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Unisys 3Q beats expectations; shares jump

Mon, 10/24/2011 - 6:05pm
The Associated Press

Information technology service provider Unisys Corp. said Monday that its third-quarter net income more than doubled as revenue grew thanks to strong demand for its mainframe computers.

The results were well ahead of analysts' forecasts and Unisys' shares jumped more than 22 percent in extended trading.

Net income in the three months to Sept. 30 grew to $78.6 million, or $1.63 per share, from $28.3 million, or 65 cents per share, a year ago.

That was better than the 70 cents per share in net income expected by analysts polled by FactSet.

Revenue grew 6 percent to $1.02 billion from $960.6 million, also beating the $937.7 million expected by analysts.

Shares surged $4.49 to $24.51 in after-hours trading Monday, after closing up 91 cents, or 4.8 percent, at $20.02.

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