Perspecta reports flat sales, lower profit

By Marjorie Censer / August 7, 2020 at 1:41 PM

Perspecta said this week sales during its most recent quarter hit $1.1 billion, up 1% from the same three-month period a year earlier.

The company said it saw a COVID-19 impact of about $23 million to sales during the quarter.

Perspecta reported a loss during the quarter of $3 million, down from $31 million in quarterly profit the prior year.

"The year-over-year decrease in profitability was primarily due to lower asset intensity, an increased mix of cost-reimbursable programs and an $8 million COVID-19 impact," the company said.

In a call with analysts Thursday, Mac Curtis, Perspecta's chief executive, said the company has mainly see COVID-19 affect its intelligence business.

While the pandemic affected sales and profit, the company is also "starting to see program starts and deal flow delays within the intelligence business," he said.