Any forward-looking statements made by us in this release speak only as of the date on which they are made. McKinsey Digital, Global Survey, May 2019, Omnichannel Success Starts with Intelligent Orchestration, Street Reach Indy Project wins 2020 IPMI Marketing Award. you just have to provide the internet. The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/ . New business sales were strong, with Total Contract Value signed in the quarter increasing by more than 30 percent year-over-year, representing our highest-ever Q1 performance. In order to provide a meaningful basis for comparison, we are providing information with respect to our Free Cash Flow reconciled to cash flow provided by operating activities, which we believe to be the most directly comparable measure under U.S. GAAP. Net income was $136M up significantly versus prior year period, reflecting the gain on sale of the Midas divestiture and insurance recoveries relating to a previously disclosed legal matter. Management will present the results during a conference call and webcast on May3, 2022 at 5:00 p.m. Adjusted EBITDA is not intended to represent cash flows from operations, operating income (loss) or net income (loss) as defined by U.S. GAAP as indicators of operating performance. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) ( 1). The tax effect of the non-GAAP adjustments was calculated based upon evaluation of the statutory tax treatment and the applicable statutory tax rate in the jurisdictions in which such charges were incurred. The replay ID is 13725756. This metric excludes COVID-related volume impacts and non-recurring revenue signings. We also internally use these measures to assess our operating performance, both absolutely and in comparison to other companies, and in evaluating or making selected compensation decisions. I' was born in Nuernberg . Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. 313 0 obj <>/Filter/FlateDecode/ID[<28E402DF5CB4D847AC696F8DC6F3621F>]/Index[294 28]/Info 293 0 R/Length 98/Prev 118551/Root 295 0 R/Size 322/Type/XRef/W[1 3 1]>>stream Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. I'd like to thank our dedicated team for their continued strong execution in 2021., Key Financial Q4 & Full Year 2021 Results. C ommunity Huddle Find information on events and updates that are happening this month.. Rose/Tower Barracks meetings are conducted on the fourth Wednesday of the month.. Hohenfels meetings are conducted every quarter.. Garmisch-Partenkirchen Town Hall.. CONDUENT INCORPORATED Join our Talent Network and get Conduent news and job alerts delivered to your inbox. 4. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. 0 Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions, and providing such non-GAAP financial measures to investors allows for a further level of transparency as to how management reviews and evaluates our business results and trends. Restructuring and related costs include restructuring and asset impairment charges as well as costs associated with our strategic transformation program. In accordance with the provisions of the Litigation Reform Act, we are making investors aware that such forward-looking statements, because they relate to future events, are by their very nature subject to many important factors and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make. These statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. These are sites and strategies that will yield the user minimum wage or better and allow them to provide for themselves. Conference Call Refer to the "Non-GAAP Financial Measures" section attached to this release for a discussion of these non-GAAP measures and their reconciliation to the reported U.S. GAAP measures. When I got on the train to Nuernberg, I . Non-GAAP Reconciliations: Revenue at Constant Currency, Adjusted Net Income (Loss), Adjusted Effective Tax, Adjusted Operating Income (Loss) and Adjusted EBITDA were as follows: (1) Included in Depreciation and amortization on the Consolidated Statements of Income (Loss). Amortization of acquired intangible assets. Communication about all available wellness resources is crucial now, as well as ensuring that employees are aware of Employee Assistance Program offerings. When you join Conduent, you are engaged in creating the future - both our company's and your own. These reconciliations also include the income tax effects for our non-GAAP performance measures in total, to the extent applicable. Accordingly, we believe it is necessary to adjust several reported amounts, determined in accordance with U.S. GAAP, to exclude the effects of certain items as well as their related tax effects. We make adjustments to Net Income (Loss) before Income Taxes for the following items, as applicable, to the particular financial measure, for the purpose of calculating Adjusted Revenue, Adjusted Net Income (Loss), Adjusted Diluted Earnings per Share, Adjusted Weighted Average Common Shares Outstanding, and Adjusted Effective Tax Rate: The Company provides adjusted net income and adjusted EPS financial measures to assist our investors in evaluating our ongoing operating performance for the current reporting period and, where provided, over different reporting periods, by adjusting for certain items which may be recurring or non-recurring and which in our view do not necessarily reflect ongoing performance. Integrate new workplace policies Centers for Disease Control and Prevention, COVID-19 Pandemic Planning Scenarios, July 2020 Centers for Disease Control and Prevention, COVID-19 Pandemic Planning Scenarios, July 2020, 5. A place to talk about making an income online. 