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March 29, 1989

UNISYS WARNS OF FIRST QUARTER LOSS

By CBR Staff Writer

Unisys Corp warns that it expects to report a loss of $60m to $80m for its first quarter to March 31, but says hopefully that it believes the loss to be an aberration and is expecting operating results to return to more normal profit levels in the second quarter. The company blames shipments of 1100 mainframes being abnormally low as users customers wait for the new 2200s, which are just beginning to ship; the US government’s Ill Wind defence procurement investigation and temporary suspension of three major defence businesses; the new Unisys organisation announced in January, which included restructuring of its US computer business, formation of new product groups and integration of Convergent Technologies. It also sees continued industry-wide weakness in the US computer business, resulting in lower than planned first quarter ships.

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