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Unisys Corporation Message Board

  • qtmssngarnd qtmssngarnd Oct 24, 2013 10:34 AM Flag

    My take

    If you are a UIS trader, I guess you can find something here to encourage you. Otherwise, I don't see much to show any light at the end of the tunnel, long term.

    Services rev continues to fall. Slow death. Colemans comment about margin improvement amounts to a few BPS. Interestingly, the only service segment that was up was maintenance! I guess the saving grace is that IBM and others had their own woes.

    They highlighted challenges in Asia, but that accounts for less than 20% the business. Must have been really big. On the other hand, IBM also had shortfalls there in China.

    Nowhere do they blame the government shutdown for the revenue shortfall, unless they mentioned it on the call. Neither did IBM.

    From a technology perspective, Coleman wants to maintain a stable technology base. He did not say CP base, although he alluded to that separately. Guess you can read too much into PPT slides, but there was no indication that Stealth or Forward was going to launch a technology renaissance and turn technology revenue upward. They have been flogging Stealth for decade. I am not totally clear on Forward, but I doubt it will replace CP gross margins. Once again, they announce a new initiative with no customer references. IBM hardware was down 17% but mainframe revenue was up.

    I don't talk to insiders as much as I used to, but when I do, I don't get much optimism.

10.40-0.34(-3.17%)Oct 27 4:04 PMEDT