Advertisement

Perot Expects Costs in Probe

June 10, 2002|From Bloomberg News

PLANO, Texas — Perot Systems Corp., the computer-services company founded by H. Ross Perot, said Sunday it will have expenses from an investigation of its role in California's electricity markets.

The company expects to earn 71 cents to 76 cents a share this year, before the effect of nonrecurring expenses related to this investigation. Spokeswoman Mindy Brown Malooly declined to elaborate on the amount and the nature of the expenses.

State Sen. Joe Dunn (D-Santa Ana) has said the company may have given traders such as Enron Corp. and Reliant Energy Inc. a road map on how to profit from loopholes. Perot Systems designed parts of the bidding system.

Shares of Perot Systems rose $1.26 to $14.16 on the New York Stock Exchange on Friday.

Advertisement
Los Angeles Times Articles
|
|
|