Unisys Earnings, U.S. Revenue Gain In 3Q

The Blue Bell-based company reported earnings of $59 million, or 18 cents per share, for the quarter, up from $20.9 million, or 7 cents per share, in the same period last year. Overall third-quarter 2002 revenue dropped 3 percent year over year, to $1.3 billion from $1.4 billion. However, Unisys' U.S. sales rose 3 percent year over year to $619 million from $599 million.

Unisys Chairman and CEO Lawrence Weinbach said in a statement that he was pleased with the results, given the tough economy, and that the rest of the year looks good for the company.

"Despite the continued uncertainty in the global economy, we remain on track to achieve our goal of about 50 percent growth in full-year 2002 earnings per share over the 48 cents we earned in 2001, excluding special items," Weinbach said. "Specifically, we look for full-year 2002 earnings per share in the 67 cents to 70 cents range on revenue of $5.5 billion to $5.6 billion. This would allow us to close out the year with strength and enter 2003 with momentum."

Unisys' U.S. revenue gains reflect growth in the Intel-based server market. U.S. Intel-based server shipments in third-quarter 2002 are projected to reach about 413,000 units, up 17 percent from the 353,000 units shipped a year ago, according to a preliminary market report released last week by research firm IDC. The value of those servers is expected to hit $2.1 billion, up more than 10 percent from $1.9 billion in the prior-year quarter.