Company: UIS
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021581
Chunk: 2

Company: UNISYS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 2
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2024, respectively. The decrease was primarily driven by the timing of software license renewals.

Ex-L&S gross profit and gross profit margin for the three months ended March 31, 2025 were $64.2 million and 17.8%, respectively, compared with $71.2 million and 18.0% for the three months ended March 31, 2024, respectively. 

Selling, general and administrative expense in the three months ended March 31, 2025 was $96.8 million (22.4% of revenue) compared with $112.2 million (23.0% of revenue) for the three months ended March 31, 2024. The decrease was primarily driven by lower professional services and lower cost reduction and other expenses.

Research and development expense for the three months ended March 31, 2025 and 2024 was $5.6 million and $6.1 million, respectively. 

For the three months ended March 31, 2025, the company reported an operating profit of $5.1 million compared with an operating profit of $17.7 million in the three months ended March 31, 2024. The decrease was primarily driven by the timing of software license renewals as discussed above.

Interest expense for the three months ended March 31, 2025 and 2024 was $8.2 million and $7.9 million, respectively. 

Other (expense), net was expense of $16.9 million for the three months ended March 31, 2025 compared with expense of $142.1 million for the three months ended March 31, 2024. Other (expense), net for the three months ended March 31, 2024 included a U.S. pension plan settlement loss of $132.3 million. See Note 5 of the Notes to Consolidated Financial Statements for details of other (expense), net.

The loss before income taxes for the three months ended March 31, 2025 was $20.0 million compared with loss of $132.3 million for the three months ended March 31, 2024. The loss for the three months ended March 31, 2024 included a U.S. pension settlement loss of $132.3 million.

The provision for income taxes was $10.6 million for the three months ended March 31, 2025 compared with a provision of $17.0 million for the three months ended March