FORM 10-Q

(Mark One)

ý		QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

		For the quarterly period ended April 3, 2005

		OR

o		TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 001-13279

UNOVA, INC.

(Exact name of registrant as specified in its charter)

Delaware		95-4647021
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

6001 36^th Avenue West Everett, WA www.unova.com		98203-1264
(Address of principal executive offices and internet site)		(Zip Code)

Registrant’s telephone number, including area code: (425) 265-2400

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o

Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act). Yes ý No o

On April 30, 2005 there were 61,321,332 shares of Common Stock outstanding, exclusive of treasury shares.

UNOVA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands, except per share amounts)
(unaudited)

	Quarter Ended
	April 3, 2005			March 31, 2004

Revenues:
Product	$	161,943		$	142,606
Service	34,552			30,749
Intellectual property settlements	—			19,650
Total Revenues	196,495			193,005

Costs and Expenses:
Cost of product revenues	92,747			81,490
Cost of service revenues	20,886			17,980
Cost of intellectual property settlements	—			3,857
Selling, general and administrative	72,756			64,755
Total Costs and Expenses	186,389			168,082
Operating Profit from Continuing Operations	10,106			24,923
Interest, net	(2,126		)	(3,068		)
Foreign currency exchange, net	(15		)	(420		)
Earnings from Continuing Operations before Income Taxes	7,965			21,435
Provision for Income Taxes	(2,553		)	(5,709		)
Earnings from Continuing Operations, Net of Tax	5,412			15,726
Loss from Discontinued Operations, Net of Tax	(1,932		)	(5,244		)
Net Earnings	$	3,480		$	10,482

Basic Earnings (Loss) per Share
Continuing Operations	$	0.09		$	0.26
Discontinued Operations	(0.03		)	(0.09		)
Net Earnings per Share	$	0.06		$	0.17

Diluted Earnings (Loss) per Share
Continuing Operations	$	0.09		$	0.25
Discontinued Operations	(0.03		)	(0.08		)
Net Earnings per Share	$	0.06		$	0.17

Shares Used in Computing Basic Earnings (Loss) per Share	61,093			60,188

Shares Used in Computing Diluted Earnings (Loss) per Share	62,813			62,126

See accompanying notes to consolidated financial statements.

UNOVA, INC.
CONSOLIDATED BALANCE SHEETS
(amounts in thousands)
(unaudited)

	April 3, 2005		December 31, 2004

ASSETS

Current Assets:
Cash and cash equivalents	$	155,150	$	217,899
Restricted cash	—		50,000
Accounts receivable, net of allowance for doubtful accounts of $9,102 and $9,771	162,184		157,833
Inventories	93,165		80,854
Net deferred tax assets	58,730		81,769
Assets held for sale	14,196		19,748
Current assets of discontinued operations	52,214		211,116
Other current assets	9,987		8,831
Total Current Assets	545,626

PART I. FINANCIAL INFORMATION

ITEM 1.		Financial Statements

		Consolidated Statements of Operations Quarters Ended April 3, 2005 and March 31, 2004 (unaudited)

		Consolidated Balance Sheets April 3, 2005 and December 31, 2004 (unaudited)

		Consolidated Statements of Cash Flows Quarters Ended April 3, 2005 and March 31, 2004 (unaudited)

		Notes to Consolidated Financial Statements (unaudited)

ITEM 2.		Management’s Discussion and Analysis of Financial Condition and Results of Operations

ITEM 3.		Quantitative and Qualitative Disclosures about Market Risk

ITEM 4.		Controls and Procedures

PART II. OTHER INFORMATION

ITEM 2.		Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 6.		Exhibits

Signature