Feeds

Unisys to shed 1,400 workers

Got a tax refund too

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Unisys is waving goodbye to 1,400 workers and getting rid of unused facilities, to save $70m a year by the end of 2005.

The computer services firm will take a one-time $63m charge to earnings for the actions, the equivalent of 19 cents per share in Q3, and estimates the moves will need $85m in cash during 2005.

Separately, the US Congressional Joint Committee on Taxation has approved an income tax refund of $40m, which, after local taxes and an adjustment of Unisys' tax liability reserves, will provide a $30m cash boost. It can also now adjust its tax liability reserves following the settlement, resulting in an overall benefit to the company of $70m.

For Q3 The net effect of the tax benefit and cost reduction charge will be $7m, or two cents per share, for the quarter, the company said.

However, its guidance for the quarter remained unchanged, with earnings expected to fall between eight and 12 cents per share and $40m, compared to $56.2m, or 17 cents per share in Q3 last year. ®

Related stories

Peoplesoft, Siebel predict rosy Q3
AMD issues revenue warning
Intel Q3 sales to barely meet guidance - report

Beginner's guide to SSL certificates

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.