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Unisys Corporation (UIS)

  • Thu, Oct. 22, 1:40 PM
    • Thanks in part to recent job cuts, Unisys' (NYSE:UIS) op. margin (excluding restructuring and pension expenses) nearly doubled Y/Y to 7.2%. That allowed EPS to beat estimates in spite of a revenue miss.
    • Also: Q3 services bookings totaled $778M, +34% Q/Q and +42% Y/Y thanks to strong renewals. The services backlog rose 2% Y/Y to $4.4B (10% exc. forex).
    • Services revenue fell 8% Y/Y to $656M, and technology (hardware/software) revenue 51% to $83.2M; the latter is blamed on software license renewal timing. A strong dollar had an 8% impact on total revenue growth (-16% vs. -8%). Job cuts and forex led SG&A spend to drop 16% Y/Y to $115.4M, and R&D spend to drop 18% to $16.6M.
    • Q3 results, PR
    | Thu, Oct. 22, 1:40 PM | 1 Comment
  • Thu, Oct. 22, 12:47 PM
    | Thu, Oct. 22, 12:47 PM | 1 Comment
  • Wed, Oct. 21, 4:42 PM
    • Unisys (NYSE:UIS): Q3 EPS of $0.67 beats by $0.15.
    • Revenue of $739M (-16.3% Y/Y) misses by $30.37M.
    • Press Release
    | Wed, Oct. 21, 4:42 PM | 1 Comment
  • Tue, Oct. 20, 5:35 PM
  • Tue, Sep. 15, 5:53 PM
    • Press Release: Unisys Corporation (NYSE: UIS) today announced a range of advanced security products and solutions, including a new software-based release of its award-winning Unisys Stealth" solution, which helps organizations protect their digital and physical assets in cloud, mobile and enterprise environments. 
      The new Unisys Stealth products are completely software-based and can be immediately incorporated into an organization's existing eco-system - including clients, servers, clouds, industrial control systems, Internet of Things, mobile devices, customers, and even supply chain partners.

      New Stealth products are part of a comprehensive portfolio of security solutions for location, perimeter and surveillance security; identity management and biometrics; secure image processing and analytics; as well as efficient managed services and global consulting to address all aspects of its clients' security requirements.
    • Editor's note: The products include a core Stealth offering, as well as versions meant specifically for securing mobile apps and cloud services. Unisys is looking to better tap into a strong corporate IT spending environment, and perhaps also diversify further away from servers/mainframes and lower-margin IT services.
    | Tue, Sep. 15, 5:53 PM | Comment!
  • Mon, Aug. 3, 6:41 PM
    • Continuing the massive executive overhaul that has followed CEO Peter Altabef's late-2014 arrival, Unisys (NYSE:UIS) states Ronald Frankenfield, the head of its Enterprise Solutions (enterprise hardware/software) ops, is retiring as of Aug. 31.
    • Eric Hutto, the GM of Unisys' North American ops, will succeed Frankenfield. He'll be "responsible for building and strengthening client relationships by promoting the full portfolio of Unisys services, technology products and software, and has [profit & loss] accountability for Unisys activities globally, outside the U.S. Federal group."
    • News of the latest change comes 10 days after Unisys tumbled in response to its Q2 report, and 12 days after a new global public sector head was named.
    | Mon, Aug. 3, 6:41 PM | 1 Comment
  • Fri, Jul. 24, 12:45 PM
    | Fri, Jul. 24, 12:45 PM | 2 Comments
  • Fri, Jul. 24, 12:09 PM
    • Unisys (NYSE:UIS) has plunged to new 52-week lows post-earnings.
    • While lower spending provided a lift to adjusted EPS, gross margin fell 420 bps Y/Y to 16.3%. 270 bps is attributed to restructuring charges - job cuts were announced 3 months ago - and higher pension expenses. 90 bps is attributed to forex, and 60 bps to lower services and technology (product) margins. Services GM fell 120 bps to 15.7%; tech GM fell 590 bps to 43.9%.
    • Also: Services backlog fell $100M Q/Q and $300M Y/Y to $4.4B. Unisys states lower North American orders for cloud and infrastructure services led orders to drop Y/Y.
    • Key numbers: Services revenue -6% Y/Y to $661.5M. Tech revenue flat at $103M. U.S./Canada revenue +23%; other markets -24% (-10% exc. forex). Excluding charges, SG&A/R&D spend fell 10%. Unisys ended Q2 with $365M in cash and $256M in debt.
    • Q2 results, PR
    | Fri, Jul. 24, 12:09 PM | Comment!
  • Thu, Jul. 23, 4:37 PM
    • Unisys (NYSE:UIS): Q2 EPS of $0.33 may not be comparable to consensus of -$0.38.
    • Revenue of $765M (-5.1% Y/Y) beats by $15.83M.
    • Press Release
    | Thu, Jul. 23, 4:37 PM | Comment!
  • Wed, Jul. 22, 2:40 PM
    • Mark A. Forman, once the administrator of the Office of E-Government and IT during the Bush administration, has been named head of Unisys' (UIS -1.4%) global (non-U.S. federal) public sector ops. The business accounted for 26% of Q1 revenue.
    • Also: Former Army Major General Jennifer Napper has been named VP of Unisys' DOD and Intelligence Group.
    • The appointments are the latest in a slew of executive shakeups made by new CEO Peter Altabef. Q2 results arrive Thursday afternoon.
    | Wed, Jul. 22, 2:40 PM | Comment!
  • Mon, Jun. 1, 1:10 PM
    • Tarek El-Sadany, formerly Oracle's VP of Global Product Support Services and before that the COO/CTO of a healthcare software firm, has been hired by Unisys (UIS +1.3%) to fill the newly-created position of CTO. He'll be in charge of product development, and report to CEO Peter Altabef.
