Press Release: Unisys Announces Second-Quarter Results
Press Release: Unisys Announces Second-Quarter Results
*DJ Unisys 2Q Rev $438.8M >UIS
*DJ Unisys第二季度修訂版$4.38億>UIS
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August 04, 2020 16:01 ET (20:01 GMT)
2020年8月4日東部時間16：01(格林尼治標準時間20：01)
Press Release: Unisys Announces Second-Quarter Results
新聞稿：Unisys公佈第二季度業績
Unisys Announces Second-Quarter Results
Unisys公佈第二季度業績
Full-Year Revenue Expectations Unchanged, First Detailed Post COVID-19 Perspective on Profitability Expectations, Sequential Services Margin Expansion and Strong Liquidity Position
全年收入預期不變，首次詳細發佈新冠肺炎對盈利預期、順序服務利潤率擴大和強勁流動性狀況的看法
PR Newswire
美通社
BLUE BELL, Pa., Aug. 4, 2020
賓夕法尼亞州藍貝爾，2020年8月4日
BLUE BELL, Pa., Aug. 4, 2020 /PRNewswire/ --
賓夕法尼亞州藍貝爾，2020年8月4日/美通社/--
-- Full-year revenue expectations unchanged relative to end of Q1 at (10)% YoY -- Current expectations for full-year non-GAAP operating profit margin between 5.2% and 6.7% -- Services gross profit margin of 15.5%, up 260 basis points sequentially -- Strong cash balance of $782 million, relative to $790 million at the end of the first quarter -- Total company revenue of $439 million, relative to $569 million in prior-year period -- Total company operating profit margin of (1.9)%, relative to 9.3% in prior-year period, largely due to timing of ClearPath Forward(R) renewals within Technology -- Non-GAAP operating profit(5) margin of 0.2%, relative to 9.8% in prior-year period -- Total company pipeline(2) up 10.1% sequentially versus the first quarter -- Services Total Contract Value(3) ("TCV") up 1.4% year over year
--目前對全年非GAAP營業利潤率的預期為5.2%至6.7%--服務毛利率為15.5%，環比上升260個基點--強勁的現金餘額為7.82億美元，而第一季度末為7.9億美元--公司總收入為4.39億美元，上年同期為5.69億美元--公司總營業利潤率為(1.9%)，而去年同期為9.3%，這在很大程度上是由於技術部門ClearPath Forward(R)續訂的時機--非GAAP營業利潤(5)利潤率為0.2%，而上一年同期為9.8%--公司管道總數(2)比第一季度增長10.1%--服務總合同價值(3)(“TCV”)同比增長1.4%
Unisys Corporation (NYSE: UIS) today reported second-quarter 2020 financial results. "Our revenue expectations are unchanged for the full year 2020 and we now have enough visibility to provide profitability expectations for the year. Our client satisfaction is high, represented by an industry-leading Net Promoter Score, and our liquidity is strong coming out of the most challenging COVID-19 quarter." said Unisys Chairman and CEO Peter A. Altabef. "Approximately half of the year-over-year revenue decline in the quarter was due to COVID-related impacts within Services. The rest was driven by intra-year shifts in ClearPath Forward(R) renewal timing, currency movement and expected declines in our check-processing JV. While non-GAAP operating profit was down year over year, over 90 percent of this was due to lighter ClearPath Forward renewals in the quarter, which we view as a timing issue only."
