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Computer Sciences Corporation (NYSE:CSC) recently reported its third quarter earnings and discussed the following topics in its earnings conference call.
Free Cash Flow Expectations
Julio Quinteros – Goldman Sachs: On the comments around fiscal ’14, the $3.30 consensus; how should we frame the free cash flow expectations for fiscal ’14 around the $3.30 EPS?
Paul N. Saleh – VP and CFO: I think there’s still some more work to be done, but I would say would be probably more in the $400 million to $500 million of free cash flow at this time.
The Settlement Benefit
Moshe Katri – Cowen & Company: Paul, can you kind of going back to some of the non-recurring items for the quarter? Can you kind of list facilities, including the charges and the settlement benefit?
Paul N. Saleh – VP and CFO: We mentioned the NPS, we had settlement of $22 million, which was a benefit of about $0.10. We had the restructuring of $0.26, which was about $0.12 impact on the quarter and interest expense was also about $19 million, that was for the early termination of debt and that was about $0.09 impact. Then also the tax rate, it was $0.11 impact of benefit in the quarter. Keep in mind again, all of these numbers exclude credit services, so we are just literally with the new guidance offsetting the absence of credit services in our numbers.
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