Perot Systems 8-K Perot Systems Reports Second Quarter 2008 Financial Results

Exhibit 99.1

—Perot Systems News Release—

Perot Systems Corporation
2300 West Plano Parkway
Plano, TX 75075
+1 972 577 0000
www.perotsystems.com

Media Contacts:
Perot Systems Corporation

Joe McNamara
+1 972 577-6165
joe.mcnamara@ps.net

Investor Contact:

John Lyon
+1 972 577-6132
+1 972-577-6791 fax
john.lyon@ps.net

Perot Systems Reports Second Quarter 2008
Financial Results

Plano, Tx — July 28, 2008 — Perot Systems Corporation (NYSE: PER) today announced second quarter 2008 financial results:

• Revenue was $705 million, an increase of 11% year-to-year over second quarter 2007 revenue of $635 million.

• Earnings per share (diluted) was $.24, an increase of 33% over second quarter 2007 earnings per share (diluted) of $.18.

• Operating profit margin expanded year-to-year by one percentage point to 6.7% for the second quarter of 2008.

• New contract signings totaled $261 million for the second quarter of 2008, bringing the total value of new contracts signed during the past twelve months to $1.8 billion.

• Operating Cash Flow and Capital Expenditures for the second quarter of 2008 totaled $60 million and $13 million, respectively. Trailing twelve month Operating Cash Flow and Capital Expenditures were $220 million and $54 million, respectively.

• As of June 30, 2008, Cash totaled $196 million. During the second quarter of 2008, Perot Systems reduced amounts outstanding on its line of credit by $30 million. Debt totaled $186 million as of June 30, 2008.

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“On a foundation of strong client relationships, solutions that address market needs, and a sound operating model, our business continues to prosper,” said Peter Altabef, president and CEO of Perot Systems. “Revenue, earnings, profit margins, and cash flow increased during the quarter as we continue to win new business and expand existing relationships. Overall, it was a productive quarter where we continued to advance our business.”

Trend Information and Business Outlook

For the third quarter of 2008, Perot Systems expects revenue to range from $700 million to $715 million. Perot Systems expects to realize a revenue contribution between the second quarter and third quarter from new sales and recent acquisitions, partially offset by slightly higher pass-through revenue in the second quarter of 2008. Earnings per share (diluted) for the third quarter of 2008 is expected to range from $.23 to $.25.

Conference Call

Perot Systems will hold a conference call to review second quarter 2008 results of operations on July 29, 2008, at 10:15 a.m. EDT. Parties interested in participating may join the conference call via the Internet at www.perotsystems.com. Additionally, Perot Systems has published a downloadable summary of its second quarter 2008 financial results at www.perotsystems.com.

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Perot Systems Corporation
Condensed Consolidated Income Statements
For the Three Months Ended June 30, 2007 and 2008
(Millions of USD, except per share amounts)
Unaudited

	Three Months Ended
	June 30
	2007			2008
Revenue	$	635		$	705
Direct cost of services		529			585
Gross profit		106			120
Selling, general & admin		70			73
Operating income		36			47
Other income, net		1			1
Interest expense, net		(1	)		(1	)
Income before taxes		36			47
Provision for income taxes		13			17
Net income	$	23		$	30
Earnings per share (diluted) data:
Earnings per share (diluted)	$	.18		$	.24
Shares outstanding (diluted)		125			121

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Perot Systems Corporation
Revenue Summary
For the Three Months Ended June 30, 2008
(Millions of USD)
Unaudited

	Revenue
2Q 2007	$	635
Growth/(Decrease) Related to:
New contracts		22
TTM acquisitions1)		20
Accounts		4
Industry Solutions		46
Government Services		16
Existing operations2)		15
TTM acquisitions3)		2
Consulting & Applications Solutions, gross2)		17
Inter-segment eliminations4)		(9	)
2Q 2008	$	705

