October 24, 2008

Business: NCR reports 51% increase in earnings

NCR reports higher earnings thanks to ATMs, store checkout scanners and self-serve kiosks. Despite the news NCR stock closed Thursday at $14.50 a share it's lowest in 5 years. Friday shares rebounded to $16 despite market sell off.


NCR Corp. Thursday reported a 51 percent jump in third-quarter earnings, driven by an 8 percent increase in sales of its ATMs, store checkout scanners and self-serve kiosks.

The Dayton-based company said it earned $80 million, or 48 cents per share, during the three months ended Sept. 30. During the same period a year ago, NCR earned $53 million, or 29 cents per share.

Revenue rose to $1.38 billion from $1.28 billion.

A Thomson Reuters survey of analysts had forecast that, on average, NCR would show a profit of 43 cents per share.

NCR's results include costs from a realignment of its business following the spinoff last fall of its Teradata Corp. database vendor. Excluding those costs, the company's earnings from continuing operations were $82 million, or 49 cents per share.

Posted by staff at October 24, 2008 10:39 AM