Unisys 3rd-Quarter Profit Drops 51%

Unisys Corp. reported a 51% drop in third-quarter profit on weakening demand for server computers and systems integration work and said it will cut 3,000 jobs.

Profit fell to $20.9 million, or 7 cents a share, on an 18% decline in revenue to $1.38 billion. The firm said cost controls helped results beat analysts’ average estimate by 2 cents. Revenue in the services business was little changed from a year ago; hardware sales declined 21%.

Unisys also lowered its outlook for fourth-quarter earnings to 10 cents to 15 cents a share. Analysts had forecast 21 cents after the company said in July that it projected a range of 25 cents to 30 cents a share.

Shares of Blue Bell, Pa.-based Unisys fell to $8.90 in after-hours trading after having closed up 5 cents at $9.40 on the New York Stock Exchange.