Unisys Corporation ( UIS ) recently announced that the company has launched a new set of services which will supposedly help organizations in executing tasks more efficiently.
These tasks help reduce the cost, complexity, risk and time involved in implementing a complex mission-critical application modernization initiative.
Unisys added that these new services are known as Application Modernization Platform as a Service ( AMPS ) COE (Center of Excellence) are designed to help clients maximize return on investment from their modernization initiatives and realize the full benefits of a service-oriented architecture ( SOA ).
AMPS COE complements the company's subscription-based Application Modernization Platform as a Service ( AMPS ) SOA.
Unisys AMPS SOA Core offering was launched in 2011 for the U.S. federal market. This offering is now available to commercial and public sector organizations on a worldwide basis. Organizations undertaking the company's AMPS COE services and AMPS SOA Core offering can realize measurable benefits in about 12 to 18 months.
Earlier, Unisys announced that announced that its U.K. subsidiary has been selected by the U.K. agreement to deliver Specialist Cloud Services as part of the government's new G-Cloud framework.
The G-Cloud framework is part of the U.K. government's program to transform its services with the aim of achieving cross government economies of scale, delivering flexible and responsive IT systems to support government policies and strategies. In addition, the government also plans to take advantage of new technologies, meet environmental targets along with creating a dynamic procurement process and supplier marketplace.
Earlier, Unisys reported revenues of $985 million in the fourth quarter, down 6% year over year. Foreign currency fluctuations did not have much of an impact on revenue in the quarter.
About half of the decline was due to lower revenue in the company's U.S. Federal business and the remainder was primarily due to lower third-party equipment sales in the rest of the business.
Net income came in at $94.3 million or $1.94 per share compared to a net income of $78.6 million or $1.63 per share in the third quarter and a net income of $95.2 million or $2.20 in the year-ago quarter. The results beat the Zacks Consensus Estimate of $1.50.
We continue to maintain an Outperform recommendation on Unisys. In the short-run, the company has a Zacks #3 Rank, which translates into a short-term rating of Hold.