Sperry Corp. said that its fiscal third-quarter profit fell 17% from a year earlier despite a 23% revenue gain, but another major computer maker, Burroughs Corp., said that fourth-quarter profit rose 16%.
However, Sperry is "looking forward to a very strong fourth-quarter performance by our electronics business, particularly commercial computers," Gerald G. Probst, chairman and chief executive, said in a statement.
Sperry's latest results included an after-tax charge of $12.7 million. The charge reflects an award to the Israeli government following arbitration of a contract dispute involving Sperry military communications products.
Profit was also constrained by the strong dollar and Sperry's "depressed farm-equipment business," the company said.
In addition, the year-earlier results included a $5.6-million after-tax gain from discontinued operations.
During the quarter, the information systems group's revenue and operating profit rose 30% and 43%, respectively, the company said.
For the first nine months of its fiscal year, New York-based Sperry said net income jumped 40% on a 13% increase in revenue.