COMPUTER SCIENCES DECLINES ON U.K. HEALTH-CONTRACT WRITEDOWN
December 27, 2011, 12:52 PM EST
By Beth Jinks
Dec. twenty-seven (Bloomberg) — Computer Sciences Corp., a technology executive for governments and companies, fell after observant it will write down the investment in a U.K. stipulate by as most as $1.5 billion as the agreement is being renegotiated.
CSC, based in Falls Church, Virginia, declined 6.4 percent to $24.79 at 10:07 a.m. New York time after dropping as most as 9.6 percent. It had mislaid 47 percent this year prior to today.
The association will correct the forecasts for mercantile 2012 and book a “material impairment” in the third entertain finale this month that could sum all of the $1.5 billion it has outlayed on a U.K. electronic patient-records contract, according to a regulatory filing. CSC said it may catch one more costs based on contract-amendment negotiations.
In May, U.K. Prime Minister David Cameron pronounced the supervision wouldn’t pointer any more contracts with CSC until reviews are accomplished of how it longed for deadlines on the work on a national computer complement for the National Health Service, which aims to centrally control annals for each patient.
A row of U.K. lawmakers in Aug endorsed tighten hearing of the negotiations over behind work.
–Editors: Ville Heiskanen, Romaine Bostick
To contact the contributor on this story: Beth Jinks in New York at bjinks1@bloomberg.net
To contact the editor obliged for this story: Peter Elstrom in New York at pelstrom@bloomberg.net
December 27, 2011, 12:52 PM EST
By Beth Jinks
Dec. twenty-seven (Bloomberg) — Computer Sciences Corp., a technology executive for governments and companies, fell after observant it will write down the investment in a U.K. stipulate by as most as $1.5 billion as the agreement is being renegotiated.
CSC, based in Falls Church, Virginia, declined 6.4 percent to $24.79 at 10:07 a.m. New York time after dropping as most as 9.6 percent. It had mislaid 47 percent this year prior to today.
The association will correct the forecasts for mercantile 2012 and book a “material impairment” in the third entertain finale this month that could sum all of the $1.5 billion it has outlayed on a U.K. electronic patient-records contract, according to a regulatory filing. CSC said it may catch one more costs based on contract-amendment negotiations.
In May, U.K. Prime Minister David Cameron pronounced the supervision wouldn’t pointer any more contracts with CSC until reviews are accomplished of how it longed for deadlines on the work on a national computer complement for the National Health Service, which aims to centrally control annals for each patient.
A row of U.K. lawmakers in Aug endorsed tighten hearing of the negotiations over behind work.
–Editors: Ville Heiskanen, Romaine Bostick
To contact the contributor on this story: Beth Jinks in New York at bjinks1@bloomberg.net
To contact the editor obliged for this story: Peter Elstrom in New York at pelstrom@bloomberg.net