Unisys公司(紐約證券交易所代碼：UIS)今天公佈了2020年第二季度的財務業績。我們對2020年全年的收入預期保持不變，現在我們有足夠的可見性來提供全年的盈利預期。我們的客户滿意度很高，代表着行業領先的Net Promoter得分，在最具挑戰性的新冠肺炎季度結束後，我們的流動性很強。Unisys董事長兼首席執行官彼得·A·阿爾塔貝夫説。該季度收入同比下降的大約一半是由於服務部門與COVID相關的影響。其餘的原因是ClearPath Forward(R)續訂時間的年內變化、匯率變動以及我們的支票處理合資企業的預期下降。雖然非GAAP營業利潤同比下降，但其中90%以上是由於本季度ClearPath向前續訂較少，我們認為這只是一個時間問題。
Second-Quarter 2020 Highlights
2020年第二季度亮點
YoY Revenue Growth YoY Profitability Services Technology Operating Net Revenue Revenue Revenue Profit Income EBITDA Diluted Growth Growth Growth Margin Margin Margin EPS
GAAP (22.9%) (17.7%) (51.6%) GAAP (1.9%) (17.4%) (4.1%) ($1.21)
Constant-Currency YoY (1,120) (1,750) (1,430) (GAAP) (19.8%) (14.4%) (49.7%) Change bps bps bps N/M
Non-GAAP (22.0%) (16.5%) N/A Non-GAAP 0.2% (2.2%) 11.4% ($0.15) YoY (960) bps (820) (540) N/M Change bps bps
年收入增長年年盈利能力服務技術營業淨收入利潤收入EBITDA稀釋增長利潤率每股收益
GAAP(22.9%)(17.7%)(51.6%)GAAP(1.9%)(17.4%)(4.1%)(1.21美元)
不變貨幣YoY(1,120)(1,750)(1,430)(GAAP)(19.8%)(14.4%)(49.7%)變動BP N/M
非GAAP(22.0%)(16.5%)N/A非GAAP 0.2%(2.2%)11.4%(0.15美元)同比(960)bps(820)(540)N/M變化bps
Beginning January 1, 2020, the historical results of the company's U.S. Federal business have been reflected in the company's consolidated financial statements as discontinued operations. Prior-period amounts have been reclassified to reflect the company's U.S. Federal business as discontinued operations. Throughout this release we only refer to the company's continuing operations.
從2020年1月1日開始，該公司美國聯邦業務的歷史業績已作為非連續性業務反映在公司的合併財務報表中。上期金額已重新分類，以反映該公司的美國聯邦業務為非持續業務。在本新聞稿中，我們僅指該公司的持續運營。
Summary of Second-Quarter 2020 Business Results
2020年第二季度業務業績摘要
Company:
公司：
Second-quarter revenue was $438.8 million, versus $569.4 million in the prior-year period, down 22.9% year over year (down 19.8% on a constant-currency(1) basis). Non-GAAP adjusted revenue(4) was $438.8 million, relative to $562.9 million in the prior-year period. Of the year-over-year declines, approximately half were due to impacts of COVID-19, including declines in field services, travel and transportation and volume-based BPO contracts; while the rest were due to the timing of ClearPath Forward contract renewals, currency movement and expected declines in the company's UK-based check-processing JV.
第二季度營收為4.388億美元，上年同期為5.694億美元，同比下降22.9%(按不變貨幣計算下降19.8%)。非GAAP調整後的收入(4)為4.388億美元，上年同期為5.629億美元。在同比下降中，大約一半是由於新冠肺炎的影響，包括現場服務、旅行和運輸以及基於數量的業務流程外包合同的下降；其餘的是由於ClearPath遠期合同續簽的時間、匯率變動以及該公司總部設在英國的支票處理合資企業的預期下降。
Second-quarter total company operating profit was $(8.5) million, versus $53.0 million in the prior-year period, and operating profit margin was (1.9)%, versus 9.3% in the second quarter of 2019. Total company non-GAAP operating profit was $0.8 million, versus $55.3 million in the prior-year period, and non-GAAP operating profit margin was 0.2%, versus 9.8% in the second quarter of 2019. Of the year-over-year decline in non-GAAP operating profit, $50.2 million was attributable to the flow through effect of lower Technology revenue (due to ClearPath Forward renewal timing) on a relatively fixed base of software development and support costs.
