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By Dennis Callaghan  |  Posted 2002-10-31 Print this article Print

: EDS Rivals"> EDS smaller competitor in the IT consulting arena, the former KPMG Consulting, meanwhile, reported higher revenue and a profit for its first fiscal quarter of 2003. Now known as BearingPoint Inc., the IT consulting firm generated earnings per share of nine cents, or a net income of $15.2 million, for the first quarter ended Sept. 30. For the same quarter last year, BearingPoint lost 36 cents a share, or $57.6 million. Although it also beat revenue estimates to show a 23 percent gain to $747.6 million for the quarter, officials cautioned that the companys business outlook looks weak. Without some $180 million in revenue generated through a handful of acquisitions, revenues would have been down compared with last years $608.9 million first quarter.
BearingPoint, of McLean, Va., expects to generate revenue of between $760 million to $820 million and earn nine to 12 cents a share for its second fiscal quarter ending Dec. 31.
Smaller IT outsourcing rival Perot Systems Corp., meanwhile, recorded a 12 percent rise in revenue to $342 million and earnings per share of 17 cents. The Plano, Texas, firm boasted that its results reflect a fifth consecutive quarter of record revenues. Perot Systems in its third quarter signed a total of $603 million worth of new contracts. Also in the third quarter, Perot Systems chose to exit an infrastructure joint venture formed in 1998, and it received a $7 million payment as a result. Although that decision is expected to sequentially reduce revenue by $8 million, it is not expected to have a material impact on earnings. Perot Systems expects to generate revenue of between $320 million to $335 million for its fourth quarter. That represents in increase of between 3 percent to 7 percent over the same quarter one year earlier. Finally, technology research giant Gartner Inc. posted a 6 percent revenue decline to $907.2 million for its fiscal 2002 year, although it saw net income grow from a loss of $66.2 million last year to a $48.6 million gain this year. Earnings for the Stamford, Conn., company were 47 cents a share for fiscal 2002 versus a loss of 77 cents a share last year. For its fourth quarter of 2002, Gartner reported revenues of $220.5 million, a 3 percent decline over its fourth quarter of last year. Net income, however, grew to $15.6 million, or 15 cents a share, compared with a net loss of $8.1 million, or a 10 cent loss per share, in the same quarter last year. Gartner is projecting revenue of between $222 million to $232 million for the quarter ending Dec. 31, with earnings per share ranging from nine to 13 cents.


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