Unisys sees profits drop to US$99.2mn during Q4

Wednesday, February 2, 2011

Unisys (NYSE: UIS) reported global Q4 net profits of US$99.2mn, which represented a 13.4% decline when compared with net earnings of US$114mn in 4Q09, according to financial results released by the company.

Unisys saw its revenue for the quarter drop 10% year-on-year to US$1. The company said declines attributable to divested businesses and foreign currency fluctuations dragged on revenues, each responsible for a two percentage point negative impact in the quarter.

For the full year in 2010, Unisys reported an increase in net profit of US$236mn compared with US$189mn during the previous year. Yearly revenues were still down, showing an 8% decrease to US$4.02bn. Unisys related the revenue decline to the company's efforts to reshape its business model.

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According to Unisys, its technology revenues for the year remained flat at US$562mn, compared with declines in this sector during previous years. The company also saw its IT outsourcing revenues grow during each quarter throughout the year, posting 6% total annual growth.

Use this link to view the full results.