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Unisys Warns of Loss

The company blames lower-than-expected results in services and technology.
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fell Monday after the IT contractor warned it will lose money in the third quarter.

Excluding a pension expense but including a debt-related charge, Unisys expects to lose 7 cents to 9 cents a share in the quarter, below its previous prediction of a profit of up to 6 cents a share. Analysts surveyed by Thomson First Call were predicting a loss of 4 cents a share in the quarter.

Unisys put third-quarter revenue at $1.37 billion to $1.39 billion, short of the $1.5 billion consensus.

"The company saw lower-than-expected results in both its services and technology businesses," Unisys said, adding that it is "analyzing the reasons for the shortfall." Unisys will discuss the reasons and its plans to remedy them on its earnings call.

The shares fell 40 cents, or 5.9%, to $6.43 Monday.