NCR Announces Strong Third Quarter Results

NCR Corporation (NYSE: NCR) reported financial results today for the three months ended September 30, 2013. Reported revenue of $1.51 billion increased 5% from the third quarter of 2012. Third-quarter revenue includes an unfavorable impact of 2% as a result of foreign currency translation.

NCR reported third quarter income from continuing operations (attributable to NCR) of $98 million, or $0.58 per diluted share, compared to income from continuing operations (attributable to NCR) of $88 million, or $0.53 per diluted share, in the third quarter of 2012. Excluding pension and special items, non-GAAP income from continuing operations (2) in the third quarter of 2013 was $185 million, or $0.76 per diluted share, compared to $153 million, or $0.64 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.

"NCR delivered solid results in the third quarter, driven by continued strong demand for our Retail and Hospitality solutions and the impact of our ongoing transformation to a greater mix of higher-margin software revenue,” said Bill Nuti, Chairman and CEO of NCR. “Overall execution and innovation across our businesses have been consistent and our outlook for the year remains unchanged. Looking forward, we believe our leadership in consumer transaction technologies and our commitment to reinvent NCR positions us to generate profitable growth in the remainder of 2013 and beyond."

Third Quarter 2013 Operating Segment Results (2)

Financial Services

NCR's Financial Services segment generated third quarter revenue of $767 million, a decrease of 4% from the third quarter of 2012. The decrease was driven by declines in the Americas and Europe theaters, partially offset by growth in the Asia Middle East Africa (AMEA) theater. Foreign currency fluctuations had an unfavorable impact on the year-over-year revenue comparison by 2%.

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