Unisys is continuing its revival under chairman Larry Weinbach?s stewardship, returning to profit for fiscal year 1998 and beating analysts expectations.
Net income for the year was $387 million, compared to $199 million for 1997, when Unisys also wrote off $1 billion in debt to record a loss of $853.6 million. Revenue for the year grew nine per cent, from $6.64 billion in 1997, to $7.21 billion. Earnings per share more than doubled, from 46 cents a share to $1.06 a share.
The strongest growth area was in information services, which recorded an operating profit of $104 million in 1998, compared to an operating loss of $60 million in 1997.
Unisys said strong shipments of its Clearpath enterprise servers helped to offset the outsourcing of its PC business last year, although it acknowledged that computer systems orders had declined over the year, as a result of the outsourcing.
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