Unisys Earnings Drop 51%, Matching Estimates
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Unisys Corp. said second-quarter earnings fell 51% to $29.3 million, or 9 cents a share, matching analyst expectations, and said profit for the rest of the year will fall short of Wall Street forecasts because of weak global conditions.
The computer services company said sales rose 3% to $1.46 billion from $1.42 billion. That comparison does not include the company’s less profitable sales of computers, which Unisys has been de-emphasizing.
The Blue Bell, Penn.-based company now expects third-quarter earnings in the range of 5 cents to 10 cents a share, well below analysts’ average forecast of 18 cents.
The company’s shares fell to $12.61 in extended trading after closing off 58 cents at $13.15 on the New York Stock Exchange.
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