Information technology company Unisys Corp. (UIS) Wednesday reported a profit for the third quarter of fiscal 2009, compared with a loss last year, driven by gross profit margin improvement and lower provision for income taxes.
Third-quarter net profit attributable to Unisys was $61.1 million compared to a net loss attributable to Unisys of $34.7 million last year. On a per share basis the company posted an earnings of $1.48 on approximately 41 million shares compared with a loss of $0.96 on approximately 36 million shares. The company said that the earnings per share amounts reflected its previously announced reverse stock split.
On average, 2 analysts polled by Thomson Reuters expected the company to report earnings of $0.45 per share in the quarter. Analysts' estimates typically exclude special items.
For the second quarter, the company's net income attributable to shareholders was $38.1 million or $0.10 per share.
Unisys' quarterly revenue declined to $1.16 billion from $1.31 billion in the prior-year quarter. Analysts projected revenues of $1.11 billion. For the preceding quarter, the company's revenue was $1.13 billion.
According to the company, foreign exchange rates had an approximately 5 percentage-point negative impact on revenue in the quarter. On a constant currency basis, revenue declined 7%.
In the U.S., the company's revenue declined 3% to $542 million, as growth in the company's U.S. federal government business was offset by declines in its commercial business. Revenue in international markets was down 18% to $618 million. On a constant currency basis, international revenue declined 11% in the quarter.
Based on segments, the company's Services revenue was $1.01 billion, down from $1.15 billion a year ago. Customer revenue was down 13% while it dropped 8% on a constant currency basis compared with the year-ago quarter. The company said that services orders showed substantial gains from last year, driven by outsourcing contract renewals. Services order backlog was $6.4 billion at September 30.
Technology revenues decreased to $153.6 million from $160.3 million in the previous year.
The company also said that third-quarter gross profit margin improved to 26.4% from 22.2% a year ago as it benefited from improved cost efficiencies in services delivery and a stronger mix of high-end enterprise servers. Reflecting these factors as well as significant reductions in selling, general, and administrative expenses, the company's operating profit margin increased to 10.2% from 2.9% a year ago.
In addition, the company's provision for income taxes declined to $26.2 million from $45.1 million in the prior-year quarter.
For the nine-month period, Unisys earned $78.4 million or $1.93 per share, compared with a loss of $72.1 million or $2.01 per share in the previous year. Revenue reached $3.39 billion, down from $3.95 billion in the same period of fiscal 2008.
Among others in the sector, Accenture Plc (ACN) reported lower profit for the fourth quarter, hurt by the negative impact of unfavorable foreign-exchange rates. The Hamilton, Bermuda-based company's net income was $254.7 million, compared with $434.8 million in the prior-year quarter. Net income, which includes minority interests in Accenture SCA and Accenture Canada Holdings Inc., declined to $301.4 million or $0.39 per share from $543.1 million or $0.67 per share a year ago. The company's revenues for the quarter decreased to $5.51 billion from $6.56 billion in the previous year.
International Business Machines Corp. (IBM) said on October 15 that its third-quarter profit rose 14% from last year, as a lower tax rate, improved gross margins and tight cost control more than offset a 7% revenue drop. The Armonk, New York-based technology giant reported net income of $3.21 billion or $2.40 per share, compared with $2.82 billion or $2.04 per share for the year-ago quarter. Total revenue was $23.57 billion, lower than $25.30 billion last year.
Another peer, Hewlett-Packard Co. (HPQ) is slated to report its fourth-quarter results on November 23. Wall Street analysts forecast a profit of $1.12 per share on revenues of $29.77 billion for the quarter.
UIS closed Tuesday's trading at $24.07, up $3.10, on a volume of 1.25 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.