Computeruser.com
Latest News

Unisys Announces Fourth-Quarter and Full-Year 2010 Financial Results; Company Reports Strong Margins and Cash Flow; Further Balance Sheet Improvement

BLUE BELL, Pa. Feb. 1, 2011

Continued progress in reshaping the company’s business model for profitable growth:

  • $103 million $223 million
  • Increased operating profit margin to 12.9 percent in 4Q10 and 9.3 percent for the full year
  • Achieved 4Q10 services operating profit margin of 8.0 percent — second consecutive quarter within targeted range of 8 – 10 percent
  • $146 million $828 million $824 million
  • $562 million
  • Grew IT outsourcing revenue outside the US federal business by 4 percent in 4Q10 and 6 percent for the full year

$99.2 million $2.29 $114.5 million $2.64 $103.2 million $98.0 million $95.2 million $2.20 $113.7 million $2.62 $1.04 billion $1.16 billion

$236.1 million $5.45 $189.3 million $4.75 $222.9 million $218.2 million $158.9 million $3.67 $172.2 million $4.32 $4.02 billion $4.39 billion

Ed Coleman

"While total revenue declined as we reshape our business model, we made progress towards our previously announced longer-term revenue goals. Outside of the U.S. federal market, our IT outsourcing revenue grew each quarter in 2010 and 6 percent for the full year. We grew sales of ClearPath servers by 5 percent in 2010 while our overall technology revenue was flat.

"With a growing reputation for service excellence, new technological innovations like secure partitioning for the Intel Xeon platform, and the work we have done to focus, strengthen and differentiate our solutions, we believe Unisys is well positioned to help clients deal with the disruptive trends associated with cloud computing, cybersecurity, mobile computing, social computing, smart computing and IT appliance offerings," Coleman said.

Unisys reported a fourth-quarter gross profit margin of 29.8 percent, up from 29.4 percent a year ago. Operating expenses (selling, general and administrative expenses plus research and development) declined 14 percent from the year-ago quarter. Reflecting the improved gross margin and the reduction in operating expenses, the fourth-quarter operating profit margin increased to 12.9 percent from 11.6 percent a year ago.

Business Segment Results

Fourth-quarter 2010 services customer revenue declined 11 percent from the prior-year quarter, with approximately two percentage points of the decline attributable to divested businesses. Reflecting improved cost efficiencies in delivery, services gross profit margin improved to 21.9 percent compared with 19.4 percent a year ago. Services operating profit margin increased to 8.0 percent compared with 7.2 percent a year ago.

December 31, 2010 $5.8 billion $5.9 billion December 31, 2009 $5.8 billion September 30, 2010 North America

Fourth-quarter 2010 technology customer revenue declined 4 percent from the prior-year quarter. For the full year, technology revenue was flat compared to 2009, as growth in ClearPath server sales offset 2009 revenue from divested businesses. The company reported a fourth-quarter 2010 technology gross profit margin of 56.6 percent and an operating profit margin of 30.5 percent, down from a gross profit margin of 61.0 percent and operating profit margin of 31.5 percent in the year-ago quarter.

Cash Flow and Balance Sheet Highlights

$187 million $215 million $41 million $52 million $146 million $163 million

$337 million $100 million $100 million $397 million $41 million $203 million $201 million $134 million $196 million

December 31, 2010 $828 million $648 million December 31, 2009 December 31, 2010 $824 million $88 million December 31, 2009

Conference Call

5:30 p.m. Eastern Time www.unisys.com/investor

Constant Currency

The company refers to revenue growth rates at constant currency or adjusting for currency so that the business results can be viewed without the impact of fluctuations in foreign currency exchange rates to facilitate comparisons of the company’s business performance from one period to another. Constant currency for revenue is calculated by retranslating current and prior period results at a consistent rate. This approach is based on the pricing currency for each country which is typically the functional currency. Generally, when the dollar either strengthens or weakens against other currencies, the growth at constant currency rates or adjusting for currency will be higher or lower than growth reported at actual exchange rates.

