Atos Origin 1Q Revenue Drops; Confirms 2010 Targets
14 April 2010 - 3:42PM
Dow Jones News
French IT services group Atos Origin (ATO.FR) Wednesday reported
a 4.9% drop in first-quarter revenue but confirmed its full-year
target.
The Paris-based company, which manages the IT systems for the
Olympic Games, said that in 2010 it still wants to improve its
operational margin by between 50 and 100 basis points, despite an
expected drop in organic revenue this year due to the bankruptcy of
German department store retailer Arcandor.
Revenue for the quarter ended March 31 was EUR1.23 billion, down
from EUR1.29 billion in the same period last year, due notably to a
decline in consulting activities.
The figure was in line with an average EUR1.23 billion forecast
by five analysts polled by Dow Jones Newswires.
On an organic basis, stripping out acquisitions, disposals and
currency movements, revenue fell 5.5% in the first quarter, Atos
said in a statement.
Along with rivals Capgemini (CAP.FR) and U.K.-based Logica PLC
(LOG.LN), the company has been fighting tough market conditions
since last year, as big customers have delayed investment and
purchasing plans amid the financial and economic crisis.
Atos shares on Tuesday closed at EUR37.77. The stock has gained
about 18% since the start of the year.
-By Ruth Bender, Dow Jones Newswires; +33 1 40 17 17 54;
ruth.bender@dowjones.com
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