Wed, Jul. 27, 3:00 PM
Wed, Jul. 27, 12:44 PM
Tue, Jul. 26, 5:36 PM
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Mon, Jul. 25, 5:35 PM
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Wed, Jun. 22, 3:00 PM
Thu, Apr. 21, 4:36 PM
- Unisys (NYSE:UIS): Q1 EPS of $0.11 beats by $0.05.
- Revenue of $667M (-7.5% Y/Y) beats by $11.63M.
Wed, Apr. 20, 5:35 PM
Tue, Mar. 15, 6:12 PM
- Unisys (NYSE:UIS) has finished selling $190M worth of 5.5% senior convertible notes due 2021. After backing out an initial purchasers' discount and capped call transactions, net proceeds total $160M. The initial purchaser has a $28.5M overallotment option.
- The notes carry a conversion price of $9.76/share - 34% above current levels, but well below a 52-week high of $24.38, and also below where shares last traded ($11.03) before Unisys first announced it plans a convertible offering last week.
Wed, Mar. 9, 12:47 PM
Wed, Mar. 9, 10:36 AM
- Unisys (UIS -22%) plans to sell $150M worth of convertible senior notes due 2021, and grant the initial purchaser a $22.5M overatllotment option. For reference, Unisys closed yesterday with a $554M market cap.
- Net proceeds will be used for general corporate purposes, which (per Unisys) could include cost-reduction efforts, pension obligations, investments in new services/technologies, and paying down existing debt.
- The mainframe/IT services provider had $365M in cash and $312M in debt at the end of 2015.
Fri, Jan. 29, 12:44 PM
Fri, Jan. 29, 11:32 AM
- Unisys (UIS +23.1%) has soared after beating Q4 estimates in spite of a revenue miss, and using its earnings call (transcript) to guide for 2016 adjusted free cash flow of $160M-$200M, a marked improvement from 2015's -$6M. 2016 revenue guidance of $2.775B-$2.875B is below a 3-analyst $2.98B consensus and reported 2015 revenue of $3.015B (-10% Y/Y).
- Cost cuts are lifting EPS/cash flow: Unisys says it exited 2015 with $100M in annualized savings related to cost reduction efforts, and predicts it will double its run rate by the end of 2016. Non-GAAP op. margin is expected to rise to 7%-8% in 2016 from 2015's 5.8% and 2014's 6.8%.
Segment performance: Technology (hardware/software) revenue remains pressured: It fell 35% Y/Y in Q4 to $140.8M. Services revenue fell 6% to $649.1M. Technology op. margin nonetheless rose 290 bps Y/Y to 24.8%; services op. margin fell 110 bps to 2.3% (forex is blamed).
Services bookings fell 55% Y/Y to $550M, and the services backlog 10% to $4.31B. 42% of services backlog is expected to convert into revenue in 2016.
- Adjusted free cash flow nearly doubled Y/Y in Q4 to $117M. Unisys ended Q4 with $365.2M in cash and $311.3M in debt.
- Unisys' Q4 results, earnings release
Thu, Jan. 28, 4:35 PM
- Unisys (NYSE:UIS): Q4 EPS of $1.58 beats by $0.52.
- Revenue of $790M (-12.8% Y/Y) misses by $11.57M.
Wed, Jan. 27, 5:35 PM| Wed, Jan. 27, 5:35 PM | 9 Comments
Wed, Jan. 13, 2:59 PM
- It's another ugly day for stocks, with the S&P down 2.1% and the Nasdaq 2.9%. Many high-beta tech names are naturally seeing even steeper declines.
- Major decliners include driver-assistance hardware/software provider Mobileye (MBLY -6.4%), travel reviews/bookings search site TripAdvisor (TRIP -5.8%), mobile payments provider/recent IPO Square (SQ -7%), online furniture leader Wayfair (W -6.2%), craft/vintage goods marketplace Etsy (ETSY -7.2%), SMB Web services provider Wix.com (WIX -7.9%), and CAD/CAM software leader Autodesk (ADSK -7.7%).
- Others include gaming headset vendor local reviews leader Yelp (YELP -6%), Turtle Beach (HEAR -19.5%), wireless charging tech developer Energous (WATT -14.2%), cloud HR software firm Paylocity (PCTY -7.3%), e-commerce software/services firm Shopify (SHOP -8.9%), e-commerce services firm ChannelAdvisor (ECOM -8.5%), mainframe/IT services provider Unisys (UIS -7%), and car-buying site TrueCar (TRUE -6.7%).
- Previously covered: Qorvo, Cimpress, Tableau, Multi-Fineline, LendingTree, Twitter