Unisys Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenue of $979 million, which was down 1% year-over-year. Currency had a 1 percentage point negative impact. So on a constant currency basis, revenue was flat. Operating profit was $114.6 million. Pretax income was $109.4 million compared to $111.3 million in the fourth quarter of 2011. Non-GAAP pretax income was $140.9 million in 2012 compared to $127 million in 2011. Net income attributable to the company was $81.8 million and net income of $88.9 million against net income attributable to the company was $94.3 million and net income was $98.9 million a year ago. The non-GAAP net income rose to $112.2 million from $108.6 million in last year. Diluted earnings per common share was $1.67 compared to $1.94 in the year-ago quarter. Non-GAAP diluted EPS improved to $2.27 compared to $2.22 in the fourth quarter of 2011. Capital expenditures were $35.9 million against $33.3 million in the fourth quarter of 2011. The company generated free cash flow of $118 million against free cash flow generation of $126.2 million for the same period last year. Free cash flow before the pension cash contributions was $144.4 million for the fourth quarter of 2012 against $145.3 million in the fourth quarter of 2011. Excluding the impact of the debt reduction charges and the pension expense, the company generated adjusted EBITDA of $186.6 million for the fourth quarter of 2012 against $182.7 million in the fourth quarter of 2011.

The full year revenue of $3.7 billion was down 4%, down 1% on a constant currency basis. For the full year 2012 on lower revenue, operating profit of $319.2 million was down 2% against 2011. Pretax income in 2012 was $254.1 million compared to $206 million in 2011. Non-GAAP pretax income was $392.9 million in 2012 compared to $339 million in 2011. Net income increased to $129.4 million from $120.5 million for 2011. Non-GAAP net income was $265.4 million in 2012 compared to $242.6 million in 2011. Diluted earnings per common share rose to $2.84 from $2.71 a year ago. Non-GAAP diluted earnings per share was $5.50 compared to $5.18 in 2011. Capital expenditures were $132.6 million against $134.4 million in 2011. Free cash flow before pension cash contributions was $330.2 million during 2012 against $265.5 million in 2011. The company generated adjusted EBITDA of $583.8 million for the full year of 2012 against $589.7 million in 2011. Net cash provided by operating activities was $261.3 million against $317.2 million a year ago. Capital additions of properties was $40.1 million against $42.2 million a year ago. Capital additions of outsourcing assets was $36.1 million against $40.5 million a year ago. The company generated free cash flow of $128.7 million against of $182.8 million for the same period last year. Free cash flow before the pension cash contributions was $330.2 million against $265.5 million a year ago.

The company anticipates full year capital expenditures during 2013 to be in the range of $150 million to $175 million. For 2013, the company expects full year depreciation and amortization to be in the range of $150 million to $175 million. The company exceeded 2013 goal of increasing pretax profit to $350 million excluding pension expense.