-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, U6hsJ27WgQW813pi1m3pXuZ5yNOoZPfi0Lt94V4jmoWHXDR779E0t6skfjK94qes Km/TH5rBFTTRpJrIBx5MTQ== 0000746838-95-000003.txt : 199506280000746838-95-000003.hdr.sgml : 19950628 ACCESSION NUMBER: 0000746838-95-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950627 ITEM INFORMATION: Other events FILED AS OF DATE: 19950627 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNISYS CORP CENTRAL INDEX KEY: 0000746838 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER & OFFICE EQUIPMENT [3570] IRS NUMBER: 380387840 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08729 FILM NUMBER: 95549472 BUSINESS ADDRESS: STREET 1: TOWNSHIP LINE & UNION MEETING RDS CITY: BLUE BELL STATE: PA ZIP: 19424 BUSINESS PHONE: 2159864011 MAIL ADDRESS: STREET 1: TOWNSHIP LINE & UNION MEETING ROADS CITY: BLUE BELL STATE: PA ZIP: 19424 FORMER COMPANY: FORMER CONFORMED NAME: BURROUGHS CORP /DE/ DATE OF NAME CHANGE: 19861204 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20594 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 27, 1995 - ------------------------------------------------------------------------------ UNISYS CORPORATION - ------------------------------------------------------------------------------ (Exact name of registrant as specified in charter) DELAWARE 1-8729 38-0387840 - ------------------------------------------------------------------------------ (State of (Commission File Number) (IRS Employer Incorporation) Identification No.) TOWNSHIP LINE AND UNION MEETING ROADS BLUE BELL, PENNSYLVANIA 19424 - ------------------------------------------------------------------------------ (Address of principal executive offices) (Zip Code) 215-986-4011 - ------------------------------------------------------------------------------ (Registrant's telephone number) Item 5. Other Events In May 1995, the Company completed the sale of its defense business to Loral Corporation. In accordance with APB Opinion Number 30 ("APB 30"), the Company's defense business has been treated as a discontinued operation. Pursuant to APB 30, the revenue, costs and expenses of the Company's defense business have been excluded from the respective captions in the Consolidated Statements of Income and the net results of these operations have been reported separately as "income from discontinued operations." Below are the Company's Condensed Consolidated Statements of Income for the three years ended December 31, 1994 presented in accordance with APB 30. 1994 (1) 1993 1992 -------- ---- ---- (in millions of dollars) Revenue $5,978.2 $5,980.8 $6,600.9 ------- ------- ------- Costs and Expenses Cost of revenue 3,815.4 3,402.8 3,880.9 Selling, general and administrative 1,544.8 1,516.3 1,640.9 Research and development 463.6 489.3 505.6 ------- ------- ------- 5,823.8 5,408.4 6,027.4 ------- ------- ------- Operating income 154.4 572.4 573.5 Interest expense 203.7 241.7 340.6 Other income, net 63.9 40.2 68.4 ------- ------- ------- Income from continuing operations before income taxes 14.6 370.9 301.3 Estimated income taxes 2.5 84.6 135.0 (2) ------- ------- ------- Income from continuing operations before extraordinary items and changes in accounting principles 12.1 286.3 166.3 Income from discontinued operations 96.1 75.3 129.9 Extraordinary items (7.7) (26.4) 65.0 Effect of changes in accounting principles 230.2 --------- -------- -------- Net income 100.5 565.4 361.2 Dividends on preferred shares 120.1 121.6 122.1 -------- -------- -------- Earnings (loss) on common shares $ (19.6) $ 443.8 $ 239.1 ======== ======== ======== Earnings (loss) per common share Primary Continuing operations $ (.63) $ 1.00 $ .27 Discontinued operations .56 .46 .79 Extraordinary items (.04) (.16) .40 Effect of changes in accounting 1.39 principles -------- -------- -------- Total $ (.11) $ 2.69 $ 1.46 ======== ======== ======== Fully diluted Continuing operations $ (.63) $ 1.17 $ .33 Discontinued operations .56 .31 .71 Extraordinary items (.04) (.11) .36 Effect of changes in accounting .94 principles -------- -------- -------- Total $ (.11) $ 2.31 $ 1.40 ======== ======== ======== (1) Includes a special charge of $186.2 million, or $.78 per fully diluted common share. (2) Estimated income taxes for 1992 primarily consists of foreign income taxes. The following are condensed consolidated statements of income of the Company's defense business for the three years ended December 31, 1994. 1994 1993 1992 ---- ---- ---- (in millions of dollars) Revenue $1,421.5 $1,761.7 $1,821.0 -------- -------- -------- Costs and Expenses Cost of revenue 1,125.6 1,441.5 1,503.6 Selling, general and administrative 124.5 132.6 139.9 Research and development 19.8 25.9 30.3 -------- -------- -------- 1,269.9 1,600.0 1,673.8 -------- -------- -------- Operating income 151.6 161.7 147.2 Other income, net (13.0) (29.2) (12.9) -------- -------- -------- Income before income taxes 138.6 132.5 134.3 Estimated income taxes 42.5 57.2 4.4 * -------- -------- -------- Net income $ 96.1 $ 75.3 $ 129.9 ======== ======== ======== * Due to the Unisys U.S. tax position in 1992 whereby virtually no U.S. income tax was provided based on income, the only tax shown for the defense business is the tax on Canadian operations. SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. UNISYS CORPORATION Date: June 27, 1995 By: /s/Deborah C. Hopkins ------------------------ Deborah C. Hopkins Vice President and Corporate Controller -----END PRIVACY-ENHANCED MESSAGE-----