Company: UIS
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021581
Chunk: 1

Company: UNISYS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 1
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 31, 2024, a decrease of 10.6%. Foreign currency had a 5 percentage-point negative impact on international revenue in the current period compared with the prior-year period. Revenue from U.S. operations for the three months ended March 31, 2025 was $185.9 million compared with $212.3 million for the three months ended March 31, 2024, a decrease of 12.4%.

During the three months ended March 31, 2025, the company recognized a net cost-reduction credit of $1.2 million. The net credit related to workforce reductions was $0.3 million and was comprised of: (i) a credit of $1.4 million for changes in estimates and (ii) a charge of $1.1 million for severance costs. The company recorded a net credit of $0.9 million comprised of a credit of $1.1 million for net foreign currency gains related to exiting foreign countries and a charge of $0.2 million for other expenses related to cost reduction efforts.

During the three months ended March 31, 2024, the company recognized net cost-reduction charges and other costs of $6.3 million. The net charges related to workforce reductions were $6.6 million, principally related to severance costs, and were comprised of: (i) a charge of $9.4 million and (ii) a credit of $2.8 million for changes in estimates. The company recorded a net credit of $0.3 million comprised of a net credit of $0.8 million for changes in estimates related to other cost-reduction efforts and a charge of $0.5 million for net foreign currency losses related to exiting foreign countries.

The charges (credits) were recorded in the following statement of income (loss) classifications:

Three Months Ended March 31,(In millions)20252024Cost of revenue$(0.5)$1.0 Selling, general and administrative0.5 3.8 Research and development(0.1)1.0 Other (expense), net(1.1)0.5 Total$(1.2)$6.3 

22

Gross profit and gross profit margin were $107.5 million and 24.9% in the three months ended March 31, 2025, respectively, compared with $136.0 million and 27.9% for the three months ended March 31,