Unisys significantly narrows losses in 2016

Unisys announced its full year 2016 financial results on Friday, as the company confirmed it achieved its full-year guidance.

The London-listed company said operating cash flow increased by $217m year-on-year to $218m, while adjusted free cash flow was $278m, ahead of guidance of $160m-200m and up $283m year-on-year.

Operating profit margin was 2%, up 350 basis points, and the non-GAAP operating profit margin was in line with guidance at 7.7%, up 190 basis points.

Revenue was in line with guidance at $2.8bn.

Diluted losses per share were 95 cents, which was a year-over-year improvement compared to losses of $2.20 per share in 2015.

Total contract value signed increased by 13% over 2015.

“Our 2016 results deliver on our full-year revenue and non-GAAP operating profit margin guidance and exceed our full-year guidance on adjusted free cash flow,” said said Unisys president and CEO Peter Altabef.

“They demonstrate a commitment to execution against the goals we set out at the beginning of the year, including improving our cost structure and cash flow.

“As we look to the year ahead, we intend to continue our disciplined financial focus, executing on our vertical go-to-market strategy and differentiating our offerings by building leading security into our full solution set.”