REG-Unisys Corp: Unisys Announces Third-Quarter 2017 Financial Results <Origin Href="QuoteRef">UIS.N</Origin> - Part 2

UnisysAnnouncement

31/10/2017 07:00

- Part 2: For the preceding part double click  ID:nPRrVEF4Aa 

                                                                                        
                                                                                                                                                                                                   
                                                                                     FREE CASH FLOW                                                                                                
                                                                                                                                                                                                   
                                                                                                      Three Months                                               Nine Months                       
                                                                                                   Ended September 30,                                       Ended September 30,                   
                                                                                              2017                2016                                    2017                    2016             
 Cash (used for) provided by operations                                                       $ 53.9                  $ 46.1 *                              $ (36.3)             $ 103.0 *         
 Additions to marketable software                                                             (17.8)                  (16.9)                                  (46.6)              (47.1)           
 Additions to properties                                                                       (5.9)                   (7.3)                                  (21.8)              (18.3)           
 Additions to outsourcing assets                                                              (23.2)                  (12.6)                                  (60.1)              (41.4)           
 Free cash flow                                                                                  7.0                     9.3 *                               (164.8)               (3.8) *         
 Pension funding                                                                                39.6                    39.9                                   110.8               104.0           
 Cost reduction and other payments                                                              20.2                    23.1                                    49.0                62.3           
 Adjusted free cash flow                                                                      $ 66.8                  $ 72.3 *                               $ (5.0)             $ 162.5 *         
                                                                                                                                                                                                   
 * Certain amounts have been reclassified to conform to the current-year presentation.                                                                                                             
                                                                                        UNISYS CORPORATION                                                                                         
                                                                                RECONCILIATION OF GAAP TO NON-GAAP                                                                                 
                                                                                            (Unaudited)                                                                                            
                                                                                            (Millions)                                                                                             
                                                                                                                                                                                                   
                                                                                              EBITDA                                                                                               
                                                                                                                                                                                                   
                                                                                                                          Three Months                                        Nine Months          
                                                                                                                       Ended September 30,                                Ended September 30,      
                                                                                                          2017                                2016                      2017               2016    
 Net loss attributable to Unisys Corporation common shareholders                                            $ (41.1)                                $ (28.2)          $ (115.8)           $ (46.5) 
 Net income (loss) attributable to noncontrolling interests                                                   (11.8)                                     3.1              (5.3)                8.2 
 Interest expense, net of interest income of $2.5, $2.9, $7.2, $8.5, respectively*                              13.9                                     4.8               29.2               11.4 
 Provision for income taxes                                                                                     12.5                                     9.9               21.6               34.2 
 Depreciation                                                                                                   22.8                                    23.3               68.9               68.3 
 Amortization                                                                                                   15.3                                    15.6               47.1               48.0 
 EBITDA                                                                                                       $ 11.6                                  $ 28.5             $ 45.7            $ 123.6 
                                                                                                                                                                                                   
 Pension expense                                                                                                23.6                                    21.2               69.4               63.0 
 Cost reduction and other expense***                                                                            45.8                                    34.6              100.2               71.7 
 Non-cash share based expense                                                                                    2.4                                     2.4                8.6                7.7 
 Other (income) expense adjustment**                                                                             5.2                                     0.6               14.9                4.8 
 Adjusted EBITDA                                                                                              $ 88.6                                  $ 87.3            $ 238.8            $ 270.8 
                                                                                                                                                                                                   
 * Included in Other (income) expense, net on the Consolidated Statements of Income                                                                                                                
 ** Other (income) expense, net as reported on the Consolidated Statements of Income less Interest income and items included in cost reduction and other expense                                   
 *** Reduced for Depreciation and Amortization included above                                                                                                                                      
                                                                                                                                                                                                   

CONTACT: Investors: Courtney Holben, Unisys, 215-986-3379,
courtney.holben@unisys.com;
Media: John Clendening, Unisys, 214-403-1981, john.clendening@unisys.com



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