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To: Jenna who wrote (37837)	5/3/1999 2:22:00 PM
From: Street Walker	Respond to of 120523

News - biz.yahoo.com

To: Jenna who wrote (37837)	5/3/1999 6:15:00 PM
From: Jenna	Respond to of 120523

2 more earnings plays report: CI and CSC both up strongly today on anticipation. CSC Reports Fiscal 1999 Earnings Of $2.11 Per Share; Up 23% and earnings for CI up 20% (see below) 5 out 5: TSN,TBFC, SONE,CSC,CI all beat estimates. EL SEGUNDO, Calif., May 3 /PRNewswire/ -- Computer Sciences Corporation (NYSE: CSC - news) reported net income for fiscal 1999 (ended April 2) of $341.2 million, up 25.2% from fiscal 1998 net earnings of $272.6 million, excluding special items. On a diluted basis, fiscal 1999 earnings per share were $2.11, up 22.7% from last year's $1.72, before special items. The fiscal 1998 special items included a net credit of 1 cent per share for the first quarter and a charge of 9 cents per share for the fourth quarter, as described on the attached table. Revenues for CSC's fourth quarter exceeded $2 billion for the first time for any quarter, reaching $2.13 billion. Revenues for this 13-week period were up 14%, compared with the $1.87 billion reported for last year's comparable quarter, a 14-week period. Net income for the quarter was $116.8 million, or 72 cents per share, exceeding $100 million for the first time. This represents a 24.2% increase over the $94.0 million, or 59 cents per share, reported last year, before the special charge. ''The results for our fourth quarter topped off another year of significant growth in revenue and net income,'' said Van B. Honeycutt, CSC's chairman, president and chief executive officer. ''For the fourth quarter, we increased global commercial revenue and improved margins, while announcing over $1.6 billion of new business awards and several acquisitions. Many of these awards and acquisitions came late in the quarter and will contribute strongly to fiscal 2000 results.'' >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> CIGNA Reports First Quarter Results; Earnings Up 20% for Health Care Segment PHILADELPHIA, May 3 /PRNewswire/ -- CIGNA Corporation (NYSE: CI - news) today reported first quarter 1999 operating income* of $251 million, or $1.21 per share. This compares with operating income of $255 million, or $1.17 per share for the first quarter of 1998, adjusted to exclude an after-tax gain of $202 million associated with the sale of CIGNA's individual life insurance and annuity business. These results include the property and casualty operations that are to be sold to ACE Limited**, which is expected to be finalized by mid-1999. Excluding the operations to be sold, CIGNA's operating income for the first quarter of 1999 was $233 million, compared with operating income of $214 million for the same period in 1998 or $1.12 per share vs. $0.98 per share, a 14% increase. ''Our employee benefits businesses continued to perform well in the quarter and we are particularly pleased with the underlying strength of the health businesses,'' said Wilson H. Taylor, CIGNA's chief executive. ''The sale of the property and casualty businesses to ACE Limited remains on schedule for a mid-year closing,'' Taylor added.