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Tech Industry

Unisys profits grow eightfold

The computer maker's profits surge on strong sales of its ClearPath enterprise servers.

Unisys (UIS) today reported that profits surged eightfold, in part because of a strong performance by its computer systems group.

The company reported net profits of $41.9 million, or 8 cents a share, in the second quarter ending June 30. A year earlier it posted a net loss of $5.3 million, or 14 cents, after preferred dividends payments.

That beat Wall Street's expectations for net profits of 5 cents per share, as reported by First Call.

The stock rose more than 10 percent in morning trading to 9-1/16, up from Friday's close of 8-3/16.

The old-line computer hardware, software, services, and systems integration company continues to improve its financial performance, focusing on the enterprise market.

Revenue for the second quarter rose 5 percent to $1.59 billion from $1.51 billion in the year-ago quarter despite the negative impact of currency translations in international markets. U.S. revenues for the quarter saw double-digit growth over the year-ago period.

"In particular, our computer systems group turned in another very good profit and revenue performance, and our information and services group continues to make progress toward profitability," said James Unruh, Unisys chairman and chief executive, in a statement.

The computer systems group's revenues grew 10 percent over a year ago, driven by demand for ClearPath enterprise servers. Unisys has shipped more than $1 billion of these servers since their introduction in early 1996.