NEW YORK (TheStreet) -- Unisys  (UIS) - Get Report had risen 9.98% to $34.26 by Friday's close, up $3.11 from its previous close, after announcing its fourth-quarter earnings results.

The stock hit a one-year high of $35.40 on Friday and had a volume of 2.3 million, more than four times its average volume of 504,485.

Overall revenue grew 2%, technology revenue increased 5% and services revenue grew 1% in the quarter. Net income grew to $117.4 million from $81.8 million in the same quarter one year earlier.

Diluted earnings per share totaled $2.37, compared to $1.67 in the same period last year. Non-GAAP diluted EPS was $2.82 compared to $2.27 in the same quarter one year ago. Finally, free cash flow totaled $93 million, though this figure was $138 million prior to pension contributions.

"We closed 2013 with a good fourth quarter, reporting significantly increased profitability on higher revenue," said Chairman and CEO Ed Coleman in the company's statement. "We grew both our services and technology businesses while continuing to show good cost discipline across the business. We were particularly pleased by the higher operating profit margins in our services business, where we also grew orders for the third consecutive quarter. 

"As we move into 2014, we are excited by the opportunities in front of us," Coleman said. "We are seeing growing market interest in our Stealth cybersecurity software products, our new Forward! by Unisys fabric-based servers, our cloud-based offerings, and other innovative solution offerings.  We are focused on continuing our fourth-quarter momentum and driving profitable revenue growth in the year ahead."

TheStreet Ratings team rates UNISYS CORP as a "sell" with a ratings score of E+. TheStreet Ratings Team has this to say about their recommendation:

"We rate UNISYS CORP (UIS) a SELL. This is based on the dominance of unfavorable investment measures, which should drive this stock to significantly underperform the majority of stocks that we rate. The company's weaknesses can be seen in multiple areas, such as its poor profit margins and weak operating cash flow."