NEW YORK – Computer services company Unisys Corp. on Wednesday posted a quarterly profit, compared with a year-earlier loss, as it moved forward with a major restructuring.
Unisys said fourth-quarter net profit rose to $21.3 million, or 6 cents per share, compared with a net loss of $31.1 million, or 9 cents per share, a year before; the results included pretax pension expenses.
Revenue for the quarter ended December 31 fell 1 percent to $1.55 billion from $1.57 billion in the year-ago quarter. Analysts on average had expected $1.56 billion in revenue, according to Reuters Estimates.
Unisys said it made progress in its restructuring program, which is aimed at improving its profitability by 2008.
It says it cut around 4,900 jobs in 2006, as part of its plan to cut 5,600 jobs. It expects to complete around 450 job cuts in the first quarter of 2007, with the remaining 250 cuts expected in the second quarter.
It forecast the cost-cutting in 2006 would yield net annualized savings of approximately $280 million in 2007. The company said it expects the overall restructuring program to yield net annualized savings of more than $340 million by the second half of 2007.