Perspecta beats by $0.03, beats on revs; guides FY20 EPS above midpoint, raises low end of rev outlook
Reports Q2 (Sep) earnings of $0.54 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.51; revenues rose 9.7% year/year to $1.17 bln vs the $1.11 bln S&P Capital IQ Consensus.
Perspecta's backlog of signed business orders at the end of second quarter of fiscal year 2020 was $12.7 billion; funded backlog at the end of the second quarter was $2.0 billion.
Contract awards (bookings) totaled $2.3 billion in the second quarter of fiscal year 2020, representing a book-to-bill ratio of 2.0x.
Co issues in-line guidance for FY20, sees EPS of $2.08-2.18, excluding non-recurring items, vs. $2.09 S&P Capital IQ Consensus; sees FY20 revs of $4.425-4.50 (Prior $4.4-4.5 bln) vs. $4.47 bln S&P Capital IQ Consensus.