    • Atlabef has made a string of executive hires since becoming CEO last December. He has also launched a restructuring expected to cut headcount by 8%.
    | Mon, Jun. 1, 1:10 PM | Comment!
  • Fri, Apr. 24, 2:46 PM
    • Unisys (NYSE:UIS) is down sharply after missing Q1 revenue estimates (while beating on EPS) thanks to a 16% Y/Y drop in non-U.S./Canada revenue. A strong dollar exacted a heavy toll: Non-U.S./Canada sales were down only 5% in constant currency.
    • Along with its results, the mainframe/IT services provider (4 months removed from getting a new CEO) has announced it's launching a restructuring expected to cut headcount by 8%, and yield $200M/year in savings by the end of 2016. $300M in restructuring charges are expected over the next several quarters.
    • The services backlog was $4.5B at the end Q1, -$300M Q/Q (seasonality) but flat Y/Y. Services revenue fell 6% Y/Y to $639M, while Technology (mainframe/server) revenue rose 3% to $82M. U.S. federal revenue +13%,, other public sector -10%, financial industry -10%, commercial industry -7%.
    • Gross margin fell 130 bps Y/Y to 16.2%, and operating expenses fell 4% to $147M. $128.8M was spent on SG&A, and $18.2M on R&D.
    • Q1 results, PR
    | Fri, Apr. 24, 2:46 PM | Comment!
  • Thu, Apr. 23, 4:37 PM
    • Unisys (NYSE:UIS): Q1 EPS of -$0.32 beats by $0.60.
    • Revenue of $721.2M (-5.3% Y/Y) misses by $14.85M.
    • Press Release
    | Thu, Apr. 23, 4:37 PM | Comment!
  • Wed, Apr. 15, 4:25 PM
    • Casey Coleman, formerly the CIO for the U.S. General Services Administration (provides services for various federal agencies), has been named the VP of Unisys' (NYSE:UIS) civilian federal agency unit (Unisys Federal).
    • News of the hiring arrives shortly after Unisys named Neil Gissler, formerly Accenture's tech consulting division lead, its SVP of services. Gissler's new job puts him in charge of Unisys' global services ops, as well as its "worldwide network of client service centers, software development centers and data centers."
    • The hirings come 4 months after former Perot Systems/Micros chief Peter Altabef was named CEO. Q1 results are due on April 23.
    | Wed, Apr. 15, 4:25 PM | 1 Comment
  • Fri, Apr. 10, 3:05 PM
    • Today's notable tech gainers include IP licensing firm VirnetX (VHC +6%), custom parts maker Proto Labs (PRLB +4.6%), printing plate/commercial film maker Eastman Kodak (KODK +3.9%), cloud HR software vendor Paylocity (PCTY +3.7%), cloud telecom expense software vendor Tangoe (TNGO +4.2%), and cloud tech support software vendor (SPRT +6.7%). The Nasdaq is up 0.4%.
    • Only a few tech companies are posting major declines. The group includes Chinese online video platform Youku (YOKU -5.7%) and mainframe/high-end server maker Unisys (UIS -3.4%).
    • Following a rough 2014, VirnetX is up 34% in 2015; 15.9M shares were shorted as of March 13. Proto Labs has broken out of the narrow range shares have traded in since mid-February.'s gains come a day after the company disclosed a new contract with Comcast. Paylocity is erasing the losses seen yesterday following a BofA downgrade. Kodak is up 13% since posting Q4 results on March 16.
    • Youku, quite volatile lately, is giving back a chunk of Wednesday's big gains. Unisys' decline comes ahead of its April 23 Q1 report. On Wednesday, the company announced it's supplying high-end servers and cybersecurity software to NASA through the agency's SEWP V contract (covers multiple suppliers, worth up to $20B over 10 years).
    • Previously covered: 3D Systems, Alcatel-Lucent, Nokia, LinkedIn, GoDaddy, FireEye, Turtle Beach, Mavenir/Mitel, Gigamon, Synacor
    | Fri, Apr. 10, 3:05 PM | Comment!
  • Fri, Jan. 30, 11:18 AM
    • When asked on Unisys' (NYSE:UIS) Q4 CC (transcript) if the company is aiming for "somewhere around flat" 2015 growth for its Technology (hardware) segment, CFO Janet Haugen responded with cautious remarks. "We've got a 6 percentage point negative impact on currency in the quarter ... we've got two headwinds in that technology revenues, one is the currency impact on year-over-year basis and second a lower renewal opportunity than we would have had previously."
    • Unisys' 2015 total revenue growth consensus is at 3%. In Q4, the company's Technology revenue rose 1% Y/Y to $184.9M, and its services revenue (driven in part by past hardware sales) fell 11% to $720.9M.
    • Services margins also received attention from analysts: Unisys' services gross margin fell to 17.5% in Q4 from 21.9% a year ago, and services op. margin to 3.9% from 9.8%. When asked if Unisys can expand services margins in the event of declining revenue, new CEO Peter Altabef said he doesn't "want to have to face that choice."
    • Services backlog was flat Y/Y in Q4 at $4.8B. Unisys expects $635M and $2B of its services backlog to respectively convert into Q1 and 2015 revenue. Total revenue consensus estimates for Q1 and 2015 are respectively at $767.1M and $3.46B.
    • Q4 results, PR
    | Fri, Jan. 30, 11:18 AM | Comment!
Company Description
Unisys Corp is an information technology company. It offers outsourcing & managed services, systems integration & consulting services, high-end server technology, cybersecurity & cloud management software, & maintenance & infrastructure support services.