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April 18, 1997updated 05 Sep 2016 12:06pm


By CBR Staff Writer

Control Data Systems Inc, Arden Hills, Minnesota systems integration specialists, reported first-quarter net income of $16.6m on revenue down 22% at $61m, compared to net income of $2.9m for the same quarter of 1996. Earnings per share for the quarter were $1.19 versus $0.20 a year ago. Excluding a $15m gain from the sale of its 50% stake in Metaphase Technology Inc (CI 3,066), net income – all of which was non-operating income – was down 44% at $1.6m, or $0.11 per share, in line with the First Call consensus. This figure includes a $500,000 charge related to software acquisitions. The loss from operations for the quarter was $472,000. The company says that although its software and services revenue grew, revenue from its soon-to-be-abandoned hardware efforts withered 43%. It anticipates operating income once the focus on systems integration is fully realized, possibly next quarter.

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