Welcome to our dedicated page for Unisys Corporation news (Ticker: UIS), a resource for investors and traders seeking the latest updates and insights on Unisys Corporation stock.
Unisys Corporation (NYSE: UIS) is a global information technology company that provides innovative, industry-focused solutions integrated with cutting-edge security to clients in government, financial services, and commercial markets. The company operates through three main segments: Digital Workplace Solutions (DWS), Cloud, Applications & Infrastructure Solutions (CA&I), and Enterprise Computing Solutions (ECS).
Digital Workplace Solutions (DWS) focuses on transforming digital workplaces securely to create exceptional end-user experiences. This segment has witnessed increased activity with existing clients, contributing to consistent growth.
Cloud, Applications & Infrastructure Solutions (CA&I) offers digital platform services, application solutions, and infrastructure management. The segment is known for its robust digital platform solutions, and its recent performance has been bolstered by new business with existing clients.
Enterprise Computing Solutions (ECS) harnesses secure, continuous high-intensity computing to enable digital services through software-defined operating environments. The ECS segment recently unveiled the Unisys Logistics Optimization™ solution, leveraging quantum computing, advanced analytics, and pre-trained AI models to address complex logistics challenges more efficiently.
Financially, Unisys reported another solid quarter with a 0.7% year-over-year revenue growth. The company saw a significant increase in Next-Gen Solutions pipeline, indicating a strong market reception to its innovations. Recent reports highlight a robust pipeline and increased client consumption levels, particularly in the Digital Workplace Solutions and Cloud, Applications & Infrastructure Solutions segments.
Unisys has also been proactive in reducing its pension liabilities and volatility, completing multiple retiree buyouts while securing benefits with highly-rated insurance companies. Significant partnerships, like those with F&G Annuities & Life, reflect Unisys' strategic management of pension obligations.
The company has also been recognized for its innovative rebranding efforts, winning the top prize at The Drum Awards Festival in the B2B: Rebrand or Relaunch category. The new brand positioning, 'Experience Breakthroughs,' underscores Unisys' commitment to enabling transformative breakthroughs for its clients.
Unisys is committed to continuous improvement and growth. The company has reiterated its full-year 2024 revenue growth and profitability guidance, emphasizing its strong performance pipeline and strategic market position. Its leadership team, led by CEO Peter A. Altabef, remains focused on leveraging new technologies and driving operational efficiencies to unlock value for clients and shareholders.
Unisys Corporation (NYSE: UIS) announced it will co-host a National Cybersecurity Moonshot Virtual Workshop on October 5-6, 2020, focusing on cyber education. This workshop, in collaboration with American University, CIS, and I3P, aims to enhance the quality and diversity of cybersecurity talent. Keynote speakers include prominent figures from government and academia. CEO Peter Altabef emphasized the importance of partnerships in cultivating diverse talent and addressing cybersecurity challenges through education, particularly in advanced technologies like AI and quantum encryption.
Unisys Corporation (NYSE: UIS) announced that Shawn Kingsberry, VP of Digital Government and Citizen Services, has been named 'Industry Leadership of the Year' at the 2020 StateScoop 50 Awards. The accolade recognizes his contributions in modernizing IT infrastructure for state governments. Kingsberry's expertise has greatly benefitted states like Georgia, Hawaii, Kansas, and Virginia in digital modernization projects. The awards highlight key leaders and projects in state IT, with winners selected from over two million national votes.
Unisys Corporation (NYSE: UIS) has opened registration for the 12th edition of its annual technical project competition, Cloud 20/20, aimed at engineering students across India. Established in 2009, the competition fosters career development by allowing students to apply theoretical knowledge to real-world problems through two programs: the Student Innovation Program (SIP) and the Targeted Innovation Program (TIP). With nearly 50,000 individual registrations since inception, the contest continues to thrive as a significant platform for student engagement in technology and innovation.
Unisys Corporation (NYSE: UIS) has been recognized by Information Services Group (ISG) for its partnership with the Philippine Statistics Authority (PSA) at the 2020 ISG Paragon Awards APAC. Their collaboration on modernizing the Civil Registry System (CRS) significantly improved accessibility and processing times for citizens seeking vital documents. Fulfillment times were reduced from days to under two hours, and citizen satisfaction surged to 86%. The project has digitized approximately 175 million records, projecting an annual output of 4 million documents, demonstrating Unisys' impact on community service improvements.
Unisys Corporation (NYSE: UIS) has achieved ONE Order certification from the International Air Transport Association (IATA) for its AirCore® Passenger Services System. This certification modernizes airline order management by consolidating various processes into a single standardized order record. The AirCore system enhances customer service, reduces operational costs, and improves revenue generation through better retail capabilities for airlines. It complements existing systems and has previously secured NDC Level 4 certification, underscoring its comprehensive operational support.
Unisys Corporation (NYSE: UIS) has launched a new secure payment platform leveraging its Digistics™ air cargo software. This platform allows cargo providers to expedite shipments and reduce payment costs while offering convenient payment methods such as ACH debits and credit card payments. Delta Cargo has already integrated this platform, enhancing payment efficiency. The solution, developed with PayCargo, facilitates quicker payments and same-day cargo release, thus improving cash management and reducing administrative costs for airlines.
Unisys Corporation (NYSE: UIS) announced a major multi-phase project with the State of Nevada's Department of Public Safety to modernize the Nevada Criminal Justice Information System (NCJIS). This initiative aims to enhance law enforcement and public safety through upgraded information handling and improved background check processes. The project leverages Unisys' CloudForte® and Law Enforcement Message Switch solutions, with support from Diverse Computing, Analysts International, and Tailored Solutions. The primary applications will be hosted on the Microsoft Azure Government Cloud.
Unisys Corporation (NYSE: UIS) reported its second-quarter 2020 results with a revenue of $438.8 million, a 22.9% decrease from $569.4 million year-over-year, attributed mainly to COVID-19 impacts and the timing of ClearPath Forward contract renewals. Operating profit margin fell to (1.9%) from 9.3% in the previous year. Non-GAAP operating profit margin was at 0.2%, down from 9.8%. Net loss reached $76.5 million, with a diluted EPS of ($1.21). The company maintains its full-year revenue expectations unchanged at a 10% decline year-over-year, while services gross profit margin improved sequentially to 15.5%.
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