News
NCR's 3Q net is up, despite struggling economy
October 22, 2008
DAYTON, Ohio — NCR Corp. has reported financial results for the third quarter of the year, with revenue of $1.38 billion, up 8 percent from 3Q 2007, and net income of $80 million, up 51 percent from the same period last year. Year-to-date, revenue overall is up approximately 13 percent, hittting $3.89 billion from $3.45 billion last year. The company realized revenue growth, even after the spinoff of Teradata in October 2007. Net income was down 7 percent, falling from $185 million to $172 million, but net income from continuing operations was up — going from $75 million for the first nine months of 2007 to $176 million in 2008. Despite a struggling global economy, NCR says its business in core solutions grew throughout the world.
In the Americas, NCR's revenue was up 9 percent year-over-year, namely because of increased sales to financial institutions. In Europe, the Middle East and Africa, revenue was up 4 percent for the year (and up 18 percent for the third quarter), and in Asia-Pacific, revenue was up 14 percent year over year.
"NCR delivered strong third quarter results, showing solid revenue growth across our core solutions and geographies," said Bill Nuti, chairman and chief executive of NCR. "We demonstrated resiliency in a weakened economic environment because we are executing well against our strategic priorities, managing for profitable revenue growth, building a sustainable and leading cost structure, and improving our working capital position."
According to a news release, during 3Q 2008, NCR took more than 8,000 orders from more than 230 global customers for its new SelfServ ATM. By the end of 2008, NCR says it expects orders for the SelfServ line to surpass the total number of orders taken for the Personas ATM line.
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