ACS reports fiscal 2nd-quarter earnings

DALLAS -- ACS reported diluted earnings per share for its fiscal 2000 second quarter ended Dec. 31, 1999 increased 25 percent to 50 cents from 40 cents per share for the same quarter last year. This represents the 21st consecutive quarter of double-digit earnings growth for the information technology services company.

Revenues for the second quarter were $476 million, up 22 percent compared with $391.6 million for the year-earlier quarter. Net income for the second quarter was $26.4 million, an increase of 28 percent over net income of $20.6 million for the same quarter last year.

Revenues for the first six months of fiscal year 2000 were $923.7 million, up 22 percent compared with $755 million for the corresponding period in the prior year. Net income for the first six months of fiscal year 2000 was $51.5 million, an increase of 30 percent over the prior period's net income of $39.6 million. Diluted earnings per share for the first six months of fiscal year 2000 was 97 cents, up 26 percent compared to 77 cents per share for the corresponding period in the prior year.

"I am pleased to say that Y2K was a complete non-event as a result of collaboration between ACS employees and our clients. We posted excellent financial results, despite the Y2K distraction and are very focused on new business activities," said Jeff Rich, ACS president and CEO. "We had a record quarter for new business signings and our sales pipelines are very strong."