About Unisys

www.unisys.com

Forward-Looking Statements

Any statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, any projections of earnings, revenues, or other financial items; any statements of the company’s plans, strategies or objectives for future operations; statements regarding future economic conditions or performance; and any statements of belief or expectation. All forward-looking statements rely on assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Risks and uncertainties that could affect the company’s future results include the adverse effects of global economic conditions; the company’s significant pension obligations and potential requirements to make significant cash contributions to its defined benefit pension plans; the success of the company’s program to reduce costs, focus its global resources and simplify its business structure; the potential adverse effects of aggressive competition in the information services and technology marketplace; the company’s ability to effectively anticipate and respond to volatility and rapid technological change in its industry; the company’s ability to retain significant clients; the company’s ability to take on, successfully implement and grow outsourcing operations; the company’s ability to drive profitable growth in consulting and systems integration; market demand for the company’s high-end enterprise servers and maintenance on those servers; the risk that the company’s contracts may not be as profitable as expected or provide the expected level of revenues and that contracts with U.S. governmental agencies may subject it to audits, criminal penalties, sanctions and other expenses and fines; the risk that the company may face damage to its reputation or legal liability if its clients are not satisfied with its services or products; the performance and capabilities of third parties with whom the company has commercial relationships; the risks of doing business internationally when more than half of the company’s revenue is derived from international operations; the company’s ability to access capital and credit markets to address its liquidity needs; the business and financial risk in implementing future dispositions or acquisitions; the potential for infringement claims to be asserted against the company or its clients; the possibility that pending litigation could affect the company’s results of operations or cash flow; and the company’s consideration of all available information following the end of the year and before the filing of the Form 10-K and the possible impact of this subsequent event information on its financial statements for the reporting period. Additional discussion of factors that could affect the company’s future results is contained in its periodic filings with the Securities and Exchange Commission. Unisys assumes no obligation to update any forward-looking statements.

RELEASE NO.: 0201/9017

Unisys is a registered trademark of Unisys Corporation.  All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.

UNISYS CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(Millions, except per share data)

Three Months

Year

Ended December 31

Ended December 31

2010

2009 *

2010

2009 *

Revenue

 Services

$859.7

$966.2

$3,457.4

$3,824.9

 Technology

184.9

192.4

562.2

560.8

1,044.6

1,158.6

4,019.6

4,385.7

Costs and expenses

 Cost of revenue:

   Services

661.3

758.9

2,731.8

3,026.1

   Technology

72.2

59.6

216.1

246.6

733.5

818.5

2,947.9

3,272.7

Selling, general and administrative

158.4

180.9

617.1

681.1

Research and development

18.1

25.1

78.9

101.9

910.0

1,024.5

3,643.9

4,055.7

Operating profit

134.6

134.1

375.7

330.0

Interest expense

25.0

26.8

101.8

95.2

Other income (expense), net

(6.4)

(9.3)

(51.0)

(16.6)

Income from continuing operations

before income taxes

103.2

98.0

222.9

218.2

Provision (benefit) for income taxes

6.1

(12.6)

58.8

42.3

Consolidated net income from

continuing operations

97.1

110.6

164.1

175.9

Net (income) loss attributable to

noncontrolling interests

(1.9)

3.1

(5.2)

(3.7)

Net income from continuing operations

attributable to Unisys Corporation

95.2

113.7

158.9

172.2

Income from discontinued

operations, net of taxes

4.0

0.8

77.2

17.1

Net income attributable to

Unisys Corporation

$99.2

$114.5

$236.1

$189.3

Earnings per share attributable Unisys Corporation

Basic

Continuing operations

$   2.24

$  2.69

$  3.74

$  4.38

Discontinued operations

.09

.02

1.81

.44

   Total

$   2.33

$  2.71

$  5.55

$  4.82

Diluted

Continuing operations

$   2.20

$  2.62

$  3.67

$  4.32

Discontinued operations

.09

.02

1.78

.43

   Total

$   2.29

$  2.64

$  5.45

$  4.75

Shares used in the per share computations (thousands):

 Basic

42,642

42,285

42,562

39,241

 Diluted

43,326

43,307

43,333

39,834

* Reclassified for discontinued operations

UNISYS CORPORATION

SEGMENT RESULTS

(Unaudited)

(Millions)

 Total

Eliminations

Services

Technology

Leave a comment

seks shop - izolasyon
basic theory test book basic theory test