more progress.