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September 21, 1998

UNISYS EARNINGS TO GROW AT TWO TIMES REVENUE

By CBR Staff Writer

In an interview with Investors Business Daily, Unisys Corp CEO Larry Weinbach said his goal is to keep Unisys’ earnings growth percentage at double the revenue growth percentage. Given a more difficult comparison with 1997 than the previous year, Weinbach says he’ll achieve it through cost cutting, with a new emphasis on services that are expected to grow by at least 15% a year over the next five years. Weinbach told the paper he could have got Unisys out of the hardware business altogether, but chose not too as some of the things its 3,000 hardware engineers come up with are very beneficial in the services business. He says the server business is growing 6% to 7% and that over time the company’s revenue will be split 75% from services and 25% hardware. Moreover: we may become our own venture capital firm, introducing natural language software. The biggest decline is maintenance of its proprietary mainframe systems that will be down 10% this year, and single digits thereafter.

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