Computer Sciences signs pact to provide technical services to General Dynamics

Article Abstract:

Computer Sciences Corp will provide technical services to General Dynamics Corp's aerospace and defense units under a 10-year information technology services contract that could be worth over $3 billion. Technical services to be offered include data center management, network operations and systems analysis. Under the contract, General Dynamic's 2,600 data systems division employees will move to Computer Sciences. Computer Sciences will, in turn, pay General Dynamics about $200 million for its three data processing centers and 28 service sites nationwide. The agreement will allow Computer Sciences to provide services to other commercial customers and shift the company's business mix to about 50 percent government contracts and 50 percent commercial business, from the 70 percent government and 30 percent commercial contracts it previously had.

Computer integrated systems design, Computer services industry, Information technology services industry, Contracts, General Dynamics Corp., GD, Computer systems integrators, Systems integration, Computer Sciences Corp., CSC, Computer Services, Computer Systems Integrator, Computer systems integration

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Micrografx expects fourth-period loss, discloses possible criminal acts at unit

Article Abstract:

Micrografx Inc announces that it expects a large 4th qtr FY 1993 loss. The company also announces the resignation of its chief financial officer and reports possible criminal mismanagement at Micrografx K.K., the company's Japanese unit. In the first nine months of FY 1993, Micrografx posted a profit of $1.7 million, or 17 cents per share; now, however, Micrografx CEO and Chmn J. Paul Grayson predicts a sizable loss for the 4th qtr, ending Mar 31, and the year. The company plans to take a $8 million to $10 million charge in the quarter to cover the cost of slashing about 70 jobs from its 350-person workforce. Micrografx CFO and Executive VP David Henkel plans to resign shortly, but no reason is given for the sudden decision. The parent company is investigating the alleged fraud at the Japanese unit.

Prepackaged software, Computer software industry, Software industry, Finance, Appointments, resignations and dismissals, Chief financial officers, Outlook, Mismanagement, Losses, Resignation, Micrografx Inc., Fourth Quarter, MGXI, Henkel, David

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