PR - ACS Reports Fiscal 2007 Results; Cash Flow Up on Collections

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.

Fiscal year 2007 revenues were $5.77 billion. Excluding the divestiture of the Welfare to Workforce Services 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.

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.

ACS, a FORTUNE 500 company with more than 60,000 people supporting client operations in nearly 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients.