James Unruh is not a happy man. Unisys Corp’s chairman blasted his company for disappointing earnings in the second quarter, when it did $39.8m or six cents a share, down 20%. We are disappointed with our financial results for the quarter, Unruh said: our US and European operations did not meet plan. Lower than expected revenue levels, lower services gross margins and higher sales and marketing expenses hurt the bottom line, he said. I am not satisfied overall with our cost controls and the pace at which we are executing our business strategy. He said change was imperative because business was starting to slow on both sides of the pond: orders were down in both regions, due to reduction of US government orders and a fall in Central Europe after a strong performance last year. While our strategic direction is right, I am not satisfied with this year’s progress. We clearly must improve our efforts to deliver the kind of results we are capable of delivering, Unruh said. Information services grew worldwide by 23% to account for 34% of the total. The company’s target is to get it to 40%.
