Unisys raises full-year guidance after bumper first quarter
Unisys Corp.
$5.45
15:09 19/04/24
Unisys Corporation reported its first-quarter financial results on Friday, raising its full-year guidance for non-GAAP adjusted revenue and reaffirmed its full-year guidance for its non-GAAP operating profit margin and adjusted EBITDA margin.
Software & Computer Services
2,380.95
12:50 23/04/24
The US-based information technology company said services revenue grew 7.7% year-on-year, or 11.7% on a constant-currency basis.
Services non-GAAP adjusted revenue was ahead 7.3% year-on-year, which was the highest quarterly rate since 2003.
Total first quarter revenue slipped to $695.8m from $708.4m a year ago, with the board putting that down to an additional $53m of revenue recorded upon the adoption of ASC 606 in the first quarter of 2018.
That revenue figure was ahead 2.3% on a constant-currency basis, with total non-GAAP adjusted revenue rising 5.9% year-on-year, which was the highest quarterly rate since 2014.
Unisys said its services backlog was stable at $4.7bn.
The firm raised its full-year guidance for non-GAAP adjusted revenue from annual growth of between 1% and 4% to growth of between 2 and 5%, and reaffirmed its guidance for non-GAAP operating profit margin and adjusted EBITDA margin.
“We are excited to see top-line momentum continue, with another quarter of non-GAAP adjusted revenue growth, including the highest quarterly growth we have seen in services since 2003,” said Unisys chairman and chief executive officer Peter Altabef.
“We are maintaining our client-centric focus and delivering transformative, secure solutions, and we were pleased to see continued traction with our strategy in the first quarter.”