Computer Sciences profit up 58%

Computer Sciences Corp., which manages networks for NASA and the Navy, posted a 58% rise in fiscal third-quarter profit Monday after winning more contracts to manage U.S. business computer systems.

Net income increased to $179 million, or $1.05 a share, from $113.5 million, or 65 cents, a year earlier, the El Segundo-based company said.

Chief Executive Michael Laphen is boosting government and commercial sales and making acquisitions to expand into new markets.

In January, Computer Sciences announced that it would move its headquarters to Falls Church, Va., to be closer to Washington.

Sales increased 14% to $4.16 billion in the period ended Dec. 28, beating the $4.05-billion estimate of analysts in a Bloomberg survey.

Computer Sciences shares fell 5 cents to $42.09. They dropped 7.3% last year.

In December, Computer Sciences said annual profit would be $3.70 to $3.90 a share, compared with a prediction of as much as $4.20 in June. The company cited higher tax rates and other expenses.

Last month Computer Sciences completed its buyout of First Consulting Group Inc. for $365 million to expand into healthcare markets. In April, the company paid $1.14 billion for Covansys Corp. to add 7,000 workers in India.