P.M. BRIEFING : Unisys Expects 1st-Quarter Loss
From Times wire services
BLUE BELL, Pa. —
Unisys Corp. said today that it expects to report a loss for the first quarter, joining two of its largest computer industry rivals in downgrading earnings estimates.
Unisys, the nation’s third-largest computer company, estimates that it will report a net loss for the first quarter in the range of $60 million to $80 million. It reported net income of $149.3 million for the first quarter of 1988.
Both International Business Machines Corp. and Digital Equipment Corp. have said within the last two weeks that they expect first-quarter results to fall below analysts’ estimates, casting doubt on the strength of the computer industry and prompting heavy slides in their share prices.
