Although some observers are surprised that the company is still around and independent at all after the traumas of 1985 and 1986, Control Data Corp’s convalescence is going more slowly than the company had hoped, and according to chief financial officer John Buckner is six months to a year behind where it would have liked to have been by now. The annual report, which went out to shareholders this week, forecasts more nagative cash flow, and difficult times for its core mainframe computer business. Asked by the Wall Street Journal whether CDC was headed back into the red this year, Buckner said that he didn’t anticipate any negative quarter. He acknowledged that with a bombed-out share price and substantial net asset value, CDC was wide open to a hostile bid but management has wisely been paying attention to operations and isn’t unduly worried about raiders and things like that.
Content from our partners
