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NCR earnings drop 17% after ATM-manufacturing realignment
April 25, 2007
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ClaudeThe Associated Press:NCR Corp. said April 26 that its first-quarter profits fell 17 percent because of costs stemming from its plan to shift ATM production and spin off its Teradat data-warehousing business. Net income was $34 million, 19 cents per share, for the quarter, down from $41 million, 22 cents per share, during 1Q 2006. Total revenue hit $1.35 billion, up from $1.28 billion a year ago. NCR announced plans in January to outsource production of its ATMs in North and South America and shuffle the manufacturing of ATMs among its overseas plants to save money, a move that will eliminate nearly 1,200 jobs.
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