Unisys shares jump 20 pct. on earnings results
Shares of Unisys Corp. were among the biggest movers Wednesday after the Blue Bell information technology company reported a rare quarterly revenue increase as well as higher profits. Unisys shares closed up 20 percent, or $3.30, to $19.70, making it the second-biggest gainer on the New York Stock Exchange.
Shares of Unisys Corp. were among the biggest movers Wednesday after the Blue Bell information technology company reported a rare quarterly revenue increase as well as higher profit.
Unisys shares closed up 20 percent, or $3.30, to $19.70, making it the second-biggest gainer on the New York Stock Exchange.
After stock market trading had ended Tuesday, the company announced first-quarter revenues of $928.4 million, up 2 percent from $911.2 million for the same quarter in 2011.
Unisys chairman and CEO Ed Coleman told analysts on a conference call that the "most challenging part of our business" is the unit that provides systems and services to federal agencies, such as the General Services Administration and Department of Homeland Security. He said federal revenue for Unisys decreased by 20 percent in the first quarter.
Net income of $13.4 million, or 30 cents per share, represented a turnaround from last year's first-quarter net loss of $40.8 million, or 95 cents per share.
— Mike Armstrong