News

NCR profit up 41%, gain attributed to manufacturing consolidation

May 7, 2008

DAYTON, Ohio — NCR Corp. has released the financial results of the first quarter of 2008, ending March 31.

The company reported net income of $48 million, 27 cents per share, up 41 percent from the $34 million, 19 per share, in net income it reported for 1Q 2007.

NCR attributes some of the increase to the sale of its Canadian manufacturing facility, which created a $16 million pre-tax gain recorded as income.

NCR reported revenue of $1.18 billion, up 19 percent from 1Q '07.

Revenue growth in the Europe, the Middle East and Africa was the strongest, coming in 30 percent higher than the same period last year. In the Americas, revenue was up 15 percent; in Asia-Pacific, it was up 7 percent.

NCR did not release net-income breakdowns for those regions.

"The new NCR has started 2008 on a positive note, delivering strong revenue growth, margin expansion and much-improved cash flow," said Bill Nuti, chairman and chief executive of NCR. "Our vision for the new NCR is to lead how the world connects, interacts and transacts with business; and early in 2008 we're seeing increased traction for our newer self-service offerings as well as continued solid demand for core solutions and services across our geographic regions. Throughout the year and going forward, we are focused on implementing our strategies of generating profitable revenue growth, building a leading cost structure, and improving our working capital. We have significant work ahead on each of these initiatives, but the progress exhibited by our first-quarter results indicates we are on the right path."