Unisys' strong second-quarter results give credence to reports of turnaround
Article Abstract:
Unisys Corp reports a profit for the 2nd qtr of 1992 of $105.4 million, or 46 cents a share, which compares with a loss of $1.3 billion, or $8.24 a share, in 1991 that included a $1.2 billion charge for restructuring. Unisys's good news is evidence that Unisys has managed to turn itself around after two years of losses. For a time, industry observers speculated that Unisys might not survive. Unisys has implemented severe cost-cutting measures and reduced its work force by about 20 percent. Operating expenses are down 11 percent compared with the year-earlier quarter. Unisys CEO James Unruh is pleased and very optimistic about his company's future. Unisys's shares closed unchanged, at $9.75, on heavy volume.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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IBM earnings rose by 27% in 3rd quarter; performance barely meets estimates; stock off $1; few clues about future
Article Abstract:
IBM reports a 27 percent increase in 3rd qtr earnings. The comparison was, however, made against a depressed year-earlier quarter, and IBM's performance this time only matched expectations. John Akers, IBM's chairman, predicts 'substantially improved performance for 1990,' but he adds that his prediction 'assumes no further deterioration in the world's economies.' For its latest quarter, IBM's net income rose to $1.11 billion, or $1.95 a share, from $877 million, or $1.51 a share, in the comparable period a year earlier. Revenue rose 6.8 percent, to $15.28 billion, from $14.31 billion.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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- Abstracts: Unisys' $648.2 million 3rd-period loss shows intensified fight for turnaround. Unisys restructuring is called likely to restore profitability but slow growth
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