STOCK WATCH

UNISYS

Unisys reported a 32.9 per cent increase in net income year-on-year to $119.7m and revenue of $1.89bn for the second quarter ended 30 June. To date, Unisys has increased its net income 51.1 per cent to $230.9m and turnover of $3.7bn.

INTERGRAPH

Intergraph blamed the ongoing price war in the chip market for its weak hardware sales as it issued a profit warning. The company announced that its second quarter revenue is expected to be $25m lower than internal targets, which would in turn affect its earnings.

SEAGATE

Seagate claimed stiff competition in the disk drive market led to its fourth-quarter revenue of $1.64bn and earnings of $69m, excluding special charges. Despite beating revenue and net income for the same period last year, the results still failed to meet analysts' expectations.

IOMEGA

Iomega showed a large loss in its second quarter but expects results to improve after its restructure. Revenue for the three months ended 27 June was $349m and loss amounted to $47.1m, compared with a turnover of $394m and loss of $39.9m for the second quarter last year.

VERITAS

Veritas posted a loss of $162,3m despite a strong second quarter, due to purchasing Seagate's network and storage management arm and TeleBackup Systems.