Unisys: Computer Solutions and Services Worldwide Message Board

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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: jopawa who wrote (2232)	1/14/1999 3:28:00 PM
From: jopawa	of 2818

Thursday January 14 12:02 PM ET Unisys Net Rises 60 Percent, Led By Services Gains BLUE BELL, Pa. (Reuters) - Unisys Corp. (NYSE:UIS - news) on Thursday posted fourth quarter net income of $139 million, up 60 percent from the year-ago quarter, as the long-time mainframe computer maker showed solid progress on its transformation into a computer services firm. The company earned 42 cents per diluted share in the fourth quarter compared to 25 cents per share before charges in the year-ago quarter. The $1.1 billion in charges, mostly tied to writing off goodwill owing from Unisys' creation in 1986, led it to report a loss of $4.75 a share in final 1997 quarter. The latest quarter's results were 2 cents per share ahead of Wall Street's consensus expectations of 40 cents per share, according to First Call, which compiles brokerage estimates. Revenue in the fourth quarter grew 8 percent to $2.05 billion from $1.90 billion a year ago, while its estimated backlog of services contracts rose to $3.4 billion at the end of 1998 compared to $2.9 billion at the end of 1997. Unisys said revenues in its Information Services business rose 15 percent in the quarter, with strong order gains. Its Global Customer Services unit grew 6 percent as double-digit growth in personal computer services offset a drop in mainframe maintenance revenue. Its computer hardware business grew 3 percent in the quarter, weighed down by difficult comparisons after exiting the personal computer business last year. Looking forward, Unisys Chairman and CEO Larry Weinbach said the company remained committed in 1999 to generating earnings growth at twice the rate of revenue growth and that he had confidence the company can meet such financial goals.

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