Following the sale of its federal business, Blue Bell-based Unisys said it expects 2020 to be a year of transition, writes Michelle Caffrey for the Philadelphia Business Journal.

The company made the remark at its earnings call earlier this week.

There it reported a $10.8 million fourth-quarter loss, or 17 cents per share, compared to $25 million in earnings or 41 cents per share for the fourth quarter of the previous year.

On a non-GAAP basis that excludes one-time charges the company earned $42.7 million, or 60 cents per share.

Unisys CEO Peter Altabef said the sale of the federal business represents a major change for the company.

The proceeds will be used to take the company’s continuing financial turnaround to the next level.

Part of the funds will be earmarked for bringing the company’s overall debt down from $1.9 billion to $860 million. The company is also considering possible acquisitions in the future.

However, as far as 2020 is concerned, Altabef said it is “expected to be a reset year,” with expected revenues ranging between a two percent increase or decrease overall.

Read more about Unisys at the Philadelphia Business Journal by clicking here.