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 PLANO, Texas (AP) - Electronic Data Systems Corp. said fourth-quarter profit doubled even though revenue was virtually flat, as thousands of recent layoffs and other steps helped the technology-services company cut costs.
EDS gave a mixed outlook for the future, saying that first-quarter profits would fall short of Wall Street's expectations but that full-year results would be stronger than previously thought.
The company got a boost last week when its largest customer, General Motors Corp., rehired EDS to handle much of its technology work, although rivals also made inroads. Still, the company's full-year profit and revenue fell from 2004.
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