First Consulting Wins $100-Million Contract
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First Consulting Group Inc. shares rose 22% after the Long Beach-based consultant and Affiliated Computer Services said they won a $100-million, five-year contract to manage University of Pennsylvania Health Systems’ computer services and software. First Consulting’s shares rose $1.69 to close at $9.44 on Nasdaq. First Consulting, which provides services to hospitals and pharmaceutical companies, will receive $23 million in the first year of the contract. The company had 1999 revenue of $238 million. Dallas-based Affiliated Computer will receive $31 million as a subcontractor.
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