NCR Raises Full-Year Outlook - TheStreet

NCR Raises Full-Year Outlook

The company's shares jump 10% on the news.
Publish date:


(NCR) - Get Report

said Wednesday that second-quarter operating results will beat expectations, and the company raised its full-year earnings estimates as a result.

In the quarter ended June 30, the company expects to earn 6 cents to 9 cents a share. Analysts' consensus is a loss of 4 cents a share. The company had earnings of 32 cents a share in the same quarter last year.

Recently, shares of the company were up about 10% at $31.24 on the

New York Stock Exchange


The company expects revenue to be $1.37 billion, including a favorable currency exchange impact, down 1% from last year's $1.38 billion, but largely in line with analysts' estimates of $1.36 billion.

In 2003, NCR now expects to earn 45 cents to 55 cents a share, ahead of analysts' current 44 cents-a-share average estimate. The company earned $1.36 a share last year.

"While we have not seen an improvement in the economic environment, our efforts to improve the efficiency and profitability of NCR are beginning to generate positive results," said Mark Hurd, chief executive of the Dayton, Ohio-based technology company.