EDS back in the black
But sales slip in Q4
EDS made a profit for the last quarter of 2004 ended 31 December but saw sales fall slightly.
After a loss of $337m in the fourth quarter of last year EDS made a profit of $53m on sales of $5.25bn, down five per cent on the year before. Organic revenue, excluding the impact of currency changes, was down eight per cent.
New business was also slightly down. EDS signed contracts worth $3.8bn in the fourth quarter against $4.0bn in the last quarter of 2003. Significant wins included workplace management for Barclays, the British Columbia Ministry of Provincial Revenue and the UK Ministry of Defence.
EDS expects to increase sales in Business Process Outsourcing thanks to its deal with Towers Perrin.
CEO Mike Jordan said the firm ended the year in a stronger postion than it began but needs to focus on investing in further growth.
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