EL SEGUNDO, Calif., May 24 -- Computer Sciences Corporation (NYSE: CSC) today reported results for its fiscal 2005 fourth quarter, ended April 1, 2005. Revenue from continuing operations was $3.88 billion, up 7.9% over last year’s comparable quarter. Net earnings per share (diluted) were $2.13, including an after-tax gain of $229.5 million, or $1.19 per share, on the February 11, 2005, divestiture of selected DynCorp business units, and a special charge related to the redemption of $1 billion of term debt of $18.4 million after taxes, or 10 cents per share. Fiscal 2004 fourth quarter earnings per share (diluted) were $1.01. Fiscal 2005 results also include the impact of charges resulting from the settlement of an overtime pay class action lawsuit, which the company has recorded as operating cost.

The company has provided an earnings-per-share reconciliation as one of the attached tables (see page 12) to this press release. The earnings-per-share amounts presented in this table include non-GAAP measures and should be read in conjunction with the Consolidated Statement of Income on page 9 in which the GAAP earnings-per-share measures are presented.

Revenue growth during the quarter was driven by CSC’s global commercial activities in Europe and North America. This performance was the result of significant contract wins, particularly in Europe, in recent years. For the 12 months ended April 1, 2005, major business awards from continuing operations were up approximately 9%. CSC’s global commercial revenue also continued to benefit from favorable currency movements.

For the fourth quarter (ended April 1):

• Revenue from continuing operations was $3.88 billion, up 7.9% (approximately 6% in constant currency);
• Net income was $411.8 million, including $245.2 million from the results of and gain on discontinued operations and an $18.4 million special charge related to the debt redemption;
• Earnings per share (diluted) were $2.13, including $1.27 from the results of and gain on discontinued operations and a 10 cent special charge related to the debt redemption;
• and major new business announcements were $2.7 billion, all from continuing operations.

For the twelve months (ended April 1):

• Revenue from continuing operations was $14.06 billion, up 4.5% over fiscal 2004 (approximately 2% in constant currency);
• Net income was $810.2 million, including $313.8 million from the results of and gain on discontinued operations and the $18.4 million special charge related to the debt redemption;
• Earnings per share (diluted) were $4.22, including $1.64 from the results of and gain on discontinued operations and the 10 cent special charge related to the debt redemption;
• and major new business announcements totaled $16.8 billion, with $16 billion from continuing operations.

There were notable highlights during the fourth quarter and full fiscal year 2005.

For the fourth quarter:

• Divestiture of non-core federal activities;
• Record European revenue of $1.28 billion;
• Redemption of $1 billion of term debt;
• Announcement of Health Plans Solutions divestiture.

For the full fiscal year:

• Record major business awards from continuing operations of $16 billion;
• Debt-to-total capitalization ratio improved to 17.6% from 30% last year;
• Record annual free cash flow of $475 million.

Please read the complete Corporate Press Release.