Unisys has reported 23% year-over-year growth in its second-quarter 2003 earnings per share, within its targeted range for the quarter. Unisys also reported second-quarter 2003 revenue growth and strong cash flow from operations, as the company continues to benefit from its value-added business strategy.
Unisys reported second-quarter 2003 net income of $52.5 million, or 16c per share, compared to net income of $42.2 million, or 13c per share, in the second quarter of 2002. Revenue for the second quarter of 2003 increased 5% to $1.43 billion from revenue of $1.36 billion in the year-ago quarter. Currency had a 4% positive impact on the company`s revenue in the second quarter, as the US dollar weakened against most major currencies worldwide.
"We continue to execute in a tough IT spending environment," says Unisys Africa MD Barry Holt. "By staying focused on our value-added strategy and being highly selective in the opportunities we pursue, we continued our consistent financial performance and met our financial targets for the quarter.
"We were particularly pleased with the performance of our services business, where revenue grew 12% in the quarter and where we have made good progress in our three key priority areas: outsourcing, consulting and systems integration, and security services.
"We also continue to make progress against the key growth objective in our technology business - namely, to increase sales and market share in our high-end, Intel-based ES7000 servers," Holt adds. "While the technology market remains weak overall, our ES7000 server revenue grew more than 50% in the quarter from a year ago levels. This was our fourth consecutive quarter of year-over-year double-digit sales growth for the ES7000 line."
In the second quarter, Unisys announced a range of new services and products that expand its offerings in its strategic growth areas. In the services business, Unisys announced its Business Blueprinting initiative, designed to help clients create digital roadmaps for their organisations in order to improve their flexibility, reduce system development time, and eliminate unnecessary costs.
Unisys also continued to expand its enterprise security solutions, including the introduction of a new suite of identity management solutions for Microsoft Windows-based environments. In its technology business, the company launched its ES7000/400 line of servers, a major expansion of the ES7000 family based on Intel`s new 64-bit Itanium 2 processors.
Unisys Africa is delivering in line with the international performance, Holt reports. "We have secured a number of key outsourcing deals; large cheque processing contracts; and continued our success with the ES7000 line of servers. In every regard, Unisys continues to be a leader in its target markets."
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