第二季度公司總營業利潤為850萬美元，而去年同期為5300萬美元，營業利潤率為1.9%，而2019年第二季度為9.3%。公司總非GAAP營業利潤為80萬美元，上年同期為5530萬美元，非GAAP營業利潤率為0.2%，2019年第二季度為9.8%。在非GAAP營業利潤同比下降中，5,020萬美元可歸因於較低的技術收入(由於ClearPath前瞻性續訂時間)對相對固定的軟件開發和支持成本基數的流動影響。
Net loss for the second quarter was $76.5 million versus net income of $0.7 million in the prior-year period. Similarly, the loss per share was $1.21, compared to earnings per share of $0.01 in the prior-year period. These metrics were impacted by $66.8 million of charges ($1.06 per share) in the period, including $28.5 million related to the early extinguishment of debt associated with the repayment of the previously-outstanding senior secured notes. Non-GAAP net loss for the second quarter was $9.7 million, versus non-GAAP net income of $33.6 million in the prior-year period. Non-GAAP diluted loss per share(9) was $0.15, versus non-GAAP earnings per share of $0.52 in the prior-year period. These year-over-year declines were largely due to the issues noted above with respect to revenue and operating profit.
第二季度的淨虧損為7650萬美元，而去年同期的淨收益為70萬美元。同樣，每股虧損為1.21美元，而去年同期每股收益為0.01美元。這些指標在此期間受到6680萬美元費用(每股1.06美元)的影響，其中2850萬美元與提前清償與償還先前未償還的優先擔保票據有關的債務有關。第二季度非GAAP淨虧損為970萬美元，而去年同期非GAAP淨收益為3360萬美元。非GAAP每股攤薄虧損(9)為0.15美元，上年同期非GAAP每股收益為0.52美元。這些同比下降的主要原因是上述收入和營業利潤方面的問題。
Adjusted EBITDA(8) was $50.2 million, relative to $94.5 million in the prior-year period, due to the issues noted above with respect to revenue and operating profit. Net income margin was (17.4)%, compared to 0.1% in the prior-year period, due to the profitability and charges noted above. Adjusted EBITDA margin was 11.4%, relative to 16.8% in the prior-year period.
調整後的EBITDA(8)為5,020萬美元，上年同期為9,450萬美元，原因是上述有關收入和營業利潤的問題。淨收入利潤率為(17.4%)%，上年同期為0.1%，這是由於上述盈利能力和費用。調整後的EBITDA利潤率為11.4%，而去年同期為16.8%。
Second-quarter cash used in operations was $14.2 million, versus operating cash flow of $50.9 million in the prior-year period. Adjusted free cash flow(11) was $(37.1) million, versus $14.3 million in the prior-year period. The year-over-year cash flow comparisons were impacted by significantly higher Technology revenue in the second quarter of 2019, based on ClearPath Forward renewal timing. At June 30, 2020, the company had $782.2 million in cash and cash equivalents, relative to $789.6 million at the end of the first quarter.
第二季度運營中使用的現金為1420萬美元，而去年同期的運營現金流為5090萬美元。調整後的自由現金流(11)為3710萬美元，上年同期為1430萬美元。根據ClearPath的遠期續訂時間，2019年第二季度的技術收入顯著增加，影響了與去年同期的現金流比較。截至2020年6月30日，該公司擁有7.822億美元的現金和現金等價物，而第一季度末為7.896億美元。
Pipeline:
管道：
Total company pipeline was up 10.1% sequentially versus the end of the first quarter.
與第一季度末相比，公司總流水線增長了10.1%。
Full-Year Expectations:
全年預期：
Full-year revenue expectations are unchanged relative to the end of the first quarter at (10)% YoY. Profitability expectations were not provided in the first quarter; however, the company's current expectations for full-year non-GAAP operating profit margin are between 5.2% and 6.7%.
