Perot Systems second quarter profit slides

Source: Perot Systems

Perot Systems Corporation (NYSE: PER) today announced financial results for the second quarter of 2006.

For the quarter:

  • Revenue was $572 million, an increase of 17% year-to-year over second quarter 2005 revenue of $488 million, and includes $25 million of revenue growth, equal to five percentage points, from acquisitions completed during the past twelve months
  • Earnings per share (diluted) was $.21
  • New contract signings totaled $281 million for the quarter, bringing the total value of new contracts signed during the past 12 months to $1.8 billion
  • Operating Cash Flow and Capital Expenditures for the second quarter of 2006 totaled $45.4 million and $19.0 million, respectively. Trailing Twelve Month Operating Cash Flow and Capital Expenditures were $165.4 million and $73.1 million, respectively. During the second quarter of 2006, Perot Systems repurchased approximately 1.2 million shares of its common stock for $16.5 million at an average price per share of $13.97, increasing the total number of shares repurchased under the current authorization to 4.3 million at a total cost of $58.7 million
  • Cash and Cash Equivalents totaled $250.7 million as of June 30, 2006

"We had a productive quarter, reporting healthy sequential revenue and profit growth, successfully winning new business and advancing potential sales opportunities," said Peter Altabef, president and CEO of Perot Systems. "With our revenue coming predominantly from areas with attractive growth characteristics, we continue to be well positioned for further business expansion. This market position, sound execution, and successful implementation of targeted profit improvement actions are the keys to our success."Download the document now 37.9 kb (Adobe Acrobat Document)

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