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Affiliated Computer Services Inc (2135) SEC Filing 10-K Annual report for the fiscal year ending Saturday, June 30, 2007

Affiliated Computer Services Inc

HISTORY TOOLS
CIK: 2135
 

Exhibit 99.1
(ACS LOGO)
FOR IMMEDIATE RELEASE
         
  Investor Contact   Media Contact  
 
Jon Puckett
  Kevin Lightfoot  
 
Vice President
  Vice President  
 
Investor Relations
  Corporate Communications  
 
Affiliated Computer Services, Inc.
  Affiliated Computer Services, Inc.  
 
214-841-8281
  214-841-8191  
 
jon.puckett@acs-inc.com
  kevin.lightfoot@acs-inc.com  
ACS Announces Fourth Quarter and Fiscal Year 2007 Results;
Company Generates Record Revenues and Cash Flow in Fourth Quarter
DALLAS, TEXAS: August 21, 2007 – Affiliated Computer Services, Inc., (NYSE: ACS) today announced fourth quarter fiscal year 2007 revenues of $1.52 billion, a 10% increase compared to the prior year quarter. The Company’s internal revenue growth rate for the quarter accelerated to 7%.
Fourth quarter fiscal year 2007 adjusted non-GAAP diluted earnings per share was $0.88, a 21% increase over the prior year fourth quarter adjusted non-GAAP diluted earnings per share of $0.73. See “Reconciliation of Reported GAAP Results to Adjusted Non-GAAP Results” below.
Fiscal year 2007 revenues were $5.77 billion. Excluding the divestiture of the Welfare to Workforce Services (“WWS”) business, total revenue growth was 10% compared to the prior fiscal year. The Company’s internal revenue growth rate for the year was 5%.
Fiscal year 2007 adjusted non-GAAP diluted earnings per share was $3.12, an 11% increase over the prior year adjusted non-GAAP diluted earnings per share of $2.80. See “Reconciliation of Reported GAAP Results to Adjusted Non-GAAP Results” below.
Fourth quarter operating cash flow and free cash flow were both company records. Cash flow from operations for the fourth quarter of fiscal year 2007 was approximately $343 million, or 23% of revenue. Free cash flow during the fourth quarter was approximately $253 million, or 17% of revenue. This quarter’s record cash flow results were primarily driven by improved accounts receivable collections and overall working capital management.
Lynn Blodgett, ACS’ President and Chief Executive Officer, said, “I am proud of our dedicated employees and their efforts that drove our strong finish to the year. Despite non-operational distractions, we generated record company revenues for the year, significantly improved our client renewal rates, and enjoyed outstanding cash flow results. We are focused on running our business, growing revenues and profit, and emphasizing innovation in our offerings.

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The following information was filed by Affiliated Computer Services Inc on Tuesday, August 21, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Affiliated Computer Services Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2007 10-K Annual Report includes:

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SEC Filing Tools
CIK: 2135
Form Type: 10-K Annual Report
Accession Number: 0000950134-07-019225
Submitted to the SEC: Wed Aug 29 2007 4:05:49 PM EST
Accepted by the SEC: Wed Aug 29 2007
Period: Saturday, June 30, 2007
Industry: Computer Processing And Data Preparation

External Resources:
SEC.gov

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