Perot Systems Reports First Quarter 2000 Financial Results
DALLAS, May 2 /PRNewswire/ -- Perot Systems Corporation (NYSE: PER - news) reported first quarter 2000 earnings per share (diluted) of $.17, exclusive of non-recurring items, a 13% increase over $.15 per share (diluted) for the first quarter of 1999.
For the first quarter ended March 31, 2000:
Revenue was $274.6 million, which was flat with the same period in 1999 because of the impact of the late 1999 loss of the East Midlands Electricity (EME) contract and lower spending by our UBS account.
Long-term contract signings for the first quarter of 2000 were $355 million, bringing the total value of long-term contracts signed in the past 12 months to more than $1.3 billion.
Gross profit, EBIT, pretax income, and net income as a percentage of revenue, exclusive of non-recurring items, grew to all-time highs.
Net Income for the first quarter, exclusive of non-recurring items, was $18.9 million, or 6.9% of revenue, representing 17% growth and a 1.0% point margin increase over the same period in the prior year.
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