全年收入預期與第一季度末持平，同比增長(10%)。第一季度沒有提供盈利預期；然而，該公司目前對全年非GAAP營業利潤率的預期在5.2%至6.7%之間。
Services:
服務：
Services revenue in the second quarter was $396.0 million, relative to $481.0 million in the prior-year period, down 17.7% year over year (down 14.4% in constant-currency). Services non-GAAP adjusted revenue was $396.0 million, relative to $474.5 million in the prior-year period. These declines were largely due to the COVID-19-related impact on field services, travel and transportation and volume-based BPO contracts, as well as anticipated declines in the company's UK-based check-processing JV. Services gross profit margin was 15.5%, versus 16.5% in the second quarter of 2019 and up 260 basis points sequentially versus the first quarter. Non-GAAP adjusted Services gross profit margin(6) was up 20 basis points year over year to 15.5%, versus 15.3% in the prior-year period, and was up 280 basis points sequentially. Services operating profit margin was (0.4)%, versus 1.9% in the second quarter of 2019. Second-quarter non-GAAP adjusted Services operating profit(7) margin was (0.4)%, versus 0.5% in the prior-year period, and was up 310 basis points sequentially. The year-over-year declines in operating profit margin were largely due to the flow-through impact of lower revenues against SG&A costs that are more fixed in the short-term, relative to cost of revenue. Services backlog was $3.6 billion, relative to $3.7 billion at the end of the first quarter. Services TCV was up 1.4% year over year.
第二季度服務收入為3.96億美元，上年同期為4.81億美元，同比下降17.7%(按不變貨幣計算下降14.4%)。服務非GAAP調整後的收入為3.96億美元，而去年同期為4.745億美元。這些下降主要是由於與新冠肺炎相關的對現場服務、旅行和運輸以及基於數量的業務流程外包合同的影響，以及該公司位於英國的支票處理合資企業的預期下降。服務毛利率為15.5%，而2019年第二季度為16.5%，環比增長260個基點。非GAAP調整後服務毛利率(6)同比增長20個基點，達到15.5%，上年同期為15.3%，環比增長280個基點。服務運營利潤率為(0.4%)，而2019年第二季度為1.9%。第二季度非GAAP調整後的服務營業利潤(7)利潤率為(0.4%)%，而去年同期為0.5%，環比上升310個基點。營業利潤率的同比下降主要是由於收入相對於SG&A成本的流動影響，相對於收入成本，SG&A成本在短期內更固定。服務積壓為36億美元，而第一季度末為37億美元。服務業TCV同比增長1.4%。
Technology:
技術：
Second-quarter Technology revenue was $42.8 million, relative to $88.4 million in the prior-year period, down 51.6% year over year (down 49.7% in constant currency), largely driven by intra-year timing shifts of four ClearPath Forward contract renewals. Two of these were signed earlier than expected as noted in the first quarter, and two were delayed from the second quarter and are now expected to be signed in the third quarter. Second-quarter Technology gross profit margin was 42.0%, compared to 78.1% in the prior-year period. Technology operating profit margin was 2.2%, versus 56.7% in the prior-year period. Technology costs are largely related to software development and overhead and so are relatively fixed in the short term. As a result, margins in Technology were down more significantly than the declines in Services.
第二季度技術收入為4,280萬美元，較上年同期的8,840萬美元下降51.6%(按不變貨幣計算下降49.7%)，主要是由於四次ClearPath遠期合同續簽的年內時間變化所致。正如第一季度指出的那樣，其中兩份協議的簽署時間早於預期，兩份協議的簽署時間比第二季度推遲，目前預計將在第三季度簽署。第二季度技術毛利率為42.0%，而去年同期為78.1%。技術運營利潤率為2.2%，而去年同期為56.7%。技術成本在很大程度上與軟件開發和管理費用有關，因此在短期內相對固定。因此，技術領域的利潤率下降幅度大於服務領域的降幅。
Select Second-Quarter Contract Signings:
精選第二季度合同簽約量：
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August 04, 2020 16:01 ET (20:01 GMT)
2020年8月4日東部時間16：01(格林尼治標準時間20：01)
譯文內容由第三人軟體翻譯。