STRATEGIC PARTNERS
March 5, 2002
DAYTON, Ohio -- NCR Corporation announced a net loss of $5 million, or a loss of five cents per diluted share, for the first quarter ended March 31, 2000. Without the impact of charges related to the October 1999 restructuring, net income is $6 million, or 6 cents per share, compared to $3 million or 3 cents per share in the prior year.
Consensus analysts' expectation for the quarter was five cents per share.
Overall revenues were $1.26 billion compared to $1.33 billion a year ago, down 6 percent. The abnormal quarterly revenue distribution in 1999 caused a difficult first-quarter comparison that will get progressively easier as the year advances.
Data Warehousing revenues jumped 73 percent to $195 million compared to $113 million in the first quarter of 1999, the highest gain on record. Revenues in products and services that have been de-emphasized or restructured decreased by 33 percent, to $164 million from $245 million.
Revenues from remaining solutions increased slightly to $1.091 billion from $1.088 billion. Currency had a negative 2 percent impact on overall revenues.
Specifically, Retail Store Automation declined 26 percent, primarily due to a difficult prior year comparison and a slow start after the Y2K transition. The momentum improved significantly as the quarter progressed. Financial Self Service revenues were up 1 percent and up 5 percent on a local currency basis.
Customer Services Maintenance revenues were down 7 percent, due to overall revenue declines and the abrupt conclusion of commodity hardware maintenance revenues at the end of 1999. Systemedia revenues were up 1 percent. Other solutions revenues were down 33 percent.
The decline reflects reduced sales emphasis after the fourth quarter 1999 restructuring announcement. The prior year results include revenues from exited solutions.
