(4) Refer to Appendix for definition of Non-GAAP Outlook. 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. Litigation settlements (recoveries), net represents settlements or recoveries for various matters subject to litigation. Learn more at www.conduent.com. We have added certain adjustments to account for items which we do not believe reflect our core business or operating performance, and we computed all periods with such adjusted costs. We use the non-GAAP measure of Free Cash Flow as a criterion of liquidity. The telephone recording will be available until March 2, 2022. The income tax effects are calculated under the same accounting principles as applied to our reported pre-tax performance measures under ASC 740, which employs an annual effective tax rate method. Monitoring virus infection rates and geographic trends is critical right now, as well as understanding the impact of federal, state and local regulations. It provides travelers and transport operators with a new level of mobility. An email has been sent to you with instructions to set up your email alert. 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. Pre-tax income was $5M versus $19M in the prior year period. (1) Includes $5 million and $10 million restricted cash as of March 31, 2022 and 2021, respectively, that were included in Other current assets on their respective Condensed Consolidated Balance Sheets. We make adjustments to Revenue, Costs and Expenses and Operating Margin, as applicable, for the following items, for the purpose of calculating Adjusted Revenue, Adjusted Operating Income and Adjusted Operating Margin: We provide our investors with adjusted revenue, adjusted operating income and adjusted operating margin information, as supplemental information, because we believe it offers added insight, by itself and for comparability between periods, by adjusting for certain non-cash items as well as certain other identified items which we do not believe are indicative of our ongoing business, and may also provide added insight on trends in our ongoing business. 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. 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. hbbd```b``+@$7dHFMLnHq0,{LV9$cD .&O "DX About Conduent Conduent delivers mission-critical services and solutions on behalf of businesses and governments - creating exceptional outcomes for its clients and the millions of people who count on them. At the recent Customer Contact Week (CCW) conference in Nashville, we sat down with a team of CX experts - during the How to Enable the Human Side of Digital session. My experience with Rent a bike Nuernberg was excellent from start to finish. Adjusted Net Income (Loss), Adjusted Diluted Earnings per Share, Adjusted Weighted Average Common Shares Outstanding, and Adjusted Effective Tax Rate. The replay ID is 13728764. 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. <> Our actual results may vary materially from those expressed or implied in our forward-looking statements. Conduent GSP February 2021 . Goodwill impairment. 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 are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. 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% 1. Net ARR Activity Metric ( 2) (TTM): Q4 $128M. The conference call will also be available by calling 1-877-407-4019 toll-free. However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, our reported results prepared in accordance with U.S. GAAP. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED). WIC authorized retailers using the Conduent's Stand-Beside Point of Sale (POS) equipment to process . Lenovo 3-5 years old. 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. 4. The metric annualizes the net impact to revenue. Hourly pay at Conduent Inc. ranges from an average of $12.33 to $25.11 an hour. Now is the time to develop iterative, flexible strategies that can adapt with workplace challenges and health and government mandates as the COVID-19 pandemic runs it course and with the upcoming flu season on the horizon. 2 0 obj It is why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward. 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. Our client satisfaction ratings have increased for the third consecutive year, contributing to new client wins and better retention which in turn, resulted in the Net ARR Activity metric being positive for the fifth consecutive quarter. 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. Thank you for your interest in Conduent. FLORHAM PARK, N.J., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its fourth quarter and full year 2021 financial results. 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. Conduent Seamless Transportation System is a universal system for secure, ticketless public transport and service payments by smartphone. Upvote 4 Downvote 2 (4) Refer to Appendix for Non-GAAP Outlook. We continue to be strongly positioned as a partner of choice to provide thesecriticalservices andsolutions.. The metric is for indicative purposes only. 