Second Quarter 2016

Business Highlights

  • Disciplined cost reductions have resulted in significantly improved profitability and cash flow.​
    • Operating profit margin of 6.6%, an increase of 1310 basis points vs. 2Q15; non-GAAP operating profit margin of 10.8%, an increase of 690 basis points vs. 2Q15.
    • Cash flow increase of $55.7M YoY to $34.6M; $78.7M increase in non-GAAP adjusted free cash flow YoY to $54.3M.
  • Revenue declined 2% YoY or less than 1% on a constant currency basis.
  • Strong revenue growth in Technology segment, with revenue up 31% YoY, driven by strong ClearPath Forward sales.
    • Technology operating profit margin improved to 48.0% from 15.6% in 2Q15.
  • Services revenue declined 7% YoY, or 6% in constant currency. 
    • ​Services operating margin was 2.1%.​


2Q16 Revenue Profile ($M)

2Q16 Profile  


1H16 Revenue Profile ($M)

2Q16 Profile