Shares of information technology services company Computer Sciences Corp. (NYSE: CSC) rallied in morning trading Tuesday after the firm said it had signed $1.28 billion in previously unannounced federal contracts.
The firm said Monday that its federal business unit signed 62 contracts between in its fiscal 2007 fourth quarter, which ended on March 30. Shares of the firm rose $2.06, or 4 percent on the New York Stock Exchange.
The contracts will include provision of a wide range of information technology services for the Departments of the Navy, Army and Air Force; the Missile Defense Agency; Health and Human Services; the Environmental Protection Agency and the Department of State.
The agreement includes 28 civil agency contracts worth $811 million. Department of Defense agency contracts accounted for 34 awards with a total value of approximately $474 million, according to the firm.
The contract award figures include all options if exercised, CSC said.