1. In addition, we have discussed our financial results using non-GAAP measures. %%EOF We have provided an outlook for revenue on a constant currency basis due to the inability to accurately predict foreign currency impact on revenues. However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, the Companys reported results prepared in accordance with U.S. GAAP. Tax effects were immaterial. Once the store . The international conference ID is also 13725756. Accordingly, we believe it is necessary to adjust several reported amounts, determined in accordance with U.S. GAAP, to exclude the effects of certain items as well as their related tax effects. Land, buildings and equipment, net : 272 : 281 : Operating lease right-of-use assets : 219 : 231 : Intangible assets, net : 46 : 52 . Step up communications with employees including reminders about immunizations, safe workplace practices, and other prevention education. Downvote 2. ". Monitoring virus infection rates and geographic trends is critical right now, as well as understanding the impact of federal, state and local regulations. FLORHAM PARK, N.J., May 03, 2022 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its first quarter 2022 financial results. Our people are united in their passion to make a positive difference - within their teams, communities, and society at large. Free Cash Flow and Adjusted Free Cash Flow Reconciliation: Thank you. Interest expense includes interest on long-term debt and amortization of debt issuance costs. Our actual results may vary materially from those expressed or implied in our forward-looking statements. Our people are united in their passion to make a positive difference within their teams, communities, and society at large. endobj Both Government and Transportation revenues grew in 2021 versus prior year, with Commercial revenue trends continuing to improve in 2021. This includes charges in connection with the abandonment of a cloud computing project. Timing of revenue impact varies and may not be realized within the forward 12-month timeframe. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied herein as anticipated, believed, estimated, expected or intended or using other similar expressions. We tried calling him (37 times) and he won't answer his phone and his voicemail isnt set up. equipment in a safe manner, and that the items/services furnished will be (i) in full compliance with Buyer's . Payment of any We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. Any forward-looking statements made by us in this release speak only as of the date on which they are made. <>>> Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions, and providing such non-GAAP financial measures to investors allows for a further level of transparency as to how management reviews and evaluates our business results and trends. A recording of the conference call will be available by calling 1-877-660-6853 one hour after the conference call concludes. 4y. The amortization of acquired intangible assets is driven by acquisition activity, which can vary in size, nature and timing as compared to other companies within our industry and from period to period. Divestitures. 1 0 obj We use Adjusted EBITDA and Adjusted EBITDA Margin as an additional way of assessing certain aspects of our operations that, when viewed with the U.S. GAAP results and the accompanying reconciliations to corresponding U.S. GAAP financial measures, provide a more complete understanding of our on-going business. Conduent Announces Fourth Quarter and Full Year 2021 Financial Results, Conduent to Host Virtual Investor Briefing on March 30, 2023, Conduent Reports Fourth Quarter and Full Year 2022 Financial Results, Conduent to Report Fourth-Quarter and Full-Year 2022 Financial Results on February 14, 2023, GAAP net income (loss) from Continuing Operations, GAAP Diluted EPS from Continuing Operations, Adjusted Diluted EPS from Continuing Operations, Cost of services (excluding depreciation and amortization), Selling, general and administrative (excluding depreciation and amortization), Research and development (excluding depreciation and amortization), Loss on divestitures and transaction costs, Shares of common stock issued and outstanding, Shares of series A convertible preferred stock issued and outstanding. If requested, the conference ID for this call is 13728764. Litigation settlements (recoveries), net. Conduent can help. A recording of the conference call will be available by calling 1-877-660-6853 one hour after the conference call concludes. (3) The tax impact of Adjusted Pre-tax income (loss) from continuing operations was calculated under the same accounting principles applied to the 'As Reported' pre-tax income (loss), which employs an annual effective tax rate method to the results and without regard to the adjustments listed. Start typing a location to get suggestions, then press the down arrow to select one. In 2021, Conduent Transportation identified an opportunity to help address violence against women, girls, and vulnerable people by expanding the Ask for Angela campaign beyond