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NCR Announces Strong Third-Quarter Results

Stocks in this article: NCR

NCR Corporation (NYSE: NCR) reported financial results today for the three months ended September 30, 2012. Reported revenue of $1.44 billion increased 6 percent from the third quarter of 2011. Third-quarter revenue includes a negative impact of 3 percent as a result of foreign currency translation.

NCR reported third-quarter income from continuing operations (attributable to NCR) of $58 million, or $0.35 per diluted share, compared to income from continuing operations (attributable to NCR) of $23 million, or $0.14 per diluted share, in the third quarter of 2011. Excluding pension and special items, non-GAAP income from continuing operations (2) in the third quarter of 2012 was $153 million, or $0.64 per diluted share compared to $123 million, or $0.57 per diluted share, in the prior year period. An identification of those special items, and the impact of pension and those special items on income from continuing operations and diluted earnings per share, are set forth in the supplemental non-GAAP reconciliation tables and accompanying footnotes that are included following the "Note to investors" at the end of this earnings release.

“Steady execution during the third quarter resulted in solid financial results keeping us on track to deliver in line with our full year financial and business objectives,” said Bill Nuti, chairman and CEO of NCR. “Our focus on driving transformative change in how consumers and businesses interact and transact is resonating, supported by strong customer response to innovations such as our Scalable Deposit Module and APTRA™ Interactive Teller in Financial Services and the NCR Silver transaction platform for smaller retailers. As we continue to drive accelerated revenue growth we are also improving our profitability profile by expanding our higher margin global services business and increasing contributions from software and SAAS offerings. Finally, we announced in the quarter phase two of our pension management strategy, which we expect will strengthen our ability to deliver enhanced shareholder returns.”

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