Fourth Quarter 2012 Operating Segment Results (2)
As of January 1, 2012, the specialty retail business that was formerly part of the Hospitality and Specialty Retail segment is now included in the Retail Solutions segment, and the hospitality business that was formerly part of the Retail Solutions segment is now included in the Hospitality segment. As a result, the former Hospitality and Specialty Retail segment has been renamed Hospitality.
NCR's Financial Services segment generated fourth quarter revenue of $912 million compared to $908 million in the fourth quarter of 2011. The increase was driven primarily by growth in the Europe and Asia Middle East Africa (AMEA) theaters offset by declines in the Americas theater. The fourth quarter year-over-year revenue comparison was negatively impacted by 1% of foreign currency translation.Operating income for Financial Services was $98 million in the fourth quarter of 2012 as compared to $108 million in the fourth quarter of 2011. The decrease in operating income was driven by increased mix of revenues from emerging markets and continued investment in services and research and development. Retail Solutions The Retail Solutions segment generated revenue of $490 million in the fourth quarter of 2012, an increase of 2% from the fourth quarter of 2011. The increase resulted from growth in the Americas and Europe theaters offset by the impact from the movement of specialty retail and hospitality accounts between the Retail Solutions segment and the Hospitality segment, as described above. The fourth quarter year-over-year revenue comparison was not materially impacted by foreign currency translation. Operating income for Retail Solutions was $44 million in the fourth quarter of 2012 as compared to $25 million in the fourth quarter of 2011. The increase was driven by a favorable mix of revenue and the movement of accounts between the Retail Solutions and Hospitality segments, as described above.
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