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. Adjusted EBITDA of $107M and Adjusted EBITDA Margin of 11.1% benefited from a one-time recovery of $14M in defense costs as a portion of the settlement with insurance carriers relating to a previously disclosed legal matter. The Pros and Cons of Working From Home Working from home can be an appealing career move. Conduent will not ask you purchase equipment to start working. hb```%,@( <> (1) All amounts are net of tax. 154 questions about Hiring Process at Conduent. The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/. These reconciliations also include the income tax effects for our non-GAAP performance measures in total, to the extent applicable. We focused on execution, efficiency, driving improved client and end-user experiences and received recognition for our culture, technology-enabled solutions and overall delivery excellence. To better understand trends in our business, we believe that it is helpful to adjust revenue to exclude the impact of changes in the translation of foreign currencies into U.S. endstream endobj 224 0 obj <. 1. Once the store . McKinsey Digital, Global Survey, May 2019, Legal, Compliance, and Analytics Solutions, Return to Work 2020: 6 Imperatives for HR Managers. The words anticipate, believe, estimate, expect, "plan," intend, will, aim, should, could, forecast, target, may, "continue to," "if, growing, projected, potential, likely, and similar expressions, as they relate to us, are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. With respect to 2022 and beyond, we look forward to outrunning the one-time government stimulus volumes that benefited 2021, and demonstrating growth. 7 months ago Mindshift: Preparing the New, Truly Hybrid, Salesforce Gain insights into how organizations must re-examine the way they train and educate sales reps in the article, "Mindshift: Preparing the New, Truly Hybrid, Salesforce," by Conduent's Gwen Phinizy Start date is a month from now. 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. I emailed about a week before my visit to check availability of the type and size bike I wanted, and received a confirmation a few hours later. He got the equipment, but now wants to send it back. The metric is for indicative purposes only. Q4 2021 contributed $310M in new business TCV signings and $111M in new business ARR. 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. Our people are united in their passion to make a positive difference within their teams, communities, and society at large. The international conference ID is also 13728764. Restructuring and related costs. We have reported our financial results in accordance with U.S. generally accepted accounting principles (U.S. GAAP). Despite widespread expert agreement that a vaccine will be critical to the nation's return to normalcy, only 57% of Americans say they would get a COVID-19 vaccine if it were available today.2. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED), CONDUENT INCORPORATED These are sites and strategies that will yield the user minimum wage or better and allow them to provide for themselves. The Official website of U.S. Army Garrison Bavaria. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. Additional 2021 Performance Highlights Other charges (credits). Consumers are driving a revolution in digital payments and industries are challenged to meet customer expectations or lose their business. We have provided an outlook for revenue on a constant currency basis due to the inability to accurately predict foreign currency impact on revenues. This years Earth Day theme is Invest in Our Planet, which serves as a reminder that, like most of the important things we rely on, we should not take our planets resources for granted. 4y. Amortization of acquired intangible assets. Some day I want to return. The international dial-in is 1-201-689-8337. We are providing such outlook only on a non-GAAP basis because the Company is unable to predict with reasonable certainty the totality or ultimate outcome or occurrence of these adjustments for the forward-looking period, which can be dependent on future events that may not be reliably predicted. Non-GAAP Reconciliations: Adjusted Weighted Average Shares Outstanding, Adjusted Diluted EPS, Adjusted Effective Tax Rate, Adjusted Operating Margin and Adjusted EBITDA Margin were as follows: (1) Average shares for the 2022 and 2021 calculation of adjusted EPS excludes 5.4 million shares associated with our Series A convertible preferred stock and includes the impact of preferred stock dividend of approximately $2 million and $2 million for the three months ended March 31, 2022 and 2021, respectively. Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to reported results. The Net ARR Activity Metric for Q2 2022 was $104M, up 2% . This includes Other (income) expenses, net on the Condensed Consolidated Statements of Income (loss) and other insignificant (income) expense associated with providing transition services on the California Medicaid contract loss and other adjustments. Integrate new workplace policies He's emailed the "New Hiring Coordinator" multiple times over the past week. (Gain) loss on divestitures and transaction costs.

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