Unisys Corp. on Wednesday reported that second-quarter 2019 revenue grew 12.9% year over year to $753.8 million, and shares rose more than 17% on the news.
The software and services firm last year reported second-quarter revenues of $667.4 million.
“Our focus on security has resulted in numerous large contract signings in recent years, including notable wins in our U.S. federal sector,” Unisys CEO Peter Altabef told analysts.
Unisys cited several new contracts signed in the second quarter, including a contract to provide support to a U.S. defense agency to maintain shared mission-critical IT services for select Department of Defense agencies and organizations throughout the government.
Unisys also signed a contract to design, build and manage new secure cloud infrastructure for Australia’s Bureau of Meteorology, a new client for the Blue Bell company.
“Security continues to be a critical element in our strategy,” Altabef said. “Security for Unisys does not just mean our stand-alone solutions such as Stealth or TrustCheck. Rather, security is an inherent part of much of the work we do across the company, including in our border security work and in services like identification processing for countries around the world.”
Net income for the second quarter of 2019, which ended June 30, was $26.2 million, up $22.4 million versus $3.8 million in the prior-year period. Diluted earnings per share was up six-fold to $0.42, compared with $0.07 in the prior-year period.
EBITDA, or earnings before interest, taxes, depreciation and amortization, rose 29.8% in the second quarter to $128.5 million, versus $99.0 million in the prior-year period. Net income margin was up 290 basis points year over year to 3.5%, compared to 0.6% in the prior-year period.
Shares ended the trading day at $12.39, up $1.86.