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October 27, 2010

Unisys Q3 revenue down 13%

Services revenue declined by 10% on year ago quarter

By CBR Staff Writer

Unisys, a provider of IT services, software, and technology, has reported revenue of $961m for the third quarter of 2010, a drop of 13% compared to $1.1bn for the same period last year.

For the quarter ended 30 September 2010, operating income decreased by 32% to $76.1m, compared to $112m for the same period last year.

The company posted a net income of $28.3m, a decrease of 54% compared to $61.1m for the same period last year. EPS was $0.65, compared to EPS of $1.48.

Services revenue declined by 10% to $855.2m, compared to $953m and technology revenue decreased to $105.4m compared to $154m for the same quarter last year.

Unisys chairman and CEO Ed Coleman said the company achieved a services operating profit margin of 8% an important milestone that put them in their targeted 8 to 10% margin range.

"After three straight quarters of strong growth, sales of our ClearPath servers declined, impacting our net income comparisons against a strong third quarter a year ago and to drive profitable growth, we continue to enhance our portfolio with innovative offerings, including new enterprise virtualisation capabilities announced last week for our ClearPath server family," Coleman said.

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