Control Data Corp is taking yet another monster hit against its profits for the last quarter of 1989, but promises that this one – a daunting further write-off of $210m, implying a loss of some $650m for the year, really will be the last. The main element this time is the writing off of its VTC Inc semiconductor subsidiary, which has been on the block for over a year, and has never been profitable. It makes primarily chips for military applications, and CDC now hopes to sell it in the second or third quarter of this year. Some $32m to $36m will be to cover foreign currency adjustments on businesses sold abroad, and final write-offs on US units already sold or closed. Control Data will be left with its mainframe business, which is looking to increase substantially the bought-in content of its products, Arbitron broadcast ratings unit, and state lottery operations.
