IBM announces pair of substantial outsourcing agreements, reporting a $1.21 billion contract with Michelin and a "pay per use" deal with Zurich Financial Services.
Local phone giant BellSouth reported a fourth-quarter net income of $792 million, or 42 cents a share, on revenue of $7.64 billion. That compares with income of $1.12 billion, or 59 cents a share, and revenue of $7.31 billion for the same quarter a year ago. Excluding charges, BellSouth posted earnings of 63 cents a share in the quarter vs. analyst expectations of 60 cents a share as surveyed by First Call. BellSouth also posted $1.21 billion in data revenue for the quarter, an increase of about 25 percent from a year ago. The company reduced its work force by about 16 percent over the year to 87,875 and expects earnings per share to grow between 7 percent and 9 percent and operating revenue to increase between 5 percent and 7 percent in 2002.
Revenue from small to medium-sized liquid-crystal displays (LCDs) came in at $1.21 billion worldwide in the second quarter, a drop of 15 percent from the first quarter, according to a new report from market researcher DisplaySearch. The 100.8 million units shipped in the second quarter represent a 4 percent decline from the first quarter, while the average sales price dropped 11 percent. Small to medium-sized LCDs are used in products such as cell phones, handheld computers, digital cameras and digital camcorders. Second-quarter shipments of LCDS for handheld computers and so-called smart phones fell 38 percent from the first quarter to 2.57 million units, while revenue dropped 28 percent to $93 million. Shipments of displays for mobile phones fell 3 percent to 90 million units, with revenue down 18 percent to $811 million. Despite the continuing economic slump, DisplaySearch forecasts that revenue from all small to medium-sized LCDs will grow in the third quarter as unit shipments increase by 9 percent from the second quarter and the average selling price jumps 7 percent.
Computer Associates International reported net income of $336 million, or 90 cents per share, for its fourth quarter ended March 31. That's an increase of 29 percent over last year. Revenue came in at $1.21 billion, up from $1.11 billion a year ago. For the fiscal year, the company reported revenue of $4 billion and net income of $2.54 per share, excluding charges associated with two acquisitions. Gains were attributed to strong sales of CA's Unicenter TNG systems management suite.
Exodus Technologies will release support for Java-based desktops in its NTerprise application server for Microsoft's Windows NT Server. The new support, which ships immediately, allows Java-based network computers to access copies of applications resting on NT servers and other desktops like Unix workstations, Apple Computer models, and Windows 3.11 desktops. Version 1.21 prices start at $1,545 for a five-user starter kit.