Unisys had big deficit in 3d quarter; loss at $356.8 million; computer maker plans to eliminate 5,000 jobs

Article Abstract:

Unisys Corp reports a 3rd qtr 1990 deficit of $356.8 million and plans to eliminate 5,000 jobs. The computer maker claims a slow in demand in the global computer market contributed to the loss; the company also took a $181 million reduction charge for the 3rd qtr 1990, which ended Sep 10, 1990. The plans to cut jobs, along with other cost-cutting measures, is expected to save the company around $200 million a year. Revenue for the 3rd qtr of 1990 was $2.4 billion, compared with $2.35 billion for the same period in 1989. Unisys is expected to take a 4th qtr 1990 loss and a weakening US economy could hamper its attempt to reduce a $2.59 billion long-term debt. The company states that it will be difficult to reduce its debt by $600 million to $800 million in 1990,

Business planning, Layoffs, Layoff, Financial Stability

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Unisys reports a profit for 4th consecutive quarter

Article Abstract:

Unisys Corp reports a net income of $68.3 million or 23 cents a share for 3rd qtr FY 1992. The company had posted losses of $75.8 million in the same quarter of 1991. Total revenues amounted to $2.07 billion, compared with the company's $1.97 billion one year earlier. Company Chmn and CEO James A. Unruh cites these impressive statistics as evidence of the company's sustained profitability. Growth from commercial computer systems and services was slightly offset by sluggish business in the Paramax military contracting subsidiary. A major restructuring has helped the company regain its financial stability.

Prepackaged software, Revenue, Financial Analysis Software, Financial Report

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$648.2 million loss reported by Unisys for the 3d quarter

Article Abstract:

Unisys reported a $648.2 million loss for its 3rd qtr 1989, reflecting the company's reorganization and losses on military contracts. Revenue for the company reached about 3.5 percent, from $2.27 billion to $2.35 billion. Computer demand declined, but growth in the military business helped sales. A special charge of $230 million reflected a reduction of 8,000 workers from the company's work force, along with the consolidation of manufacturing operations. In addition, Unisys reported charges of $150 million in its military division for losses related to fixed-price contracts with the Pentagon.

Reorganization, Military, Government Contracts, Losses

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