Control Data Corp is forecasting that it will report a dramatic improvement in net profit for the third quarter to September 30 compared with both the third quarter last year and the first two quarters of this year – but the writedowns for restructuring that led to a second quarter loss for the second quarter mean that the company will still report a loss for the year, although it will be in profit at the operating level in the second half: it says it is well on the way to consistent profitability in 1990; the $450m it got from Seagate Technology for Imprimis will go to reducing debt and building up cash reserves; the company also revealed that Europe accounts for 48% of its mainframe business, and said it faced increased competition here.
