Unisys Announces First-Quarter 2015 Financial Results
BLUE BELL, Pa., April 23, 2015 /PRNewswire/ — Unisys Corporation (NYSE: UIS) today reported a first-quarter 2015 net loss of $43.2 million, or 87 cents per diluted share, which included $27.4 million of pension expense.
In the first quarter of 2014, the company reported a net loss of $53.5 million, or $1.15 per diluted share, which included $19.3 million of pension expense. Excluding pension expense in both periods, the non-GAAP diluted loss per share in the first quarter of 2015 was 32 cents compared to 74 cents in the first quarter of 2014.
First-quarter 2015 revenue declined 5 percent to $721 million from $762 million in the year-ago quarter. First-quarter 2015 revenue grew 1 percent on a constant currency basis.
“We were pleased to see revenue growth of 1 percent on a constant currency basis during the first quarter of 2015 and 13 percent growth in our U.S. Federal government business,” said Unisys President and CEO Peter Altabef. “While our technology margins increased, our service margins declined. We are taking actions to streamline our business by enhancing our competitiveness and accelerating the pace of innovation. Our focus is on making Unisys an agile leader that can anticipate and rapidly respond to market opportunities globally.”
In connection with organizational initiatives designed to create a more competitive cost structure and rebalance the company’s global skill set to take advantage of growth opportunities, Unisys expects to recognize a pretax restructuring chargeThe amount of electricity present upon the capacitor’s plates. Also, the act of forcing of electrons onto the capacitor’s plates. See CoulombA coulomb is the unit of electric charge. It is named after Charles-Augustin de Coulomb.1 coulomb is the amount of electric charge transported by a current of 1 ampere in 1 second. It can also be defined in terms of capacitance and voltage, where one coulomb is defined as one farad of capacitance times one volt of electric potential difference.. currently estimated at approximately $300 million over the next several quarters. The company expects to reduce worldwide headcount by approximately 8 percent. As a result of these actions, the company expects to generate annualized savings of approximately $200 million by the end of 2016.