News

NCR increases earnings forecast for '04

April 8, 2004

DAYTON, Ohio - NCR Corp. increased its earnings forecast for 2004 citing a general improvement in the information-technology market.

NCR also cited a streamlining of its operations and real-estate portfolio as a factor in the expected improvement.

The company expects to report earnings of $1.10 to $1.15 a share in 2004, up from an earlier estimate of 85 cents to 95 cents.

According to Thomson First Call, Wall Street expected NCR to earn 92 cents a share.

In 2003, the company earned $58 million, or 61 cents a share, on $5.6 billion in revenue.

NCR expects to record a first-quarter loss of 5 cents to 10 cents a share, including one-time gains of 4 cents a share. Analysts, on average, are projecting a loss of 27 cents a share for the quarter.

For the year, the company said improved IT spending could spur revenue growth at its data warehousing and ATM businesses, which could lead to companywide revenue growth of 1 percent to 2 percent.

Growth at that level would result in 2004 revenue of $5.65 billion to $5.71 billion, according to a Dow Jones report. Analysts expect revenue of $5.69 billion for the year.

NCR will report first quarter earnings on April 29.