Electronic Data Systems Delays Report on Results
From Associated Press
Electronic Data Systems Corp. delayed releasing its third-quarter financial results until Nov. 3 to let auditors finish evaluating a money-losing contract to provide computer services to the Navy.
EDS indicated that it was considering writing down the value of assets related to the Navy deal, which were valued at about $700 million on Sept. 30.
The company said it continued to expect earnings, after special items, to be at the high end of 5 cents to 10 cents a share.
Before news of the delay, EDS shares rose 28 cents to $20.03 on the New York Stock Exchange.
