Unisys narrows loss in 2Q |
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Tue, 24 Jul 2007 13:58
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BLUE BELL, Pa. (AP) - Unisys Corp., an information technology consultant, said Tuesday that its second-quarter loss narrowed as it worked on cutting costs.For the quarter ended June 30, Unisys' loss totaled $65.5 million, or 19 cents per share, compared with a loss of $194.6 million, or 57 cents per share, in the second quarter of last year.Unisys said the loss included a $24 million pretax restructuring charge for facility consolidations and 550 job cuts, as well as a $40.7 million tax expense. The year-ago loss included a $141 million pretax restructuring charge and $8.9 million tax benefit. Unisys announced reductions of 5,600 employees in 2006 and additional 950 this year.The company's revenue declined to $1.38 billion in its second quarter from $1.41 billion a year earlier. Unisys' services revenue declined year-over-year to $1.21 billion from $1.22 billion, while its technology revenue decreased to $167.1 million from $182.8 million.Analysts polled by Thomson Financial expected Unisys to report a loss of 5 cents per share on revenue of $1.39 billion. Analyst estimates typically exclude restructuring charges.Unisys said lower services and technology costs, coupled with decreased selling, general and administrative and research and development costs, led it to a small operating profit of $2.5 million in the second quarter, compared with a loss of $183.7 million in the prior year's second quarter.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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