Image may be NSFW.
Clik here to view.
It’s really hard – yet again – to find any good news in Unisys’ Q1 results (to 31st March). The prior couple of quarters were grim (see Unisys feels the pain) but now the company is back in net loss after a dramatic decline in revenues from US Federal Sector and other non-operating charges. Headline revenues fell by 6% to $911m with services down 6% to $800m. Services gross margins lost a point to 18.2%, with a flat backlog over the prior quarter. Services orders were down “double digits”.
Unisys chairman and CEO, Ed Coleman, is fighting a battle on two fronts – market and financial – as he tries to reduce the company’s debt while pitching a portfolio of products and services which just don’t seem attractive in today’s marketplace. Makes you wonder – yet again – where does Unisys go from here?
