News

ACS announces record earnings

February 25, 2002

Affiliated Computer Services, Inc. (ACS) announced record quarterly revenues, net income and earnings per share for its second fiscal quarter ended Dec. 31, 1998.

Revenues for the second quarter were $391.6 million, up 37 percent compared with $285.2 million for the year-earlier quarter. Net income was $20.6 million, an increase of 42 percent over year-earlier net income of $14.5 million, excluding the merger charge associated with an acquisition in the second quarter of fiscal year 1998. Diluted earnings per share was 40 cents, a 30 percent increase over earnings per share the previous year, excluding the merger charge.

Jeff Rich, president and CEO of ACS, said, "Our employees' hard work and dedication enabled us to sustain an internal growth rate well in excess of our stated goal of 10 percent, as well as exceed the high end of analyst earnings estimates for our second quarter."

ACS provides a full range of information technology services, including technology outsourcing, business process outsourcing, electronic commerce, professional services and systems integration.