Amdahl had profit in fourth quarter after a 1993 loss
Article Abstract:
Amdahl Corp reports 4th qtr 1994 net income of $40.9 million, or 34 cents per share, up from a 4th qtr 1993 loss of $40.9 million, or 36 cents per share. There were fewer outstanding shares in the year-before period. Revenue climbed 13 percent from $442.9 million to $498.7 million. Investors on the American Stock Exchange push Amdahl's stock down 37.5 cents to $11.375 on Jan 24, 1995, the day the figures are announced. CFO Bruce Ryan says that although Amdahl has experience strong demand for mainframe computers, falling prices are likely to fuel a 15 percent decline in the market in 1995. Mainframe sales increased 15 percent in 1994, due largely to pent-up demand. In the meantime, Amdahl wants to increase business in the Unix, computer-services and other markets. In 1994, Amdahl earned $74.8 million, or 63 cents per share, on revenue of $1.64 billion.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1995
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Amdahl posts big loss in 1st quarter on lower revenue, $243 million charge
Article Abstract:
Amdahl Corp reports a net loss of $239.7 million, or $2.12 per share, on revenue of $380.7 million in 1st qtr FY 1993, ending Mar 26. The results include a $243 million restructuring charge, mainly for staff cutbacks and plant closings. In 1st qtr FY 1992, Amdahl reported net income of $4.4 million, or four cents per share, on revenue of $497.9 million. Amdahl stock falls 12.5 cents to $5.50 on American Stock Exchange trading after the results are announced on Apr 28, 1993. Amdahl also announces that it will cut its annual dividend from 10 cents to five cents per share in order to save cash. Amdahl has been hurt by sagging sales of mainframe computers, even though prices have fallen an estimated 30 percent since Apr 1992. Since Feb 1993, Amdahl has announced plans to dismiss 1,250 employees.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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