2 computer companies post profits

Article Abstract:

Unisys Corp and Data General Corp report profits for the 1991 4th qtr, a report that bucks the trend among computer makers during the recession. The profitable report from Unisys, which was $80.5 million or 31 cents per share, was the first profit from the number-three computer maker in two years. Even the most optimistic industry analysts expected near 15 cents per share; the stock rose $1.25 a share on Jan 23, 1992 to close at $7 a share. Data General Corp's report, which claimed a profit of $4 million or 12 cents per share, was not up to snuff though and that company's stock fell $3.875 a share to close at $12.125 a share on Jan 23, 1992. Data General has posted profits for five consecutive quarters after suffering years of layoffs and losses.

Computer peripheral equipment, not elsewhere classified, Profits, Data General, Outlook, Profit, Financial Report, DGN, Fourth Quarter, First Quarter

---

Unisys, struggling with big debt load, sells preferred stock to Japanese firm

Article Abstract:

Unisys Corp sold $150 million of preferred stock to Mitsui and Co that can be converted to 4.6 percent of Unisys's common stock outstanding. Unisys also arranged a $50 million, five-year loan from the large Japanese trading company. Unisys plans to cut its debt by $600 million to $800 million in 1990, from about $4 billion, or 50 percent of total capitalization, at the end of 1989. Unisys reported a loss of $3.1 million, or 19 cents a share, for the 1st qtr of 1990, and analysts expect the company to break even for the 2nd qtr. Earnings for the second half of 1990 are expected to improve and a $1 to $2 a share increase for 1990 is expected. Unisys stock closed at $13.125 a share, down 50 cents, on Jun 26, 1990.

Investments, Business planning, Debt, Computer Industry, Mitsui and Company Ltd. (Tokyo, Japan)

---

A further reduction for Unisys: computer maker plans a stock offering to sell its military business

Article Abstract:

Unisys Corp will divest its military electronics operation in an $800 million stock offering. Unisys had been seeking a buyer for more than a year, but the company has been unsuccessful. Unisys, which owed $3.8 billion in debt at the end of Jun 1991, has experienced problems with its computer business, but at least one industry analyst is optimistic, believing that an improved financial situation will help. The planned offering envisions a new military electronics business called Paramax Inc. The stock would sell for $22 to $25 a share, so that Unisys would get $440 million to $500 million. Unisys would also get $332 million in cash from Paramax.

Divestiture, Divestment, Electronic Industry, Military, Public Offerings

Similar abstracts:

• Abstracts: 4 major phone companies report increased profits. United Telecom falls 55% and stock plunges; GTE gains. GTE profits up 20.2 percent; United Telecom down
• Abstracts: Wang is all set to try again; a former giant computer maker quits hardware. Saving Wang, a challenge even for superman
• Abstracts: Chips and Technologies is target of suit by Intel. Decision mixed over Intel chip; but Advanced Micro entitled to damages
• Abstracts: For the PC user, vast libraries: and getting the data will be simplified. A maverick scientist gets an I.B.M. tribute
• Abstracts: An unlikely underdog: I.B.M. must play catch-up with Microsoft as it begins to ship improved software. Lilliputian rival of desktops offered by Hewlett-Packard

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.