LONDON (ShareCast) - (Sharecast News) - Unisys Corporation reported its first-quarter financial results on Friday, raising its full-year guidance for non-GAAP adjusted revenue and reaffirmed its full-year guidance for its non-GAAP operating profit margin and adjusted EBITDA margin.
The US-based information technology company said services revenue grew 7.7% year-on-year, or 11.7% on a constant-currency basis.

Services non-GAAP adjusted revenue was ahead 7.3% year-on-year, which was the highest quarterly rate since 2003.

Total first quarter revenue slipped to $695.8m from $708.4m a year ago, with the board putting that down to an additional $53m of revenue recorded upon the adoption of ASC 606 in the first quarter of 2018.

That revenue figure was ahead 2.3% on a constant-currency basis, with total non-GAAP adjusted revenue rising 5.9% year-on-year, which was the highest quarterly rate since 2014.

Unisys said its services backlog was stable at $4.7bn.

The firm raised its full-year guidance for non-GAAP adjusted revenue from annual growth of between 1% and 4% to growth of between 2 and 5%, and reaffirmed its guidance for non-GAAP operating profit margin and adjusted EBITDA margin.

"We are excited to see top-line momentum continue, with another quarter of non-GAAP adjusted revenue growth, including the highest quarterly growth we have seen in services since 2003," said Unisys chairman and chief executive officer Peter Altabef.

"We are maintaining our client-centric focus and delivering transformative, secure solutions, and we were pleased to see continued traction with our strategy in the first quarter."

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