After a significant stock drop, Electronic Data Systems said Monday that WorldCom's accounting scandal and possible bankruptcy will not impact the bottom line of the information technology services company, despite several multibillion-dollar contracts they have with WorldCom.
Since the WorldCom accounting scandal came to light last week, shares in EDS have fallen more than 35 percent. Shares were $47.50 a week ago--the day before the WorldCom news broke--and were down $6.70, or 18.03 percent, to $30.45 at the close of trading Monday.

EDS has two major contracts with WorldCom, both 11-year deals signed in 1999. One is an IT services contract worth $6.4 billion; the other is a separate network services contract valued at $6 billion.

"Although in certain downside scenarios these developments could be material to (EDS') results of operations in 2002, in most events they are not, and in any event they are not material to EDS' financial position," the company said in a press release.