Many have benefited from the slowdown, and CSC is one of them. With annual revenue of $16.5 billion for the year 2008, CSC’s revenues grew by 11 percent over the last fiscal. Fourth quarter revenues too grew by 11 percent, whereas net income for this period fell 28.5 percent due some restructuring charges. However, the overall net income for the fiscal year 2008 rose 37 percent.

The 11 percent (approximately 7 percent in constant currency) quarterly revenue gain above was led by CSC’s global commercial sector, which grew in excess of 16 percent (approximately 11 percent in constant currency), posting $3.01 billion compared to $2.59 billion in the year-ago quarter. U.S. commercial revenue posted a strong fourth quarter total of $1.15 billion, up 20 percent compared with $963.7 million last year. European revenue rose to $1.38 billion, up 12 percent (approximately 4 percent in constant currency) from $1.23 billion for the fourth quarter last year. CSC's non-European international revenue was $473.9 million, up 22 percent (approximately 8 percent in constant currency) compared with last year’s $388.5 million.

 “We are delighted with our record revenue and earnings,” said CSC Chairman, President and CEO, Michael W. Laphen. “On the strength of fiscal 2008 results, we continue to advance toward our strategic goal of diversifying our services portfolio. To that end, our business mix is now 35 percent North American Public Sector, 41 percent Global Outsourcing, and 24 percent Business Solutions and Services. As a result of our portfolio diversification efforts, we anticipate future improvements in our growth, profitability and cash flow.”

For the full fiscal year 2009, CSC expects revenue growth, excluding any fiscal year 2009 acquisitions, to be in the 6 to 8 percent range and earnings per share to be in the $4.20 to $4.40 range, an increase of 9 to 15 percent year-over-year.