Perspecta Announces Financial Results for Fourth Quarter and Fiscal Year 2019
Revenue: $1.09 billion for fourth quarter; $4.03 billion for fiscal year ($4.27 billion pro forma)
Diluted EPS: $(0.12) for fourth quarter; $0.44 for fiscal year
Adjusted Diluted EPS: $0.54 for fourth quarter; $2.00 pro forma for fiscal year
Operating Cash Flow: $168 million for fourth quarter; $462 million for fiscal year
Adjusted Free Cash Flow: $136 million for fourth quarter; $420 million pro forma for fiscal year
Above the high end of guidance on all metrics
Bookings: $1.4 billion (1.2x book-to-bill) for fourth quarter; $6.8 billion (1.6x book-to-bill) for fiscal year
Fiscal year 2020 guidance reflects accelerating revenue and robust margins
Chantilly, Va., June 6, 2019 - Perspecta Inc. (NYSE:PRSP), a leading U.S. government services provider, today announced financial results for the fourth quarter and fiscal year 2019 ended March 31, 2019.
“As we complete our first year as Perspecta, I want to thank all of our employees who came together to make the year such a success,” said Mac Curtis, president and chief executive officer, Perspecta. “By never losing sight of the missions we support, they ensured that every one of our financial results was ahead of the top end of the guidance we laid out last year. Each day, we are proving the primary thesis behind creating Perspecta—that the innovation, end-to-end capabilities, and scale that we can bring to our customers would drive enhanced performance. The ‘Power of the Pyramid’ is reflected in our accelerating financial results and robust bookings that provide a solid foundation for fiscal year 2020.”
With the one-year anniversary of its initial listing on the NYSE, Perspecta plans to file a shelf registration on Form S-3 to register the 23,273,341 shares of Perspecta Inc. common stock owned by Veritas Capital Fund Management, L.L.C. and certain of its affiliates (Veritas Capital). The filing replaces the existing shelf registration on Form S-1, filed on November 14, 2018, and eliminates the requirement to file prospectus supplements to incorporate updated financial statements going forward. The registration of the shares of common stock does not require Veritas Capital to sell any of its shares, and no new shares of common stock will be issued by Perspecta as part of any offering off of the shelf registration statement.
The following information was filed by Perspecta Inc. (PRSP) on Thursday, June 6, 2019 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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Ticker: PRSP CIK: 1724670 Form Type:10-K Annual Report Accession Number: 0001724670-19-000059 Submitted to the SEC: Thu Jun 06 2019 5:28:17 PM EST Accepted by the SEC: Thu Jun 06 2019 Period: Sunday, March 31, 2019 Industry: Computer Processing And Data Preparation