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NCR posts earnings of $124 million

January 27, 2005

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Associated Press:NCR Corp. reported on Jan. 27 a 55 percent increase in its fourth-quarter earnings, crediting growth in its data warehousing, ATM and checkout-scanner businesses.

For the three-month period that ended Dec. 31, NCR posted earnings of $124 million, or $1.30 a share, compared to earnings of $80 million, or 84 cents a share, for the same period of 2003.

NCR had $1.78 billion in total revenue for the quarter, up 9 percent from the $1.64 billion it generated in the fourth quarter of 2003.

"The fourth quarter was one of the strongest quarters ever for NCR in terms of both revenue growth and operating profit," said Mark Hurd, president and chief executive officer. "A favorable market environment enabled us to generate double-digit growth in our three core product segments."

For the data-warehousing, ATM, and check-out scanner divisions, revenue was up 14 percent, 15 percent and 15 percent, respectively.

NCR's results included a $13 million gain from a real estate transaction, $5 million in costs associated with exiting some facilities, and the release of a $9 million reserve the company had established when it anticipated losses on the sale of some subsidiaries - primarily in Africa - it now plans to keep.

NCR said it is boosting its guidance for 2005 earnings to $2.40 to $2.50 a share on a pre-stock-split basis and to $1.20 to $1.25 a share on a post-stock-split basis. The 2-for-1 stock split became effective Jan. 21.

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