Unisys Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015: Provides Earnings Guidance for the Full Year of 2016
January 28, 2016 at 04:30 pm
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Unisys Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported revenue of $789.9 million compared to $905.8 million for the same period last year. Operating profit was $15.8 million compared to $82.4 million for the same period last year. Income before income taxes was $12.4 million compared to $88.6 million for the same period last year. Consolidated net income was $1.3 million compared to $64.7 million for the same period last year. Net income attributable to the company was $1.1 million compared to $61.8 million for the same period last year. Net income attributable to the company's common shareholders was $1.1 million compared to $61.8 million for the same period last year. Basic and diluted earnings per common share attributable to the company were $0.02 compared to $1.24 for the same period last year. Non-GAAP operating profit was $95.5 million compared to $100.7 million for the same period last year. Non-GAAP net income attributable to the company's common shareholders was $79.3 million. Non-GAAP net income attributable to the company's for diluted earnings per share was $79.3 million. Non-GAAP net income per diluted share was $1.58. The company generated $63.4 million of free cash flow in the fourth quarter of 2015 compared with $36.6 million in the fourth quarter of 2014. Adjusted free cash flow doubled from the prior year to $117 million.
For the year, the company reported revenue of $3,015.1 million compared to $3,356.4 million for the same period last year. Operating loss was $55.1 million compared to operating profit of $154.9 million for the same period last year. Loss before income taxes was $58.8 million compared to income before income taxes of $145.5 million for the same period last year. Consolidated net loss was $103.2 million compared to consolidated net income of $59.3 million for the same period last year. Net loss attributable to the company was $109.9 million compared to net income of $46.7 million for the same period last year. Net loss attributable to the company's common shareholders was $109.9 million compared to net income attributable to the company's common shareholders of $44.0 million for the same period last year. Basic and diluted loss per common share attributable to the company was $2.20 compared to earnings per share of $0.89 for the same period last year. Free cash flow was negative $212.5 million compared to $91.4 million a year ago. Non-GAAP operating profit was $176.1 million compared to $228.7 million for the same period last year. Net cash provided by operating activities was $1.2 million against $121.4 million a year ago. Capital additions of properties were $49.6 million compared to $53.3 million for the same period last year. Capital additions of outsourcing assets were $102.0 million compared to $85.9 million for the same period last year. Non-GAAP net income attributable to the company's common shareholders was $113.2 million. Non-GAAP net income per diluted share was $2.26. Adjusted free cash flow usage of $6 million declined $98 million from 2014.
For the year, the company expects revenue of $2.775 billion to $2.875 billion. The company anticipates a non-GAAP operating profit margin before the impact of company's cost-reduction charges and pension expense to increase to between 7% and 8%.
Unisys Corporation is an information technology (IT) solutions company. It provides its clients with advice and capabilities to architect, develop, modernize, implement and integrate the technologies that helps their organizations. It operates in three segments: Digital Workplace Solutions (DWS), Cloud, Applications & Infrastructure Solutions (CA&I) and Enterprise Computing Solutions (ECS). The DWS segment provides modern and traditional workplace solutions. The CA&I segment provides solution in Digital Platforms and Applications or Infrastructure, which includes cloud management, hybrid infrastructure, modern applications, data and AI, and cyber security. The ECS segment delivers proprietary and hybrid compute capabilities in the cloud and on-premises. It classifies its solution as either License and Support or Specialized Services and Next-Gen compute. Its product includes Unisys InteliServe, PowerSuite, Unisys Logistics Optimization, CloudForte, ClearPath Forward and Unisys Stealth.
Unisys Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015: Provides Earnings Guidance for the Full Year of 2016