Word: computerize
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Dates: during 1970-1979
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Last week, for example, Control Data Corp. of Minneapolis announced that it had suffered "substantial" losses in computer operations in the first quarter, and would lay off an unspecified number of workers throughout the nation. The company specializes in making very large computers, sold chiefly to the Pentagon and universities...
...also in trouble. Los Angeles-based Computer Sciences Corp. discontinued Computicket, a system that sold theater and sports tickets at terminals linked to a central computer. Computicket had been losing clients to a rival service, Ticketron. At the same time, Manhattan's Computer Applications, Inc. scrapped Speedata, a computerized system for reporting grocery sales and prices. The company simply could net raise the $2,000,000 more needed to make the system profitable...
Overdone Jitters. Computer stocks have been sinking ever since IBM announced in January that its fourth-quarter earnings were off slightly from the year before-a rare event. Last week IBM reported a turnaround in the first quarter; profits rose to $2.02 a share, from $1.82 a year earlier. Its...
Investors' jitters may be overdone. Like IBM, computer makers who are less dependent than Control Data on Government orders are still doing well. RCA's first-quarter computer sales were up 20% from a year earlier. Those sales, to be sure, reflect orders placed a year ago, and...
Even the Government, the largest user, is only slowing the rate of increase in its computer orders. Federal departments will buy or lease 4,750 computers in the current fiscal year, up 2% from fiscal 1969, which had shown a 10% rise over the previous year. What last week'...