Sungard Data Systems' $44 Million Loss Reflects Charge For Two Acquisitions
VENDOR BRIEFING
WAYNE, Penn.--Sungard Data Systems lost $44.3 million on sales of $319.6 million during the first quarter of 1999. The results reflected a one-time charge for $81 million related to the acquisitions of Automated Securities Clearance and Sterling Wentworth.
Without the charge for the acquisitions, Sungard would have earned $37.1 million. A year ago, the company earned $23 million on sales of $276.3 million. Revenue in the company's investment support systems group rose to $226.7 million compared
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