Technology services giant Electronic Data Systems on Monday delayed its earnings report while it considered taking another charge related to its. EDS, which was expected to discuss its third-quarter earnings Monday, said it would release financial results Nov. 3. The postponement "will enable the company and its auditors to complete the evaluation of a possible impairment of assets related to its Navy Marine Corps Intranet (NMCI) account," EDS said in a statement.
NMCI,to upgrade the U.S. Navy's computer and communication systems has been delayed for reasons that include "inefficient program management," according to EDS. Earlier this year, EDS wrote down $559 million related to the Navy deal. EDS' current evaluation "includes a review of projected cash flow over the expected lives of the assets used on the contract as compared to the net asset position of approximately $700 million on Sept. 30."