Migraine in the mainframe: Unisys reports more losses
Decline chalked up to licence renewal instability
Mainframe maker Unisys posted yet more disappointing results for, recording a net loss of $9.6m (£6m) for its third quarter results. Revenue was $739m (£477m), down 16 per cent on last year.
Anthony Miller, analyst at TechMarketView, noted the firm's hardware revenue halved and services revenues declined by 8 per cent.
"Restructuring and pension charges contributed towards an almost wipe-out of operating profit, leaving the bottom line around $10m under water," he said.
It follows a particularly disappointing second quarter, with the company quadrupling its losses in July to $58.2m (£37.6m), compared with the same period in 2014.
The company blamed technology revenue, "which can vary significantly" from quarter to quarter based on the timing of licence renewals, caused the overall revenue decline in constant currency.
Unisys chief exec Peter Altabef said: "Our transformative cost actions are strengthening the company's underlying operating profitability.
"These actions, combined with improved offerings and go-to-market capabilities, are enhancing our competitiveness in the market." ®