Unisys' net income jumps 187% to US$83.7mn

Tuesday, October 25, 2011

US IT company Unisys (NYSE: UIS) reported global Q3 net income of US$83.7mn, up 187% compared to US$29.2mn in 3Q10, according to financial results released by the company.

Unisys saw its revenue for the quarter increase 6.1% year-on-year to US$1.02bn.

According to Unisys, services revenues for the quarter also went up from US$855mn a year ago to US$876mn, as well as technology revenues - from US$105mn in 3Q10 to US$144mn.

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Foreign currency fluctuations had a positive impact on revenue of almost 6 percentage points during the quarter, according to the company.

Excluding the US federal business, overall revenue grew 14% when compared to the year-ago period. The company saw revenue growth in all regions except for Latin America outside of Brazil.

"Strong ClearPath [software and servers] sales, continued growth in our non-US federal IT outsourcing business, and higher sales of industry solutions within our system integration business more than offset a decline in our US federal business, where market conditions remain challenging," said Unisys chairman and CEO Ed Coleman.

Unisys' capital expenditures in the quarter were US$29mn compared to US$46mn in the year-ago period, according to the release.

Use this link to view the full results.