Welcome to our dedicated page for Unisys news (Ticker: UIS), a resource for investors and traders seeking the latest updates and insights on Unisys stock.
Unisys Corporation reports developments across cloud, AI, digital workplace, applications and enterprise computing services for government, financial services and commercial clients. Recurring updates include quarterly results, new business signings, profitability trends, investor conferences and product activity within the ClearPath Forward ecosystem.
Company news also covers client and partner activity tied to Unisys technology platforms, including Cargo Portal Services for air cargo booking, digital workplace field services, global service desk operations, core banking and anti-money laundering capabilities, and research involving quantum computing applications for cybersecurity.
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Unisys Corporation (NYSE: UIS) has been recognized as a leader in managed security services in Australia by Information Services Group (ISG). This designation is attributed to its strengths in zero trust, micro-segmentation, and identity management. The ISG Provider Lens report highlighted Unisys as one of only seven leaders among 58 providers, emphasizing its capability to adapt to a rapidly evolving cybersecurity landscape. Unisys offers strong protections against threats, leveraging its proprietary technologies for effective enterprise security.
Unisys Corporation (NYSE: UIS) announced the release of Stealth 6.0, enhancing IT security management through improved visualization and dashboard tools. The update includes AI-driven automation for quick installation and configuration, and supports various environments including public, private, and multi-cloud platforms. With features like automated enterprise security and a comprehensive real-time dashboard, Stealth 6.0 aims to streamline security processes and reduce complexity amidst rising remote work demands. This solution is designed to meet compliance standards while lowering operational costs.
Unisys Corporation (NYSE: UIS) announced new cloud contracts with public sector clients, awarded in Q3 2020. The contracts include a five-year agreement with North Dakota's Job Service for unemployment insurance support, utilizing ClearPath® MCP Software Series for Azure and CloudForte® consulting services. Additionally, the European Fisheries Control Agency engaged Unisys for a Cloud and IT Architecture assessment, while an Australian state government agency expanded its cloud services. Unisys aims to help clients enhance service delivery and manage financial strains amid the COVID-19 pandemic.
Unisys Corporation (NYSE: UIS) has successfully closed a private offering of $485 million in 6.875% Senior Secured Notes due 2027. The proceeds will primarily address its underfunded U.S. pension liability. The notes are secured by liens on most of Unisys's assets and will be guaranteed by its domestic subsidiaries. Additionally, Unisys has amended its revolving credit facility to increase borrowing capacity to $175 million and extend maturity to October 2025. This financial strategy aims to enhance liquidity and manage liabilities effectively.
Unisys Corporation reported Q3 2020 revenue of $495.2 million, up 12.9% sequentially but down 10.3% year-over-year. The operating profit margin improved 750 bps sequentially to 5.6%, while non-GAAP operating profit margin rose 830 bps to 8.5%. Operating cash flow increased by $80.5 million sequentially to $66.3 million, and free cash flow reached $34.3 million, a growth of $83.9 million sequentially. The company expects to significantly reduce future pension contributions, with a potential deficit reduction of $478 million.
Unisys Corporation (NYSE: UIS) has priced $485 million in Senior Secured Notes due 2027, set to close on October 29, 2020. Proceeds will address its underfunded U.S. pension liability. The notes carry an interest rate of 6.875%, with payments starting on May 1, 2021. Guaranteed by major domestic subsidiaries, these notes are secured by substantially all of Unisys's assets. They are being offered privately under Rule 144A and Regulation S, and not registered under the Securities Act.
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Unisys Corporation (NYSE: UIS) announced a proposed private offering of $400 million in Senior Secured Notes due 2028. The offering will be available under Rule 144A and Regulation S, aimed at qualified institutional buyers. Net proceeds from this offering will be used to address Unisys's underfunded U.S. pension liability. The notes will be secured by liens on nearly all assets of Unisys and its domestic subsidiaries. This move highlights Unisys's commitment to enhancing its financial position while addressing pension obligations.
Unisys Corporation (NYSE: UIS) will release its third-quarter 2020 financial results on October 27, 2020, before the market opens. The company will follow this with a conference call aimed at the financial community from 8:00 to 9:00 a.m. Eastern Time. Investors can listen to the event via a live Webcast on the Unisys Investor Website, with a replay available thereafter.
Unisys is a global IT services firm that integrates security within its offerings, which include cloud services and digital workplace solutions for various sectors.