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CONTROL DATA REPORTS 1991 RESULTS

 CONTROL DATA REPORTS 1991 RESULTS
 Economy's Impact on Several Businesses, Restructuring Charges
 Are Factors in Moderate Loss for Year
 MINNEAPOLIS, Feb. 4, /PRNewswire/ -- Control Data Corporation


(NYSE: CDA) today reported a net loss of $9.8 million, or $.24 per share, on revenues of $1.5 billion for the year ended Dec. 31, 1991. Apart from pre-tax net restructuring charges of $12.1 million, the company was modestly profitable for the year. In 1990, Control Data reported net earnings of $2.7 million, or $.05 per share, on revenues of $1.7 billion.
 The company reported a fourth quarter net loss of $15.2 million, or $.36 per share, on revenues of $402.9 million. Fourth quarter 1991 net restructuring charges totaling $17.5 million were related to expense reductions made primarily by Computer Products as it continues to make a major strategic transition. In the same period in 1990, Control Data had a net loss of $23.8 million, or $.56 per share, on revenues of $429.7 million.
 "The fourth quarter and year were disappointing because satisfactory results in most of the Information Services businesses and Government Systems were more than offset by the effect the deteriorating economy and industry issues had on the Automated Wagering and Computer Products businesses, and by restructuring charges," said Lawrence Perlman, president and chief executive officer.
 "Declining lottery ticket purchases throughout the United States resulted in a loss for Automated Wagering," Perlman said. "The pressures that made 1991 a very difficult year for most of the computer industry led to a loss for Computer Products. The industry has been making a complex transition from proprietary to open systems in the midst of a weak global economy. In this environment, it has not been possible for Computer Products to generate sufficient sales volume to make up for the lower margins and lower average order size that characterize open systems sales. In addition, a Russian customer was not able to complete financing for a large mainframe order for which Computer Products expected to receive revenue in the quarter.
 "I am pleased with the resilience shown by the majority of the Information Services businesses and Government Systems toward the end of the year, and these businesses should perform satisfactorily in the difficult economic environment we anticipate for 1992. In Computer Products, the first half of the year should be an operating challenge because, traditionally, the majority of its earnings are achieved in the second half of the year, a trend that should be exacerbated by the weak economy we are experiencing going into 1992. Despite the difficult economic and industry conditions it must deal with, Computer Products has made excellent progress in building its open systems business and is becoming well positioned to compete in the open systems market in the 1990s.
 "Control Data continues to reduce costs and expenses and to aggressively pursue several initiatives in connection with the reshaping plan the company announced in September 1991. We expect to announce some actions in the coming months."
 Control Data received a waiver of the covenant in its credit agreement that required the company to have breakeven results for 1991. Until a new agreement is in place, the company has agreed not to retire any of its 8-1/2 percent Convertible Subordinated Debentures. Control Data and its banks are discussing a new agreement to replace the waiver, which matures on March 31.
 Control Data's annual meeting of stockholders will be held on May 6, 1992, in Minneapolis.
 Control Data applies technology to meet customers' specialized computing and information management needs. The company consists of three primary businesses: Information Services, Computer Products and Government Systems.
 CONTROL DATA CORPORATION AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Dollars in millions, except per share data)
 For Periods Ended Dec. 31,
 Three Months 12 Months
 1991 1990 1991 1990
 Revenue
 Net sales and rentals $199.2 $213.7 $695.2 $804.4
 Services 203.7 216.0 829.7 886.6
 Total 402.9 429.7 1,524.9 1,691.0
 Cost of revenue
 Net sales and rentals 136.7 150.5 485.9 557.1
 Services 130.0 153.4 525.9 566.1
 Total 266.7 303.9 1,011.8 1,123.2
 Gross profit 136.2 125.8 513.1 567.8
 Operating Expenses
 Selling, general and
 administrative 96.6 104.2 380.4 402.4
 Technical expense 28.6 40.0 119.1 161.0
 Other expense (income) 4.9 (16.9) (.9) (25.6)
 Restructure loss (gain) 17.5 17.3 12.1 10.0
 Earnings (loss) before
 interest and taxes (11.4) (18.8) 2.4 20.0
 Interest expense (5.2) (10.0) (25.4) (43.8)
 Interest income 6.1 8.9 24.9 39.7
 Earnings (loss)
 before income taxes (10.5) (19.9) 1.9 15.9
 Income tax provision 4.7 3.9 10.5 13.2
 Earnings (loss) before
 extraordinary item (15.2) (23.8) (8.6) 2.7
 Extraordinary loss (gain) -- -- 1.2 --
 Net earnings (loss) $(15.2) $(23.8) $(9.8) $2.7
 Earnings (loss) per common share
 before extraordinary item $(.36) $(.56) $(.21) $.05
 Earnings (loss)
 per common share $(.36) $(.56) $(.24) $.05
 Weighted average common
 shares outstanding
 (in thousands) 42,527 42,532 42,526 42,517
 CONDENSED CONSOLIDATED BALANCE SHEET
 (Dollars in millions)
 December December
 1991 1990
 Cash and equivalents $210.9 $242.7
 Receivables 363.7 389.2
 Inventories 181.8 182.0
 All other assets 457.4 610.0
 Total assets $1,213.8 $1,423.9
 Debt $200.8 $358.5
 All other liabilities 566.8 608.9
 Stockholders' equity 446.2 456.5
 Total liabilities and
 stockholders' equity $1,213.8 $1,423.9
 -0- 2/4/92
 /CONTACT: Nancy Foltz of Control Data, 612-853-5229/
 (CDA) CO: Control Data Corporation ST: Minnesota IN: CPR SU: ERN


DS -- MN001 -- 6514 02/04/92 08:46 EST
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Date:Feb 4, 1992
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