Earnings at E.D.S. Slip 13% After Verizon Ends Contract
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E.D.S. reported net income of $189 million, or 36 cents a share, in the quarter that ended Dec. 31. That was down from $217 million, or 40 cents a share, a year earlier.
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Electronic Data Systems Electronic Data Systems which had delayed its quarterly earnings several times, said on Monday it lost $153 million in its third quarter after taking a loss on a large Navy contract.
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IT services provider Electronic Data Systems yesterday reported a net loss of $153 million for the third quarter, with earnings hit in part by an asset impairment charge of $375 million connected with EDS's N/MCI project.
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Wireless carriers planning to offer next-generation wireless services have bid $13.9 billion in a spectrum license auction that ended Monday, the U.S. Federal Communications Commission (FCC) said.
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Verizon Communications Inc. VZ.N,  the nation's largest telecommunications company, on Thursday  posted a quarterly profit on asset sales and strong demand at  its Verizon Wireless unit.
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Verizon Communications Inc.'s third-quarter profit held steady at about $1.80 billion as declining revenues from traditional phone services at the nation's biggest telephone company were offset by another blockbuster quarter for Verizon Wireless, which added a record 1.7 million subscribers.
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NEW YORK -- Verizon Communications Inc., the nation's second largest telecommunications company, on Monday reported a 3.9 percent rise in fourth-quarter earnings on steady but moderate growth in its core operations.
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Nokia Corp. reported a 13 percent drop in fourth-quarter earnings Thursday, but said it had recovered some market share, revenue had increased and it predicted more growth in 2005.
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The telecommunications giant finished its first full year as a merged company with a net loss of 3.52 billion euros, or $5.1 billion, mostly on charges, and it predicted a loss for the current quarter.
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Verizon Communications Inc., the nation's second largest telecommunications company, on Monday reported third-quarter earnings fell by a third from a year ago due to tax charges.
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Verizon Communications Inc. VZ.N,  the largest U.S. telecommunications company, on Thursday  reported third-quarter earnings virtually unchanged from the  year before as wireless and high-speed Internet sales offset  losses of local phone lines.
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Electronic Data Systems Corp. EDS.N  on Monday posted a higher-than-expected profit thanks to cost  cutting, but it forecast 2005 earnings would fall short of  analysts' estimates as it hopes to bring back growth by  investing $1 billion in key areas this year.
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Nike Inc. NKE.N, the world's No.   1 sport shoe and apparel maker, said on Thursday that quarterly   net profit fell 13 percent as stock-based compensation weighed   on results, but the results topped Wall Street estimates.
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Investors on Friday cheered a decision by AT&amp;T, the largest US provider of long-distance service, to eliminate more than 20 percent of its work force this year and write off $11.
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Services provider Electronic Data Systems Corp. (EDS) on Monday reported a net loss of US$153 million, or $0.30 per share, for the third quarter of this year. The report had been delayed multiple times as the company grappled with accounting issues.
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(InfoWorld) - Electronic Data SystemsÂ (EDS) has agreed to pay $490,902 to settle a U.S. Securities and Exchange Commission investigation into accounting irregularities, the agency said Tuesday. The SEC accused EDS of failing to disclose the cost of a $225 million investment banking stock deal, maintaining inaccurate financial records, and failing to disclose an "extraordinary" transaction that made up more than 25 percent of the company's cash flow in the first half of 2002. EDS, an IT service provider based in Plano, Texas, did not admit or deny wrongdoing as part of the settlement. "We're happy to put this historical matter behind us," said Robert Brand, the company's director of corporate public relations. EDS replaced its chief financial officer and former chairman and CEO Dick Brown in early 2003, after the SEC opened a formal investigation into EDS accounting practices in October 2002. Separately, the SEC said a former official of an EDS subsidiary, accused of bribing officials in India, has also agreed to settle with the agency. The SEC had accused Chandramowli Srinivasan, the former president of EDS subsidiary A.T. Kearney India, of directing a bribery scheme in which the company paid $720,000 to senior employees of Indian state-owned enterprises between early 2001 and September 2003. The purpose of the bribes was to retain A.T. Kearney India's business with the government entities, the SEC said. Srinivasan agreed to pay $70,000 to settle the SEC charges. He also did not admit or deny the SEC charges. Srinivasan's payment was part of the SEC investigation into the accounting practices at EDS, the SEC said.
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Motorola Inc. Chief Executive Ed Zander received $13.2 million in compensation in 2006, according to a proxy statement filed Friday, for a year in which the cell-phone maker boosted sales and market share but saw profits decline under pressure from rivals.