Perot profit climbs on services deals
By Bloomberg News
Special to CNET News.com
May 12, 1999, 9:10 a.m. PT
Perot Systems, the computer services company founded by billionaire Ross Perot, said first-quarter profit rose a better-than-expected 80 percent on more-profitable contracts.
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Net income at the Dallas-based company rose to $16.2 million, or 15 cents a share, from $9 million, or 10 cents, a year ago. That beat the average forecast of 11 cents from five analysts polled by First Call. Sales rose 28 percent to $274.4 million from $214.1 million.
Perot Systems said last month it expected earnings would top forecasts because of increased profitability from its contracts to run other companies' computer systems.
Perot Systems, founded in 1988 by the two-time U.S. presidential candidate, went public in February.
Its shares rose 2.1875 to 32 yesterday.
Neil |
