Unisys Investor Day Highlights Strategic Initiatives, Next-Gen Solution Portfolio and Roadmap for Continuous Innovation
BLUE BELL, Pa., June 16, 2023 /PRNewswire/ -- On Thursday, Unisys (NYSE: UIS) hosted their Investor Day in New York City, where close to 50 in-person and virtual attendees learned from Unisys senior leadership about the company's strategic vision, portfolio of enhanced solutions and its multi-year financial targets.
Investors were presented with client examples that showcase how Unisys goes to market, the role the company plays in helping clients solve their most critical business challenges and the strong demand for Next-Gen IT solutions aligned with the company's solutions portfolio.
"I'm proud to spend time with our investors and talk about the opportunities we have ahead of us," said Debra McCann, Unisys chief financial officer. "We're confident that we have the right strategy, solution portfolio and team to grow revenue and free cash flow and increase shareholder value."
A webcast replay is available for viewing at www.unisys.com/investor. Please direct any questions to Unisys Investor Relations, via e-mail, at investor@unisys.com.
Forward-Looking Statements
This press release and the accompanying presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Unisys Corporation (Unisys or the Company) cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond Unisys' ability to control or estimate precisely, such as estimates of future market conditions, the behavior of other market participants and that ACV and TCV are based, in part, on the assumption that each of those contracts will continue for their full contracted term. Words such as "anticipates," "estimates," "expects," "projects," "may," "will," "intends," "plans," "believes," "should" and similar expressions may identify forward-looking statements and such forward-looking statements are made based upon management's current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect upon Unisys. There can be no assurance that future developments will be in accordance with management's expectations, assumptions and beliefs or that the effect of future developments on Unisys will be those anticipated by management. Forward-looking statements in this press release and the accompanying presentation include, but are not limited to, our long-term targets for revenue, margins, adjusted EBITDA and free cash flow, growth of our Next-Gen solutions, market size, expansion and cross-selling opportunities, our ability to decrease SG&A, 2023 guidance for revenue, non-GAAP operating margin and adjusted EBITDA margin, gross margin relating to revenue and gross profit excluding License and Support, strategies or objectives for future operations and our pension liability, and statements regarding future economic conditions or performance.
Additional information and factors that could cause actual results to differ materially from Unisys' expectations are contained in Unisys' filings with the U.S. Securities and Exchange Commission (SEC), including Unisys' Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings, which are available at the SEC's web site, http://www.sec.gov. Information included in this press release and the accompanying presentation is representative as of the date of the presentation only and while Unisys periodically reassesses material trends and uncertainties affecting Unisys' results of operations and financial condition in connection with its preparation of management's discussion and analysis of results of operations and financial condition contained in its Quarterly and Annual Reports filed with the SEC, Unisys does not, by including this statement, assume any obligation to review or revise any particular forward-looking statement referenced herein in light of future events.
Non-GAAP Measures
This press release and the accompanying presentation includes non-GAAP financial information such as non-GAAP operating profit, EBITDA, adjusted EBITDA, and revenue excluding License and Support. The Company's non-GAAP financial measures exclude certain items such as postretirement expense and cost-reduction activities and other expenses that the Company believes are not indicative of its ongoing operations, as they may be unusual or non-recurring. The inclusion of such items in financial measures can make the Company's profitability and liquidity results difficult to compare to prior periods or anticipated future periods and can distort the visibility of trends associated with the Company's ongoing performance. Management also believes that non-GAAP measures are useful to investors because they provide supplemental information about the Company's financial performance and liquidity, as well as greater transparency into management's view and assessment of the Company's ongoing operating performance.
The following measures are often provided and utilized by the Company's management, analysts, and investors to enhance comparability of year-over-year results. Non-GAAP operating profit excludes pretax postretirement expense and pretax charges in connection with cost-reduction activities and other expenses. EBITDA is calculated by starting with net income (loss) attributable to common shareholders and adding or subtracting the following items: net income (loss) attributable to noncontrolling interests, interest expense (net of interest income), provision for (benefit from) income taxes, depreciation and amortization. Adjusted EBITDA further excludes postretirement expense and cost-reduction activities and other expenses, non-cash share-based expense, and other (income) expense adjustments. Revenue and gross profit excluding License and Support excludes revenue and gross profit in connection with software license and support revenue within the Company's Enterprise Computing Solutions segment. The Company provides these measures to allow investors to isolate the impact of software license renewals, which tend to be lumpy, and related support services in order to evaluate the Company's business outside of these areas.
These measures should not be relied upon as substitutes for, or considered in isolation from, measures calculated in accordance with U.S. GAAP. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found in the appendix to the presentation accompanying this press release except for financial guidance and other forward-looking information since such a reconciliation is not practicable without unreasonable efforts. This information has been provided pursuant to the requirements of SEC Regulation G.
About Unisys
Unisys is a global technology solutions company that powers breakthroughs for the world's leading organizations. Our solutions – digital workplace; cloud, applications & infrastructure; enterprise computing; and business process – help our clients challenge the status quo and create new possibilities. To learn how we deliver breakthroughs for our clients, visit unisys.com.
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RELEASE NO.: 0616/9912
Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.
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