NMCI analysis delays EDS earnings
- By Michael Hardy
- Oct 27, 2004
EDS officials will delay the release of their latest quarterly earnings report until Nov. 3 so they can complete an analysis of the effect that the Navy Marine Corps Intranet contract has had on the company's assets.
The company had been scheduled to release the earnings report Oct. 26. But EDS officials need more time to finish an assessment of projected cash flow from NMCI during the life span of the $775 million worth of technology assets that EDS has provided for the program, company officials said.
Earlier this month, Navy officials cut the number of service-level agreements that they expect EDS officials to meet from 44 to seven in an effort to make the massive network services contract less cumbersome. EDS officials had said in earlier financial reports that such a streamlining was necessary to staunch the massive losses that EDS has taken on the contract.