Shares of Unisys (UIS) - Get Report slipped Tuesday after the company said it would report a loss for the fourth quarter, due largely to a write-off of assets related to an outsourcing operation.

The information technology services company said it now expects to lose 7 cents to 10 cents a share in the quarter, down from a previous prediction that it would earn 27 cents to 31 cents a share.

"We are disappointed by our fourth-quarter results, which came in below our expectations," said Unisys President and CEO Joseph W. McGrath.

Making up most of the swing to a loss is a pretax, noncash impairment charge of about $120 million, or 25 cents a share, to write off contract-related capitalized assets associated with a "challenging outsourcing operation."

Unisys expects fourth-quarter revenue of $1.52 billion to $1.53 billion, a decrease of approximately 7% from the prior-year quarter. Services revenue is expected to be down slightly from year-ago levels.

Analysts at Thomson First Call were expecting the company to earn 28 cents a share on revenue of $1.71 billion.

Shares of Unisys were recently down 37 cents, or 3.8%, to $8.94.