Unisys posts 4Q profit on lower costs, reversing prior year’s loss

Unisys posts 4Q profit on lower costs

BLUE BELL, Pa. — Technology services provider Unisys Corp. on Thursday reported a profit for the fourth quarter, reversing the prior year’s loss as lower costs offset a drop in revenue. The 2008 quarter also had a hefty charge related to cost cuts.

Unisys earned $114.5 million, or $2.64 per share, in the fourth quarter compared with a loss of $58 million, or $1.59 per share, in the same period a year earlier. The 2008 quarter included a $99 million charge related to the company’s cost-reduction efforts.

Revenue fell 5 percent to $1.21 billion from $1.28 billion. Revenue in the just-concluded quarter would have fallen further were it not for a 5 percent boost from foreign currency translation.

For the year, Unisys earned $189.3 million, or $4.75 per share, compared with a loss of $130.1 million, or $3.62, in the prior year’s period.

Revenue fell 12 percent to $4.6 billion from $5.23 billion. Foreign currency dragged down revenue in 2009 by 4 percent.

Shares of Unisys, based in Blue Bell, rose $2.72, or 8.7 percent, to close Thursday at $34.00.