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Technology Stocks : Unisys: Computer Solutions and Services Worldwide
UIS 2.885-1.7%3:59 PM EST
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To: Daflye who wrote (2222)1/14/1999 8:47:00 AM
From: jopawa  Read Replies (1) of 2818
 
Finally, Bloomberg's take on the earnings.





Unisys 4th-Qtr Profit Rises 59 Percent on Service Business

Unisys 4th-Qtr Profit Rises 59 Percent on Service Business
Blue Bell, Pennsylvania, Jan. 14 (Bloomberg) -- Unisys Corp.'s fourth-quarter earnings rose 59 percent as the seventh- largest U.S. contract provider of computer services reported growth in its business of managing corporate networks.

Profit rose to $138.6 million, or 42 cents a share, from $86.9 million, or 25 cents, before a charge a year ago. Unisys was expected to earn 40 cents, the average estimate of analysts surveyed by First Call Corp. Revenue rose 7.9 percent to $2.05 billion from $1.9 billion.

Blue Bell, Pennsylvania-based Unisys has sped its transformation from a mainframe to a services company since Larry Weinbach became chairman and chief executive in 1997. More than two-thirds of the company's sales come from services. ''(Services) are a big reason for a strong picture this quarter,'' said James Corridore, an analyst at Standard & Poor's Rating Services, who rates Unisys an ''accumulate.'' ''They're pushing all the right buttons now.''

Unisys shares fell 15/16 to 33 7/16 yesterday.






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