the hospitality industry, The month of December is a busy month, filled with holidays and celebrations, many of which include gift-giving and good food -- lots and lots of good food! He got the equipment, but now wants to send it back. The replay ID is 13728764. Revenue and Adjusted Revenue were lower than prior year period, primarily driven by significant non-recurring stimulus payments volume in our Government Services business in the prior year. In order to provide a meaningful basis for comparison, we are providing information with respect to our Free Cash Flow reconciled to cash flow provided by operating activities, which we believe to be the most directly comparable measure under U.S. GAAP. Answered October 25, 2017. Conference Call This metric is not indicative of any specific 12 month timeframe. (2) Refer to Appendix for definition. Conduent will not request money or your banking or credit card information Related Links Timing of revenue impact varies and may not be realized within the forward 12-month timeframe. but never sends them. Additional 2021 Performance Highlights CONDUENT INCORPORATED Amortization of acquired intangible assets. The noted income tax effect for our non-GAAP performance measures is effectively the difference in income taxes for reported and adjusted pre-tax income calculated under the annual effective tax rate method. In addition, all statements regarding the anticipated effects of the novel coronavirus, or COVID-19, pandemic and the responses thereto, including the pandemics impact on general economic and market conditions, as well as on our business, customers, and markets, results of operations and financial condition and anticipated actions to be taken by management to sustain our business during the economic uncertainty caused by the pandemic and related governmental and business actions, as well as other statements that are not strictly historical in nature, are forward looking. CONDUENT INCORPORATED This currency impact is calculated by translating the current period activity in local currency using the comparable prior-year period's currency translation rate. Cliff Skelton, Conduent President and CEO stated, In 2021, we met or exceeded our commitments. Together, we make a difference in the lives of millions every day. The metric annualizes the net impact to revenue. This release and any attachments to this release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. We have reported our financial results in accordance with U.S. generally accepted accounting principles (U.S. GAAP). The noted income tax effect for our non-GAAP performance measures is effectively the difference in income taxes for reported and adjusted pre-tax income calculated under the annual effective tax rate method. Implemented as a standalone or integrated component of ATLAS, this highly configurable system is compatible with all mobile phone . McKinsey, Executive Survey, June 2020 Together, we make a difference in the lives of millions every day. The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/. Children are the heart of the celebrations. You must have a hard internet connection (no wifi). Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. To return the POS equipment, call the retailer help desk at 1-877-436-6057 and speak to a customer service representative (press options 1, 4, 1, and 4). We have reported our financial results in accordance with U.S. generally accepted accounting principles (U.S. GAAP). For the same reason, we are unable to provide GAAP expected adjusted tax rate, which adjusts for our non-GAAP adjustments. Adjusted Revenue, Adjusted Operating Income and Adjusted Operating Margin. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable U.S. GAAP measures and should be read only in conjunction with our Consolidated Financial Statements prepared in accordance with U.S. GAAP. (1) All amounts are net of tax. (Gain) loss on divestitures and transaction costs. This release and any attachments to this release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Learn more about interviews at Conduent Answered November 13, 2017 - Customer Service Representative (Former Employee) - Fresno, CA It is usually a 3 week process, by the time you get a call back, get the interview, get a call back then and then take the drug test and the background check. Significant TCV wins in the Transportation segment made this one of the strongest starts to the year for new business signings. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. This includes charges in connection with the abandonment of a cloud computing project. Conduent's solutions deliver exceptional outcomes for its clients including approximately $10 billion of annual processed tolling transactions, $18 billion of total bill reductions from medical bill review of workers compensation claims, up to 40% efficiency increase in HR operations, up to 27% reduction in government benefits costs, up to 40% hbbd```b``"W8|,.fH0)&+``v "9M"+R$@YL[A@y c7 Answered July 30, 2018 - Program Director (Current Employee) - Naperville, IL. (3) Normalized for the impact of payment of deferred payroll taxes primarily related to the CARES Act of $32M in 2021 and $27M in 2022, Adjusted Free Cash Flow as a percentage of Adjusted EBITDA for 2021 is approximately 25% and approximately 22% in 2022.
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