Unisys Corporation, the US-based IT specialist, has reported total revenue of $747m for the year, representing growth of 3.5% year-on-year.
The company also reveals operating cash flow of $203m, up $88m relative to $115m in prior-year quarter. Adjusted free cash flow was $204m, up $89m relative to $115mn in the prior-year quarter.
Unisys also reported accelerated contract signings for the year with Annual Contract Value (ACV) up 22% year on year and Total Contract Value (TCV) up 8 % year on year.
The company's pension deficit declined $390m to end 2017 at $1.78bn. Net loss for 2017 was $65m, versus a net loss of $48m in 2016.
Commenting on the latest numbers Unisys President and CEO Peter A. Altabef. Said: "Our 2017 results are strong and indicate that Unisys is on track with its strategic plan."
"We delivered on our goals for the year, exceeding or achieving guidance on all guidance metrics. These results represent the second consecutive year of achieving or exceeding full-year guidance since we re-established the process of issuing it two years ago."
Solid final quarter
"We had a solid fourth quarter, and signings and backlog entering 2018 are strong. We have begun the new year focused on ongoing execution of our go-to-market strategy and continued financial discipline."
It has been a tough few years for Unisys with a string of disappointing earning reports and continued pressure to reduce costs, deal with pension obligations, repay existing debt while at the same time invest in next-generation technology.
Despite pointing to positive contract signings, the company’s is still a long way from its goal of sustained profitability – posting a $65m loss for the year.