Unisys Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
January 29, 2015 at 04:30 pm EST
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Unisys Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenue of $905.8 million compared to $995.9 million for the same period last year. Operating profit was $82.4 million compared to $155.9 million for the same period last year. Income before income taxes was $88.6 million compared to $152.4 million for the same period last year. Consolidated net income was $64.7 million compared to $124.2 million for the same period last year. Net income attributable to Unisys Corporation was $61.8 million compared to $121.5 million for the same period last year. Net income attributable to Unisys Corporation common shareholders was $61.8 million compared to $117.4 million for the same period last year. Diluted earnings per common share attributable to Unisys Corporation were $1.24 compared to $2.37 for the same period last year. Non-GAAP net income attributable to Unisys Corporation common shareholders was $79.9 million compared to $140.6 million for the same period last year. Non-GAAP net income attributable to Unisys Corporation for diluted earnings per share was $79.9 million compared to $144.7 million for the same period last year. Non-GAAP net income per diluted share was $1.60 compared to $2.82 for the same period last year. In the fourth quarter of 2014, the company generated $106 million of cash from operations, including $22 million of pension contributions. In the fourth quarter of 2013, the company generated $141 million of cash from operations, including $45 million of pension contributions. Capital expenditures were $69 million compared with $48 million in the year-ago quarter. The company generated $37 million of free cash flow in the fourth quarter of 2014 compared with free cash flow of $93 million in the fourth quarter of 2013.
For the year, the company reported revenue of $2,887.7 million compared to $2,996.1 million for the same period last year. Operating profit was $154.9 million compared to $219.5 million for the same period last year. Income before income taxes was $145.5 million compared to $219.4 million for the same period last year. Consolidated net income was $59.3 million compared to $120.1 million for the same period last year. Net income attributable to Unisys Corporation was $46.7 million compared to $108.5 million for the same period last year. Net income attributable to Unisys Corporation common shareholders was $44.0 million compared to $92.3 million for the same period last year. Diluted earnings per common share attributable to Unisys Corporation were $0.89 compared to $2.08 for the same period last year. Net cash provided by operating activities was $121.4 million compared to $187.4 million for the same period last year. Capital additions of properties were $53.3 million compared to $47.2 million for the same period last year. Capital additions of outsourcing assets were $85.9 million compared to $39.9 million for the same period last year. Non-GAAP net income attributable to Unisys Corporation common shareholders was $117.2 million compared to $182.3 million for the same period last year. Non-GAAP net income attributable to Unisys Corporation for diluted earnings per share was $119.9 million compared to $198.5 million for the same period last year. Non-GAAP net income per diluted share was $2.36 compared to $3.87 for the same period last year.
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.