Unisys boasts net income boost despite fall in revenue


Unisys boasts net income boost despite fall in revenue

IT hardware and services vendor Unisys has reported lower revenues for its third quarter compared with a year ago, but said its net income increased almost 300%.

Revenues for the quarter, which ended 30 September, totalled $1.33bn, about 3% lower than the $1.38bn the company reported for the same period a year ago. Revenues for the first nine months of this year totalled $4.05bn, compared with $4.46bn a year ago.

However, Unisys' third-quarter net income soared to $59m from $20.9m a year ago.

Chairman and chief executive officer Lawrence Weinbach said the company's figures were pleasing in light of continuing sluggishness in the economy.

"Our third-quarter results, delivered in a very difficult economic environment, demonstrate the strength of our business strategy," he said. "By staying highly focused and disciplined in the marketplace and in controlling costs, we nearly tripled our net income over the year-ago period - our second consecutive quarter of significant year-over-year earnings growth," he said.

Unisys reported that US revenue increased 3% in the third quarter to $619m, compared with $599m a year ago. Revenue in international markets decreased 8% to $713m from $777m a year ago, as revenue declines in Latin America and Europe more than offset gains in the Asia/Pacific market.

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