				Year-to-
				Year			% of
	Revenue			Growth			Total
Healthcare	$	328			3	%		46	%
Commercial		154			30	%		22	%
Industry Solutions1)		482			11	%		68	%
Government Services		161			11	%		23	%
Consulting and Applications Solutions, gross2) 3)		92			23	%		13	%
Inter-segment eliminations4)		(30	)		43	%		(4	%)
Total	$	705			11	%		100	%

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Perot Systems Corporation
Condensed Consolidated Balance Sheets
As of December 31, 2007 and June 30, 2008
(Millions of USD)
Unaudited

	As of		As of
	12/31/2007		6/30/2008
Cash and cash equivalents	$	187	$	196
Short-term investments		23		—
Accounts receivable, net		477		487
Prepaid expenses and other		70		97
Total current assets		757		780
Property, equip. & software, net		235		225
Goodwill		713		727
Other non-current assets		195		208
Total assets	$	1,900	$	1,940
Current liabilities	$	330	$	347
Long-term liabilities		327		319
Stockholders’ equity		1,243		1,274
Total liabilities & stockholders’ equity	$	1,900	$	1,940

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Perot Systems Corporation
Condensed Consolidated Statements of Cash Flows
For the Three Months Ended June 30, 2007 and 2008
(Millions of USD)
Unaudited

	Three Months Ended
	6/30/2007			6/30/2008
Net income	$	23		$	30
Depreciation and amortization		26			28
Changes in assets and liabilities (net of effects from acquisitions of businesses) and other non-cash items		(33	)		2
Net cash provided by operating activities		16			60
Purchases of property, equipment & software		(27	)		(13	)
Acquisitions of businesses, net		(8	)		(21	)
Proceeds from sale of short-term investments, net		21			—
Other investing, net		1			(1	)
Net cash used in investing activities		(13	)		(35	)
Repayment of long-term debt5)		—			(32	)
Proceeds from issuance of common stock		5			4
Proceeds from issuance of treasury stock		—			3
Other financing activities		3			—
Net cash provided by (used in) financing activities		8			(25	)
Effect of exchange rate changes on cash		2			(5	)
Net cash flow	$	13			($5	)

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Footnotes

1. During the past twelve months, Perot Systems acquired JJWild, Inc. (JJWild) and HighQ^IT for the manufacturing industry GmbH (HighQ^IT). These acquisitions contributed $20 million of revenue for the second quarter of 2008, which is reported in the Industry Solutions line of business. Within Industry Solutions, JJWild is reported in Healthcare, and HighQ^IT is reported in Commercial.

2. Gross revenue measures all services provided by Consulting and Applications Solutions, both direct-to-market and through our other lines of business.

3. During the past twelve months, Perot Systems acquired Original Solutions Limited. This acquisition contributed $2 million of revenue for the second quarter of 2008, which is reported in the Consulting and Applications Solutions line of business.

4. Inter-segment eliminations relate to the revenue associated with services provided by Consulting and Applications Solutions to our other lines of business.

5. During the second quarter of 2008, Perot Systems made payments to reduce amounts outstanding on its line of credit by $30 million. The remaining reduction to debt relates to other debt repayment in the ordinary course of business.

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About Perot Systems

Perot Systems is a worldwide provider of information technology services and business solutions. Through its flexible and collaborative approach, Perot Systems integrates expertise from across the company to deliver custom solutions that enable clients to accelerate growth, streamline operations and create new levels of customer value. Headquartered in Plano, Texas, Perot Systems reported 2007 revenue of $2.6 billion. The company has more than 23,000 associates located in the Americas, Europe, Middle East and Asia Pacific. Additional information on Perot Systems is available at http://www.perotsystems.com/.

This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. For factors that could affect our business and cause actual results to differ materially, please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2007, as filed with the U.S. Securities and Exchange Commission and available at http://www.sec.gov/, as updated in our Quarterly Reports on Form 10-Q filed after such Form 10-K, for additional information regarding risk factors. We disclaim any intention or obligation to revise any forward- looking statements whether as a result of new information, future developments, or otherwise.

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