Have any of the analysts who track IT Services companies worked out how much of the increase in CSC's reported increase in EPS is due to the stock buy back that cost the company billions of dollars?
I'll bet they haven't.
Put the EPS story to one side and you have a company going nowhere for three years that is bolstered by US Federal contracts, and of course the overblown, over priced, under delivered, yet very profitable for some, but not the English tax payer, UK NHS IT programme. I would venture to guess that without NHS IT CSC Europe would have to close down (so would iSoft), and without Obama's deep pockets CSC US would be in the toilet.
Come on analysts run the numbers and speak up.