|
Unisys tops 4Q forecast
|
 |
January 18, 2000: 10:09 a.m. ET
Company beats consensus estimate by a penny despite slight revenue drop
|
NEW YORK (CNNfn) - Despite an expected decline in revenue resulting from negative foreign currency translation, Unisys Corp. reported higher fourth-quarter earnings Tuesday that narrowly topped Wall Street's expectations.
The Blue Bell, Pa.-based technology systems integrator earned $144.4 million, or 46 cents per diluted share, for the quarter, up from $135.7 million, or 40 cents per share, a year earlier.
The latest results exceeded the consensus analysts' estimate of 45 cents per share, as complied by research firm First Call Corp.
The profit gain came despite a nearly 5 percent drop in quarterly revenue to $1.96 billion due to unfavorable foreign currency translations in overseas markets, as company officials warned it might. On a constant currency basis, however, Unisys' revenue increased approximately 1 percent for the quarter, although total worldwide orders were essentially flat during the period.
Company officials attributed the earnings increase to a slightly higher gross margin in its service business and lower expenses.
For the year, Unisys earned $510.7 million, or $1.56 per share, compared with $376.4 million, or $1.01 per share, a year earlier. Revenue rose to $7.54 billion from $7.24 billion.
Unisys (UIS) shares opened down 1-3/8 to 29-3/8 early Tuesday. 
|
|
|
|
|
|
Unisys Corp.
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
