Unisys falls into the red during Q2

- Wednesday, July 27, 2011

Unisys falls into the red during Q2

US IT company Unisys (NYSE: UIS) reported a global Q2 net loss of US$11.6mn, compared to earnings of US$120mn in 2Q10, according to financial results released by the company.

Unisys saw its revenue for the quarter drop 10% year-on-year to US$937mn.

For the first half of 2011, Unisys also reported a net loss of US$52.4mn, compared to net income of US$108mn during the year-ago period.

Start your 15 day free trial now!

cta-arrow

Already a subscriber? Please, login

Revenues for the six months ended June 30 decreased 8.2% year-over-year, from US$2.01bn to US$1.85bn.

According to Unisys, services revenues for the quarter also declined from US$892mn a year ago to US$842mn, as well as technology revenues - from US$145mn in 2Q10 to US$95mn.

The company attributed the declines mainly to a previously announced US$45.7mn charge related to debt reduction, and to a pretax charge of US$13.5mn related to the loss of an old non-income tax case concerning the company's former Brazilian manufacturing operations.

"Our second quarter results were impacted by continued softness in the US federal marketplace and lower sales of ClearPath systems," said Unisys chairman and CEO Ed Coleman.

Use this link to view the full results.